BEL have just sold their holding of MPO for 13m so they have the cash to buy SRK. Agree that the take over is not fair or reasonable but for those (like me) who like cash in hand it is OK and I cant see why anyone would now sell on the market for 5.2-5.3 cents when they can accept the bid for 5.5 - there are no conditions (apart from prescribed occurrences) so it seems like free cash for a relatively short holding period. The take over is scheduled to close on 2 Sep (which means that you have to buy by Friday if you want to accept - remember T+3) .
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My advice is free and worth every cent
SRK Price at posting:
5.2¢ Sentiment: Hold Disclosure: Held
