tth - another quick comment - PLT does not actually have any choice as to whether to proceed with the bid.
If you announce a bid you LEGALLY HAVE to follow through with a bidder's statement.
The only way to then pull the bid and not proceed is to point to a condition of the bid that has been breached. from recollection, there are very few conditions to the PLT offer so this would not be easy to do.
from FER's perspective. . . . key issue is the recommendation. Having announced intention to recommend subject to independent expert's report. . . . it would be unusual to see them not recommend unless the independent expert assessed the bid as not being fair & reasonable.
However, FER board does retain discretion just to change its mind. . . . although ultimately it is up to shareholders to either accept or not in any event.
either way . . . .. this merger thing has lost momentum!!!
PLT Price at posting:
9.0¢ Sentiment: None Disclosure: Not Held
