No matter which we you look at it WN and their advisors have outsmarted shareholders, previous board and now the authorities. The latest takeover offer was indeed a smart move. They either buy on market at around $2.50 or shareholders accept $1.50 plus confetti but either way they can't lose. Then the intimidation of the 80% de-listing has pushed a few over the edge.
Whether the rest of us will be rewarded will depend on how badly they want the balance of shares to own 100% BRM. IMO the master plan is 100% ownership and if they want to achieve this they will indeed need to reward shareholders. Boards and attitudes change over time so now it is simply a waiting game because IMO it is to late to extend.
The authorities and regulators IMO have been disappointing and their role needs to be questioned. They should have been able to build a case given the events of the last few months. A dangerous precedence has been set because this whole saga is a template for future acquisition of Australian assets by overseas companies at a fraction of the price. This is further evidence of stock market manipulation and something needs to be done.
BRM Price at posting:
$2.20 Sentiment: Hold Disclosure: Held
