Has happened before but Bounty's and Tegel's lawyers will be chomping at the bits to take OIA to court for a judicial review if the decision to decline is blatantly a political one.
Lawyers love situations like these - fee bonanza!
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Sellers looking nervous .......
94% accepted takeover - seems nearly everyone is in favour of takeover.
wonder if the oio take account that the majority of shareholders favour the deal?
Now that 90% is cleared the price at $1.13 is really only saying OIO is a 75% chance of approving the deal. Anyone who buys at $1.13 will get $1.23 if OIO say yes as its exceptionally unlikely Bounty won't compulsorily acquire the 4-5% at most that haven't accepted. It's either a very easy 9% return over a few weeks or a lot of pain (back to 80-85c?) if for some bizzare reason OIO rejected Bounty.
Looks like another food company we are losing control of for good.Hope OIC stop it, shouldn't be allowed.
I blame the cycle myself, it will turn and Mgmnt learn, or be replaced. not so easy to replace another NZ food company.