re: Ann: Campbell Bros. Intends Making Offer ... Good read.
Seems that CBP have 3 "outs" - 90pc acceptance, all ords does not drop below 3800, and profit expectations for fy2010 are achieved.
If fear, uncertainty and doubt continue to fester - shareholders might be thankful for the bid and sell into the offer.
Back in the GFC I had a similar experience with an overweight position in RIC when Graincorp made a nice offer. Price soared into the $1.40's, then a worsening of the GFC along with RIC's defensive meassures caused the offer to go away and RIC fell heavily - still not recovered.
No matter what their emotional attachment to this company - shareholders might allow the fud to get the better of them and sell on market rather than wait for the certainty of the offer.
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