Logical Next Steps Re: SurocoIt was obvious that Vetra would make another bid, as the first one was not serious and had Zero chance of succeeding. Some important points:
- Before any Suroco shareholders can take up the Vetra offer, they must first vote against the PTA arrangement.
- Any current retail shareholder would just sell into the market rather than chase the Vetra offer.
- PTA will get to see the results of the voting on their arrangement, then decide if a better offer is necessary. i.e they will not increase their offer unless this one fails.
- Vetra is VERY interested in Suroco's assets, and understands them best.
- PTA gets a free chance to "acquire" Suroco with their current offer, then up it later if it fails. (though I doubt they will need to)
- Vetra has to wait and see how PTA's offer fares before knowing the fate of their offer, at which point it is too late.
My guess is PTA's SP will creep up towards the voting date, and the offer will go through. Vetra may then consider taking a run at the amalgamated entity,
We'll see