Two good points, Matt, thanks. A good reminder that they haven't said final offer price. The other point is that a friend of the suitor could be buying and paying a little more, to tip into the offer. >$21.5m spent today. There would be nothing illegal about a friendly buying and turning over the shares, and it could get PeamCoal's numbers up.
It might now just be a matter of adding up acceptances, as we move towards the acceptance date. They only need 50%- the question is if they want it all.
MCC Price at posting:
$16.03 Sentiment: None Disclosure: Held
