That's not an constitution of TRQ I believe. I believe TRQ is just buying more time for themselves to see if there are any other buyers for their stake, they can easily revoke their agreed 14.9% stake in the acceptance facility for the Chinese offer.
That's if there is any other buyers out there. Dataroom and talks for offers are always open and happening all the time.
I work in a petroleum company and there are heaps of potential deals happening to companies nearly everyday, but whether a formal offer occurs that is a low chance.
So if I was Rio, I would wanna extract the highest possible offer at the quickest possible time and will consider all options necessary.
Which in my case, 23c was the quickest opportunity in view of an unlikely higher offer elsewhere, and I get paid a month or several months in advanced compared with other holders who are selling on market now or accepting the takeover offer. So that money can be earning interest or used for other investment opportunities.
IVA Price at posting:
21.5¢ Sentiment: None Disclosure: Not Held
