prime takeover bid imminent

Prime are clearly preparing for a full takeover of Destra.

Obviously they'll want to pitch the offer at the lowest price at which they can be confident of getting to the 90% threshold at which point they can compulsorily acquire the remainder.

Many existing DES shareholders will be receptive as they'll be looking to crystallise some tax losses by selling stock before June 30 and Prime know this sentiment will work in their favour. They also know that post-June 30 this window of opportunity will close as shareholders hunker down for a new year.

Prime will therefore be looking to mount their bid in time for the transaction to complete before June 30 which will also eliminate the need for a costly, distractive and possibly acrimonious AGM in November.

The time is right.

My guess?...A takeover offer within the next few days at a price of 18-20c.