ALS picked up another 371,311 shares today through a share sale agreement with Tiresias Capital, but don't be fooled here, Tiresias bought these shares on-market on two days ago at $3.50.
Why would an "absolute returns" fund buy stock at $3.50 when the offer is at $3.35? The conversion to CPB shares is only $3.51.
Tiresias know that CPB will be backed into a corner with their minority holding and will have to offer shareholders more coin, its the only way CPB can win this fight.
Retail holders control this fight, I just dont think that CPB management or Minter Ellison have worked it out yet.
Pep
AEC Price at posting:
$3.50 Sentiment: None Disclosure: Held
