Imagine AND's share price without the 15 for one KCN bid.
KCN is $6.20. AND is currently 42c.
It looks to me that the AND share price has been dragged up by the KCN bid.
There is also NO SIGNIFICANT PREMIUM in the AND share price for a better offer from elsewhere.
It means KCN should ultimately succeed in obtaining control of AND. KCN are free to extend their offer for as long as they wish.
Small AND shareholders here can complain all they like. It means nothing.
underperforming ... takeover
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