Post by
Marlbank on Sep 04, 2013 5:13pm
Thoughts on alternative bids and why there is selling into the low price...
I don't know if a new bid will be made but it seems obvious that a few pennies more would knock Yangchang out of contention by pushing the total pricd above $344m. A domestic offer at $1.30 and the whole game changes.
I sold a third of my holdings today for two reasons: 1) To free up cash for other pursuits and; 2) To hedge my bet against any number of further twists in the tale. Three months is a long time to wait for 10c, so I'll play it day by day with the remainder of my holdings. Was selling the right move? Selling for a profit is always the right move...