RE: Cash at hand3 Dec 2023 11:49
If the Chinese are bidders here they are up against NN’s advantages of proximity and local facilities, meaning the latter can afford to offer more than rivals. If the Chinese push them hard enough, they have another possible advantage: they could make an offer of mostly cash but with just enough NN shares to swing CS behind their offer. Let us hope the Chinese are pushing hard! So cash in hand + some, but not too many, NN shares to do the trick?
Unless the Chinese refuse to be beaten, of course.
That is what may happen with two credible and determined buyers at the table at this critical juncture. The Chinese must be classed as credible buyers, if they are at the table.
Of course, if the assets are not tier1(scale or no scale) they may not be there. I do like to prod that lurker in the shadows.