Why do Xinhe continue to pursue the matter ? They already had to comply with the TOP instruction to allow any BE holders selling to them to back out of the deal. A condition they themselves took to the TOP, to force EMR to allow their crossers to back out. That came right around and bit them on the butt. ha-ha. They cannot control BullEye. It is impossible. If the FIRB do not give consent, they will have to give back the BE shares they acquired, and get their money back. (Well they can try) Also their bid is dependent on achieving control of 40% of BE. Utterly impossible.
It is a risky business for the BE holders who may still be considering selling to Xinhe. Xinhe are in the mire over this.
The EMR offer ends finally once and for all on Friday this week. If the remaining BE holders were waiting to hear the FIRB decision on the 10th, they have now only 4 days to go to EMR, or face the possibility of not getting a deal from Xinhe. Thereby facing financial stagnation as minority BE holders. Xinhe are already staring this in the face.
EMR Price at posting:
$1.19 Sentiment: Buy Disclosure: Held
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