The offer is a good move by AWE, and probably always going to happen. A bit suss though that director buys before announcement, and that these 2 companies work in the same building. However in a dodgy market at mo, we have a big buyer moving in, sending the price higher. So what's the deal if they don't make up 90%? I'm sure they aren't going to dump their entire holdings for pittance, specially with the action nox taking place in SL. Do things simply continue as were, with AWE having majority say? So what, these guys are good operators and i was actually looking at buying into AWE. Maybe they want in on ADI, to learn more about Shale gas drilling, since they are looking to do the same north of perth? But all up, what are the scenario's for us devoted holders if a) they get over 90% or b) don't get over 90%? It's not like we lose everything!
ADI Price at posting:
41.0¢ Sentiment: Hold Disclosure: Held