Why would TRY withdraw the offer? TRY needs to start up a new mine. AZH has the assets for TRY to do so. Macquarie, AZH's largest shareholder, seems to be on side, and was consulted before the takeover. AZH shareholders get about a 5% premium on TRY shares when they accept and get the TRY shares. So, AZH holders get a bigger dividend.
TRY just needs to get out some good results, or AZH does, to make the takeover seem worthwhile for both parties.
AZH Price at posting:
28.5¢ Sentiment: None Disclosure: Not Held
