One of XTA's metrics for recent takeovers has been the 30 day...

One of XTA's metrics for recent takeovers has been the 30 day volume weighted average plus a t/o premium - see below:

RSP t/o news release, 1st bullet point:
"Premium of 85% to the 30 day volume weighted average price1 of Resource Pacific shares up to and including 25 September 2007, the day prior to the announcement of New Hope’s takeover offer"

JBM t/o news release, 1st bullet point:
"Premium of 36% to the 30-day volume weighted average price and 35% over
the closing price of A$17.10 per Jubilee share on 26 October 2007"

Eland Platinum t/o news release, 2nd bullet point:
"Premium of 14% to the current 30 day volume weighted average price (“VWAP�)"
3rd bullet point is important with respect to premium
"Majority support of shareholders – 51% irrevocable undertakings obtained "

Gloucester Coal t/o news release, 2nd bullet point:
"Premium of 33% to the one month volume weighted average price of Gloucester Coal shares"

LionOre t/o news release, 2nd bullet point:
"Premium of 16.5% to the 30-day volume weighted average price"

ZFX's current 30 day volume weighted average is $15.51.

If there is any truth to the $20 t/o rumour then that is a 29% premium to current 30dvwa.

I am sure if XTA is interested it would want a 30% handle on any premium for a hostile bid. Maybe a couple more days of share price jiggling would get the 30% handle.

My speculation only.