Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Thank you as usual for your reports. As you are aware ESS is in the final stages of a takeover/buyout. The agreed offer is 50 cents/share. What could be the investment logic of buyers offering 51 cents at this late stage? As an agreed shareholder awaiting my cheque in May am I missing something?
Hi Brian,
The deal is yet to be voted on by shareholders, which happens on the 20th April. Investors would only pay ‘overs’ if they thought a higher bid was coming. The largest shareholders (Odey Asset Management) has been selling into the on market demand.
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