Market reaction to possible T/O.15 May 2021 19:50
I have not been a holder in many COs that have been taken over, but when a (possible) T/O has been announced the SP has always gone up to, or very close to the offer price mentioned, whereas here it has stayed well below. This makes me wonder just how convinced the market is that the T/O will happen? Although a +50% markup appears generous initially, compared to where the SP has been, and should be, it is rather low...nearer 100p might be more appealing....thoughts anyone?