RE: Surely shum mistake8 Nov 2020 16:17
Low ball offer? If anything, the small possibility of that has receded even further recently.
1. Lombard Odey, roughly 18% of shares.
2. FH, just below 10% when first buying, would not take much to take it above 10%. May now be so.
3. VSI, temporarily below (just) 10% but when the estate is settled, it's shareholding will very likely be at around 10.8%. It's also feasible it could still block if required although there's a lot of legal grey around that.
So, potentially, there could be 3 hurdles to a low ball bid and what 1 or 2 thinks reasonable may not be to the third party. That's a pretty good defence against any perceived low ball bid.