The value is therefore connected not too how much the cooper share price is, but simply the number of shares they will offer (plus cash) for each IPM share as the COE price falls the value of the IPM share offer falls in line with the coe SP. The only constant is the cash component. My point is therefore the cash left to cooper whether the cooper share price is 60 or 25.5 is the same. One could argue if the SP stayed at this level after the takeover COE could mop up a few million of the extra issued shares with cash and cash flow.
its a smart bid by cooper
COE Price at posting:
25.5¢ Sentiment: Buy Disclosure: Held
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