The following is an extract from a news source, in this case TheAustralia
"Because Central Petroleum’s pre-bid price was not reflecting the east coast upside, the decision by Macquarie to bid when the company’s shares were in the doldrums at 13.5c a share"
I would suggest that even at these share price ranges, the Central Petroleum’s shares are still well in the doldrums.
It may be considered to sell should Mac make a revised offer, the Coy it's self has been unable to appriciate the Central Petroleum’s price by its self.
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