GREY:NOVUF - Post by User
Post by
uwinsomeon Sep 06, 2013 11:45am
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Post# 21722874
Might There Be Another Competing Bid Coming?
Might There Be Another Competing Bid Coming?It's possible. I think most everybody can agree that this was a sweet deal/steal for Yanchang and Novus Management.
A rival bidder could come in and offer +- $20,000,000 more. That would be about $.10 more per share and it would increase the offer price so that it would still be under the Regulatory bodies limit. It would still be low, in my estimation but closer to fair value.
A Canadian bidder may also step forward. Aparently, Yanchang has the first right of refusal to match any bidder. However, if it was let say $30,000,000 more - now it would require a Canadian Regulatory review. That would make it much more difficult for a foreign/State owned takeover.
Even with this small possibility, I'm not in any hurry to relinquish my shares for 9 or 10 cents lower. I'll wait and see how this plays out.