While to the average Joe all take over offers seem similar and all the same, we don't need to go any further than the article you provided to see the difference between TTY situation and Kaboko's today dear nathanblack.
If one is to read this article from The WSJ, he/she will see that Noble provided plenty of support to get TTY to where it was, it supported its project, it provided financial assistance, marketing, global supply chains,etc. basically everything a small aussie cap wanna be a producer dream to have.
TTY prospects grew till it became a much bigger company, a hundred plus million dollar market cap entity with Noble increasing it is stakes gradually, it had to do so, it needed to protect its interest, and secure the supply line it has helped establish and develop.
Then when Exxaro moved in with an offer, Noble had to do it themselves, or let the others swallow up TTY.
To say that Noble is going tomorrow to take over a tiny micro cap like Kab without developing it is prospects and destroy its shareholders wealth, and that both situations are the same, is frankly quite absurd.
The first was a good thing to do, the right thing to do, the second however is the total opposite, and wont win them any friends in the boardrooms of potential future partners.
I know there is a lot of excitement these days, but let us just control the exuberance, just a little.
It is all in the article!..it is all in The WSJ.
:)
KAB Price at posting:
1.1¢ Sentiment: Buy Disclosure: Held