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Doesn't quite work like that. If the BoD reject the offer, the shareholders have no say.
The BOD may well reject the 170p offer (if made) but their long suffering shareholders might well be willing to take it given that the BOD have completely failed over a prolonged period to achieve anything of note other than massive shareholder capital destruction.
it is only because the 3rd or 4th approach by Siris was leaked /picked up by Sky, that the SP here is no longer at or below £1
Anything above £3, the BoD will consider. £1.70 is an insult and it will be flatly rejected IMHO.
What do others consider would be a fair/achievable take out price for EQN by Siris or a counter-bidder?
Many have known this is on the block for months and others are bound to be looking at it.
That can only be a good thing.
Yes agree. Tend to think that the BoD will ignore this too and evaluate it as not in the best interests. Tempted to trim a bit here tbh but the price is perking up again so expect another bidder of improved offer.
Game on.
The BOD have zero credibility to defend against a bid, whether this or another one.
They've known that this suitor has been in the wings for months (but didn't disclose the previous approaches to the market) and the recent results provided them the best opportunity to come up with some reason as to why they should remain in charge.
Despite awarding themselves more options - they couldn't even see themselves to reinstating the dividend, not even a token amount.
They have singularly failed to demonstrate any management ability or confidence in being able to continue.
Their only hope now is to attract a white knight at a higher price, but I doubt they could organise that - they're probably too busy awarding themselves more options.
Usually settles below offer - I expect counterbids as 170p is too cheap but still nice move up.
yes, but depends whether this starts a bidding war.
Is 170p the opening shot or, given the recent results, a full price ?
I suspect there may be more to come but I will certainly lighten my position at 170p
Shouldn't the SP Move permanently to 170p, current mcap is crazy when PEs are willing to pay £600m!