Right on close, there was a bid of 15.5c. Odd that there was a rush to get in at that price when the takeover price is 15c!
AGK is now at $15.40, implying a MOS price of $15.55, if taking AGK shares. I'm still not sure why anyone would pay 15.5c when there's no arbitrage to be had, either in cash, or on current AGK price (which seldom move upwards.
Maybe the MOS price will move to 16c soon? :D Clearly the market believes there will be some shift or wouldn't be bidding above T/O offer.
gobris said:
"The outcome in my view is likely to be determined by the hedge funds working as a group together with some of the larger institutional MOS s/holders to convey a price to AGL which they will accept. Smaller s/holders can increase the voting power of the hedge funds by voting "no" with their proxy vote or "no" to $0.15 if they are attending the meeting in person."
So thisis possible, gobris? That the hedges can overturn the wishes of the MOS board and push the T/O price up? I'm too inexperienced to know.
MOS Price at posting:
15.5¢ Sentiment: None Disclosure: Held