My broker advised me this morning that trades totalling 371,311 went thru a Hong Kong based broker on monday. The Share sale agreement says Tiresias - Hong Kong for the same amount.
If the Aussie based insto's were so happy about the deal, then why dont they sign a share agreement with ALS? Why dont they sell on-market now at a higher price?
They all know that this is the first round of a long battle, this offer will go on and on (think of the fees for Minter Ellison), but CPB could always quicken the process.
Either:
An offer based on 2011 numbers.
or
Make their bid final at $3.35.
(Making it final means they cant come back with another offer for 6 months).
Long way to go people and CPB will not want to hold a minority interest.
Pep
My broker advised me this morning that trades totalling 371,311...
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