re: coles myer board rejects .. so when do they go CML is a...

re: coles myer board rejects .. so when do they go CML is a complex situation.
They have a higher than normal retail shareholding which, in the event of a hostile bid, will remain loyal to the board, and the bid could get expensive to the point that there is nothing left for the bidders.
In any event, a hostile bid would probably involve some sort of pre-acceptance from Solomon Lew and that Greek bloke who own major shareholdings. I believe the latter would be a seller at $14-$15.
WITHOUT A LOT OF CONVICTION, I predict that a hostile bid will not get up, and the price of CML will drop.