Damstra Holdings Limited

ASX:DTC
Deleted on 2024-05-01 00:30:04

Damstra Holdings Limited

ASX:DTC
Deleted on 2024-05-01 00:30:04
$0.235 (0%)
Last close price
#390
Rank
8
Held by
41
Followers
Reports (9) My Report Forum Investors
Forum Topics DTC DTC Potential Takeover

Pinned straw:
thunderhead
Added 6 months ago

Well, well, well...Mitratech has walked away after a couple of weeks due diligence (which is not a great sign).

Management is now entertaining a second bid that was received, at a lower price of 27c, from Ideagen. Given the precedent set by Mitratech, any prospects of a deal being consummated here have taken a blow. The market certainly doesn't seem to have any confidence in it, and got it right with the large spread between the market price and the now unsuccessful bid lobbed by Mitratech.
AUROPAL
6 months ago

There goes the hope of a bidding war. I kind of hope the second bidder walks away as well rather than having the company taken over at such a low price.

5
thunderhead
6 months ago

Yeah. There's a good chance of that given Mitratech had a look under the hood and didn't take very long to walk way. Unfortunately, I don't think that will be a good sign of the company's operating and financial health if it happens. The market is giving the takover @ 27c by Ideagen long odds too based on the arb gap.

7