Ann: Becoming a substantial holder from DB Group , page-20

re: Ann: Becoming a substantial holder from D... I didn't read the takeover booklet too closely but I noticed that the acceptance date was Nov 2nd. I guess it would make sense for any counter-offer to be made sooner rather than later before acceptances have been handed in (even though they can be backed out there would be some bureaucratic delay).

The idea of a counter-offer is to make a knock-out blow which a half-cent increase to 27c wouldn't do. Maybe 30c would? The directors would have to accept any higher offer, that's business. I guess also it's better to acquire what you can by stealth on-market while you can and save a few million bucks.

Anyway, likely wishful thinking but you can make a good case for EXS making economic sense for the X-men at these prices, though whether they've got their minds on it, especially in light of the Glencore stuff, is another matter.