Originally Posted by
Snoopy
"As at 12 March 2019, the total number of acceptances of the Offer is now 91,080,599 Shares comprising 73.01% (rounded to two decimal places) of the Shares."
So by the expiry of the original takeover date, Global Valar were short of their original 75% target. That is quite staunch resistance and I take my hat off to the 'remain in NZ hands' brigade who have not accepted the offer up until now. However, Bjauck has indicated that he will be joining me in 'sellout scum' street. And no doubt there will be others.
The interesting point in all of this is that up until the partial takeover bid, there weren't many unhappy RBD shareholders. There was no underlying appetite to sell out and no recent management stumbles (maybe Carls?). So I am picking that quite a few of you that 'sell down' will be looking to buy back into the remaining free float of shares which are left. That means I am expecting the share price to rise from the theoretical $7.60 post offer until that residual index fund selling kicks in. But if the initial rise is high enough, there may not be any need for index fund selling?
SNOOPY