Agree Melua, takeover inexperience showing a bit on both sides....

Agree Melua, takeover inexperience showing a bit on both sides. Two tier bid was just silly. I was absolutely amazed the way ZFX talked up AGM in their bidders statement, better than THR.

“Avebury is just the start of our strategy to vigorously grow in Zinifex’s chosen base metals of copper, nickel and zinc. We like investing in high margin, long life, expandable mines, and Avebury delivers all of these attributes. Avebury promises to be an exciting new nickel region that, with appropriate investment, we expect will support rapid production expansion and mine life extension.”

Then they realised, better start talking it down....

They'd be disappointed with less than 1% in the bumpiest market since 87.

Still can't believe that some nutters thought ZFX would just drop the bid. I don't think people realise just how much money, time & effort goes into even considering a bid. Some on HC would have you believe its just like buying a pack of corn flakes....

Also seems like a lot of people have never seen a takeover before. These things usually drag on for months. You've got people posting 10, 20 times a day. Some were expecting the acceptances to just magically appear on Friday and others seriously thought ZFX would walk. Neither was ever going to happen. Have they ever seen a takeover before...

ZFX, have again stated that the offer is 'scheduled' to close. This means once again that this is not the final offer. When the offer is final, they will declare it final. It clearly isn't there yet. They haven't put this bid together to just walk away as some seem to think....

$1.00 is never going to happen. ZFX know this now and they knew this before they made the bid. Its all part of the takeover tactics. After letting the AGM holders 'stew' for another 2 weeks they will come back with 1.15 to 1.25 and sadly in the current market I think this will complete the transaction unless we get a second party.