THE UNLIKELY COUNTER BID23 Feb 2026 16:15
I’ll be waiting for my 28p unlike most who moved on with a more worthwhile investments but although unlikely I’ll be either waiting for 28p or a counter bid - good luck to all in your future investments.
Here is the current situation regarding a potential counter-bid:
Status of the Current Deal: Shareholders approved the JCC deal on Feb 23, 2026, but the scheme still requires a Sanction Hearing (scheduled for March 2, 2026) to become legally binding.
Can a Bid Be Made Now? Yes, a competing, superior offer can technically be made before the court sanction (March 2) or, in rare, competitive situations, the Takeover Panel may intervene to allow a higher offer before the scheme becomes formally "Effective" (expected March 4).
Irrevocable Undertakings: A key obstacle is that 2.8% of directors' shares and 25.7% from major shareholders (BHP, Newcrest) were already committed to JCC, making a hostile counter-bid challenging.
The "Long Stop" Date: The current deal is slated to be fully implemented by March 4, 2026, with a final "Long Stop" date of May 15, 2026, which is the deadline for all conditions to be satisfied.