Ann: AWE receives indicative proposal to acquire 100% of AWE, page-35

I keep remembering WCL (Westside Corp - CSG in Qld).
received a t/o bid at 40c from Chines Landbridge, and wanted d/d.
(Landbridge are mob who later purchased Darwin lease!)
board would not engage, and would not even talk to them.
so Landbridge went on-market at 40c.
WCL had 2 big s/h in New Hope and a Fund Mgr (both of whom had WCL representation).
So s/h started selling out on market at 40c.
Then the Fund Mgr sold, and then New Hope sold out.
So Landbridge got about 40%+, and WCL Board then recommended bid .

Point is, if s/h think 71c is good price, then watch out if CCERG get a decent foothold.
Not engaging with CCERG can have result of no increase in bid, and encourage bigger s/h to accept - particularly if Hedge type funds start getting a hold.

cheers