RE: Aus Price16 Feb 2024 11:31
Aggressive takeovers dont work like this ! Its usually 1.5 to 2 x current SP which is why erosion of a shares price is very dangerous to nano-cap shares like this. In a 'normal' company say like Pets at Home or Aviva you can look at the turnover and margins as well as the share price and reach an accurate and reasonable offer, but anyone wanting to buy an out fit like this arent going to be that interested even in a DFS (which we still have no sign of BTW). This isnt a guess it happened in BCN -- the dodgy board suppressed the SP and then went for a SP x 1.6 bid which they didnt contest at all. This is what happens in the real world, and in the case of BCN its meant to be in the top 5 Li resources in the world and that still didnt seem to make much difference to the acquisition value....