Attracting Other Offers?18 Dec 2016 10:50
Bit of a risky strategy to recommend accepting an offer of 20p with a view to attracting other offers. If the shareholders vote to accept, as the BOD recommend, this is a done deal. The company is then sold for a firesale price. Yes a very risky strategy.
You can only bank on this being sold at 20p. Anything else is pure speculation and currently very unlikely with the BOD recommending this deal. BOD recommendations normally happen.