STU - Steel & Tube Holdings

[Filthy]

https://www.nzx.com/announcements/325313

withdrawn anyway. carry-on everyone. nothing to see here

[Timesurfer]

Just another day that proves I will never understand the stock market

How did we go from a buck 50 to a buck 70 and then to a buck 40 based on that news?

[Filthy]

https://www.nzx.com/announcements/325313

withdrawn anyway. carry-on everyone. nothing to see here

shame shareholders didn't get a say in it. $1.95 was probably a fair deal

[Timesurfer]

https://www.nzx.com/announcements/325313

withdrawn anyway. carry-on everyone. nothing to see here

Oh ok.
I wonder if FBU shareholders had a quick vote on it?

[Filthy]

I note the FBU proposal was strictly confidential (point 4). I wonder if STU actually got the okay to release the information of the revised offer to the market? If they didn't, you cant blame FBU for getting the hump and pulling the plug can you?

[winner69]

shame shareholders didn't get a say in it. $1.95 was probably a fair deal

You need to TRUST your Board ...they know what’s best

Pressure on them now to deliver on those bullish promises

[trader_jackson]

wow! this is a sudden reversal! Punishment of STU's arrogance/confidence?

I suppose STU were just to ambitious with the price they wanted!

(given they haven't yet delivered...)

I am surprised people are still willing to pay $1.40 right now, given that prior to these rumours/announcements people were barely willing to pay mid $1.20's

I suppose PEB will be the only one for today to continue double digit percentage gains

[King1212]

Well...party over.....sorry guys!

[Filthy]

You need to TRUST your Board ...they know what’s best

maybe they just don't want to be out of a job.... lol

[artemis]

Brinkmanship?

A way to bring STU board to the table?

Or possibly FBU was too hasty with the revised offer. Certainly wasted no time in withdrawing it.

It ain't over yet, I predict.