MIN were commercially astute as they should have been.
The inference is either that the AGO Board feel they have no other viable options ((1) there probably isn't another bidder than can obtain the synergies MIN can, (2) AGO would have canvassed buyers before so probably aren't concerned by the conditions), or it has all gotten too hard and they want out. Possibly a combination of both.
So the disappointment here is both palpable and understandable.
On the flip-side the Board are clearly much more across the viability, potential and value of AGO than outsiders (as we are here). There have been some strange comments abouts markets not being able to value these assets, broker reports setting the value, getting 3 expert quotes as if this was solve a dispute about a quote to paint a fence etc.
The next key info will be the Independent Expert's report, should be interesting reading. It well may validate many views here that the offer is too heaily in favour of MIN.
AGO Price at posting:
2.8¢ Sentiment: Hold Disclosure: Not Held
