It stinks. I'm astounded that the offer was even accepted by the board and then to have it sit so far below the TO price was the biggest indicator that something wasn't right. Once again the Chinese have showed the ASX that they're freakin' hopeless and not to be trusted with iron ore takeovers.
The board have screwed up BIG time. They were taken for a ride and now it's there for everyone to see.
I'd love ASIC to investigate this. Before the TO offer there was some large, unusual purchases. Now that the TO has been pulled someone stands to profit significantly.
Disgrace!!!!!
WDR Price at posting:
65.0¢ Sentiment: None Disclosure: Not Held