what will happen on opening, page-11

Its a bit rough when you find out that a company is offering $15.25/share for your holdings and the shareprice drops more than $1 because your directors refuse the offer.

Pity this is being run past the CML board at all...what happened to on market offers? CML board members would have a vested interest in not accepting the offer and a belief they can increase value for shareholders in their own right (they want to keep their position/remuneration packages etc...who would blame them). I doubt directors would accpet an offer under $17.

Ajax