It is now my understanding that when Dingyi found out about this deal between Pala and Harlequin they fought very hard to beat it and tried to counter-offer but it was too late.
This tell me two things.
1. Dingyi desperately want ELM & 2. Getting control of ELM will now be much, much harder.
Gwaihir once posted here about the "Art of War" and that the Chinese are slowly weakening ELM. Well Dingyi have lost out big time here and the problem for them is that it will be very difficult for them to get a minimum 50.1% now unless they offer a hell of a lot more than 66 cents.
As a guess I would say $1+ minimum and then they may have a chance.
There now exists a very strong, unified and dedicated blocking stake of ELM shareholders with alot of skin in the game who are determined to deliver full value to this world class project and to the value of ELM shares. This is great news for all shareholders.
In concluding, I would like to share this priceless bit of history with you all as a fitting analogy for Dingyi and Ian Stalker to ponder over:
1999 "How does it feel to drop the World Cup, Herschelle?" That's what Steve Waugh supposedly said to Herschelle Gibbs on this day, when Gibbs, in prematurely celebrating catching Waugh at midwicket, threw away a chance to put Australia out of the tournament at Headingley. Waugh had 56 at the time - he'd come to the crease with Australia on the brink at 48 for 3, chasing 272 - and went on to an awesome 120 not out. Not only did it keep Australia in the Cup, it put them above South Africa in the Super Six stage, an incidental detail at the time but one that would be of monstrous significance when the two sides tied in the semi-final four days later.
K2P Price at posting:
26.5¢ Sentiment: None Disclosure: Held
