28 Jun 21: RDH received a non binding increased bid from ICT.  The offer is now 9.5 ICT shares for 1 RDH share. 

At the current ICT price of $0.12 at 28 Jun 21 =  $1.14 for RDH

ICT @ $0.11 = $1.045 for RDH

This represents a 32% premium to RedHill’s 1-month VWAP of $0.79 per share to 25 June 2021.

UCW will let their offer lapse on 2 July.  So ICT is currently the only bidder.

RDH was up $0.13 (+17%) to $0.90 today on the news. 

RDH appears to be accommodating ICT now that it is the only bidder and the bid has been raised.  ICT has exclusivity for 1 month and is currently doing due diligence.

New bidder for RDH emerged this morning in ICT.  ICT offering 6 shares for 1 RDH share.  ICT @ $0.165 = $0.99 for RDH.  

UCW had bid 4.5 UCW shares for 1 RDH.  UCW @ $0.195 = $0.8775 for RDH. 

RDH share price is up 14.2% to $0.925 this morning.