Continuing the logic ... if they were in the know to the discussions with BPT ... they would have expected a cash windfall of $8m for their 10% or so ... so they would probably have forgone the need for a cr right now.
Therefore ... the logic seems straight forward to me ... VPE must have got wind of BPT's advances.
VPE with new CEO has his own ambitions within Cooper B ... and its un likely to be a subordinate of BPT.
Strategically ... the new CEO of VPE has to be seen to have a go at ITC against BPT if the above is likely ... otherwise he's been defeated by BPT in the Cooper B without firing a shot.
ITC Price at posting:
6.8¢ Sentiment: Buy Disclosure: Held
