5i Research 5i Research Answer: Augusta is difficult, as HudBay owns 16%, and this decreased the chance of a competing bid. AZC was $2.51 prior to the first bid ($2.00 before it started moving) , so $2 is likely where it goes if the deal does not get done, which is a big drop from today's price. With four months into the takeover, it does not look like another bid is forthcoming. Risks have increased, and we would reluctantly tender.
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5i Research Answer: Augusta is difficult, as HudBay owns 16%, and this decreased the chance of a competing bid. AZC was $2.51 prior to the first bid ($2.00 before it started moving) , so $2 is likely where it goes if the deal does not get done, which is a big drop from today's price. With four months into the takeover, it does not look like another bid is forthcoming. Risks have increased, and we would reluctantly tender.
- See more at: https://www.5iresearch.ca/questions?p=questions#sthash.mzAJPHLy.dpu
5i Research Answer:
Augusta is difficult, as HudBay owns 16%, and this decreased the chance of a competing bid. AZC was $2.51 prior to the first bid ($2.00 before it started moving) , so $2 is likely where it goes if the deal does not get done, which is a big drop from today's price. With four months into the takeover, it does not look like another bid is forthcoming. Risks have increased, and we would reluctantly tender.