Seems like you know every thing w69;)
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It may be the trustee, but I hope not.
The trades are roughly every 15 minutes. What are they doing in between?:
having cups of tea?
filling out their 15-minute minimum-charge sheets?
I wonder if we're seeing a bot at work. FPA has something similar going on, though with less volume - it's only fired up in the last couple of hours.
Other companies have also regular quantities going through at intervals of about 15 minutes:
AIA 2013
CEN 705
NZO 1548
I am not sure about that mikew. It seems clear to me after reading the offer document, that an acceptance of the Agria offer "constitutes a contract between the Acceptor and Agria" and the only way out for the Acceptor, is if Agria fails to reach the 50.01% and the offer thereby terminated or if Agria fails to pay in full within 7 days of the offer becoming unconditional. I am certainly waiting until as close to 15 April as possible before doing anything in relation to this offer.
A higher offer will fail agria offer except agria make another much higher offer.
does seem to be any fresh approach coming....all hot air. Agria have to be close to the 50.01% they need !
i'm fairly new at this, so apologies if this is a dumb question. Why is Agria not buying up all the shares for sale at the moment for well under their 60c offer? Surely they'd be able to pick up a lot and save some money, and once they reach their 50.01%, they can quit, or when April 15 comes, they can buy the balance they need for 60c?
Agreed, IF alternative offer is received soon. The longer there is no other offer, the more likely it is Agria will achieve their goal, quite possibly well before close of offer date. If higher offer received after that, then no way out for those accepting the Agria bid.
Once any shareholder reaches the 20% threshold the NZ takeovers code is invoked. This means that all other remaining shareholders must be treated equally as regards any further share acquisitions. If Agria just bought on market the equal treatment of remaining shareholders would not happen. Agria is required to launch a partial takeover to ensure that all remaining shareholders have equal opportunity to accept in proportion to their own holdings.
SNOOPY
thanks for that Snoopy :)