for AWE it is a test of just what their ADI stake is really worth
if no counter bidders emerge then even their bid at 40cps may be eventually proved to be overvalued but at least they will have the full control of ADI
if there are other bidders at >40cps then AWE has the option to sell into that bid or escalate
look at the buy side on the ASX
112,070,847 0.400
just waiting to wear down the ADI holders but you have faith in the value of your assets as there has been no break so far
amazing liquidity if you want to sell, no messing around with Scheme of Arrangement type meetings
ADI Price at posting:
41.5¢ Sentiment: None Disclosure: Not Held
