Yes...a bit strange, but as you say, seems like the deal is only getting better for LIO.
I always thought the initial bid was a little low...and now it would appear that there are two bidders interested...and that US$5m is the least they can expect.
This is about AUD$1m more than the initial offer, after the prevailing exchange rates are taken into account.
Still a little low in my opinion, but it equates to cash of about .003c per share...and by extention, a value on the rest of the company...including Oseil...of just .003c at the current price?
Might be room for a higher share price, but not sure who would be game to buy-in given their track record.
Should know in the next day or 2 if the "transfer" of funds goes ahead...at which point I suspect there may be a little more interest from the galery.
Cheers!
LIO Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
