A small snipet from the FR today:
"Magnum Hunter’s offer has been far from straightforward and doesn’t seem to have gone down too well with its own shareholders. The shares have dropped about 25 per cent since entering the race for $50 million Ambassador, and some of their larger investors don’t understand why their US-focused company is fishing for Australian assets.
Magnum Hunter’s bidder’s statement is also locked up at the Takeovers Panel and it cannot open its offer until the document is released. All of which should make Friday’s June-quarter results interesting."
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