Pinned straw:
Things are heating up now. Swoop (ASX:SWP) have taken a strategic position in Vonex, of 16.99% and indicated they will vote no on the MaxoTel potential takover at $0.0375. At this stage Swoop have kept their initial offer in place of a mix of cash & scrip totalling $0.04 per share.
Vonex subsequently responded that shareholders should continue to ignore the Swoop offer and approve MaxoTel's
Swoop replied in kind with a much longer letter that you can read here
I did enjoy this slightly snarky paragraph in the letter however
And the intriguing bidding war for Vonex continues with MaxTelco upping their bid to 4.19c
IMO, this bidding war for Vonex is probably an indication there is some value to the company so I had a quick look at the company's most recent financial reports ... and I completely understand
