RE:Mandatory extensionSomeone on the UK board said that his broker is talking about a 6 to 8 weeks as standard delay to get the money. And delek are not owner until they paid, so, delek are not yet passed the 90% level that makes them eligible to trigger the forced sell at current mandatory bid offer price of $1.95...
And riverrow, you're right that they can eventually proceed with another offer down the road at a lower price. But they take the risk again that not everyone will tender their shares, that crude oil can resume climbing and that they will have to show Stella production in news releases under the exchanges mandatory rules. Instead of closing it now at current mandatory bid offer of $1.95...They have up to mid july according to my personal math.
I'm not sure the actual average trader on IAE took the time to read the bidder's circular...
All just my pesonal opinion, always do your own dd...