It seems to be the market has voted against the deal.
SLR is down 21.6% on the takeover announcement. This is an incredible amount considering conventionally when being taken over shareholder's require a premium.
Yes the gold sector is down over the same period - the XGD is down 7%, so SLR is down ~15% on a relative terms - noting SLR is a component of the XGD and would skew the result to the downside.
This deal is a no goer based on market reaction, for how can shareholders vote for it?
We do need new leadership which wil weigh on the SP until resolved.
