re: Ann: Wah Nam Offer Extended Until 20 Febr...
A sign of WNI's weakness.
They can extend it for as long as they like.
The reason why WNI managed to warehouse so many shares last time was because they paid BIG BUCKS for them...around $4 - $5 bucks. Plenty of sellers at that amount.
Now, they will find that even at $3 cash, they would get little response (let alone $1.5 + dunny roll).
WNI will have no choice but to fork out an all cash deal.
If the market and sentiments improves, then even at $3 cash, WNI will be hard pressed to get through the line.
A $3 ALL CASH deal when the ASX was around 4000 points, it didn't look generous.
If the AASX climbs back to 4300 - 4400, then WNI's plan is over.
BRM Price at posting:
$2.05 Sentiment: None Disclosure: Held
