Post by
bronte on Apr 18, 2009 10:45am
Tundra
Unbelievable. In order to get this deal done we have to pay almost double what the market value was in a friendly takeover. This should have been an all cash offer to star with, why we are issuing shares when they are so low is the first sign of incompetence. The second sign is the fact we upped the price when there is no competing offer. It looks like GND mgt got in a state of panic and were out manuevred by the TUN institutional shareholders. If this deal made sense GND would have paid all cash, with good results the share price would have risen and then shares could have been issued at a higher price and therefore less dilution.
BBB