Been at the centre of a takeover war with COG and Scottish Pacific. COG have pulled out leaving the Scot-Pac bid. It is currently trading at a large discount to the bid, probably as the market has sold off and there are concerns Scot-pac may try to withdraw or renegotiate. Either way we will have a result soon and there are three possible outcomes that are all ok.
1. Bid goes through (maybe at a lower price)
2. Share prices spikes toward the bid price offering a chance for a quick profit.
3. The bid fall through and you are left holding a company that is decent value and a clear future takeover target.
takeover offer for 60c, yet the selling continues
will it happen?