Just noticed the article stated at LEAST 10% and the bidder already owns 4.75% and looking to get to at least 14.75% maybe even 20%. I wonder who the bidder is? RMS, WGX, BGL, GOR, overseas goldie.
Also noticed the article implies they are just seeking bids from fund managers? ie not from retail - will NRW sell the rest of their shares?
My views below may change depending on the identity of the bidder.
If this is a prelude to a TO and fund managers/investors realise as such the bidder may not achieve 10% even at 89c. 7c is not much of a premium to acquire a strategic stake.
Why would a fund manager sell into this bid when Tempo will not sell for less than $1? Any serious insto who understands the potential at SPR will not be selling.
It will be an interesting day tomorrow for SPR. Will the SP go to 90c or above to tomorrow? Won't surprise me if it does and won't surprise me if it goes north of 95c.
But maybe I am biased with a view that SPR is worth a lot more than $1.
SPR Price at posting:
82.0¢ Sentiment: Buy Disclosure: Held
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