Neil - re "There is more to it than paladin just naming the price. I believe it has to be above a level traded over a recent period with some premium - and certainly above recent offer. These rules have been created to protect this group of investors."
You are quite correct, but the point I was trying to make (and not very well it seems ;) ) is that there will be a named price, based on the formula as above. And that is it. There will be no argie-bargie auctions, waiting for bids to be raised, counter offers, etc etc - all the things we usually see with a takeover. The price that gets spat out at the end of the formula is the price they will give you for your shares - and you have no choice as to selling them either - it's a compulsory acquisition. Your shares will simply disappear from your CHESS holdings and the money will appear in your account.
Been there, done that ;)
Personally, I can't see any value at all in buying SMM shares now, except for those few daring traders who may be hoping for just enough liquidity to make a quick little profit. And even that is high risk....
WMT Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
