Because ROC directors painted themselves in a corner with the...

Because ROC directors painted themselves in a corner with the merger with Horizon. By agreeing to a merger where they effectively orchestrated a reverse takeover of ROC by HZN without a premium, they couldn't reject an offer that included a premium...whether this new bid is high enough to win ROC remains to be seen.... the price action ATM suggests there is no serious competing offer on the table at this stage.

Cheers

Dan