rci takeover, page-2

Although Mr Wu has only formally pledged 19.9% of RCI (plus options over 200m shares) he said in his initial statement on 21st May that:
"I intend to accept the Offer in respect of all of my shares in RCI, in the absence of a superior proposal."

As of 21 June, Linyi hold 25%. With Wu's pending acceptance there is no doubt that the 50.1% minimum condition will be satisfied. The only hold ups are regulatory approval here and in China. The market has certainly woken up to this and the gap between the market price and the take over price has narrowed, as it should given the low risk nature of the bid, IMO.

I am intending to accept the bid for my (small) holding.
--
My advice is free and worth every cent.