(10-01-2013, 05:54 PM)ngcheeki Wrote: [ -> ] (10-01-2013, 04:42 PM)cfa Wrote: [ -> ]When is the last day for acceptance of Simon Cheong 's offer ?
Closing Date 5.30 p.m. on Wednesday, 16 January 2013(or such later date(s) as may be announced from time to time by or on behalf of the
Offeror)
http://info.sgx.com/webcoranncatth.nsf/V...900394B10/$file/Offer_Doc_19_Dec.pdf?openelement
Don't hold your breath as the offer closing date will be extended, not once and may even be a 2nd time
(10-01-2013, 08:34 PM)Jacmar Wrote: [ -> ] (10-01-2013, 05:54 PM)ngcheeki Wrote: [ -> ] (10-01-2013, 04:42 PM)cfa Wrote: [ -> ]When is the last day for acceptance of Simon Cheong 's offer ?
Closing Date 5.30 p.m. on Wednesday, 16 January 2013(or such later date(s) as may be announced from time to time by or on behalf of the
Offeror)
http://info.sgx.com/webcoranncatth.nsf/V...900394B10/$file/Offer_Doc_19_Dec.pdf?openelement
Don't hold your breath as the offer closing date will be extended, not once and may even be a 2nd time
If it doesn't, will the share price fall as an result?
I believe that a lot of people are looking at the wrong way.
If Wheelock is on the same boat with SC, it does not matter whether SC extend his offer or not. Wheelock can continue to buy from the open market at its own pace til the public float falls below 10%, which helps SC to suspend the trading of SC Global share.
Those who are expecting Wheelock to counter-bid SC are day-dreaming. It does not make any sense for Wheelock to counter at all.
Investors should get a sense why SC Global is trading at 1.80. That's because SC offered 1.80 to privatize SC Global. Before the offer, SC Global largely were traded around $1 only. If SC does not extend his offer further, investors should ask themselves whether they can get a better price. Now ask the question, does SC need to extend his offer to suspend the trading of SC Global's share?
(10-01-2013, 09:12 PM)freedom Wrote: [ -> ]I believe that a lot of people are looking at the wrong way.
If Wheelock is on the same boat with SC, it does not matter whether SC extend his offer or not. Wheelock can continue to buy from the open market at its own pace til the public float falls below 10%, which helps SC to suspend the trading of SC Global share.
Those who are expecting Wheelock to counter-bid SC are day-dreaming. It does not make any sense for Wheelock to counter at all.
I fully agree with you on this one. a counter offer from wheelock is just day dreaming. for wheelock to buy at its own pace, they need to have many extensions of the offer so that they can mop up the ikan bilis shareholder who just throw in the towel when they see that wheelock is not counter offering. the time to punt is when they are near the 10%, then they will buy at whatever price. that's when you unload to wheelock
(10-01-2013, 09:22 PM)Jacmar Wrote: [ -> ] (10-01-2013, 09:12 PM)freedom Wrote: [ -> ]I believe that a lot of people are looking at the wrong way.
If Wheelock is on the same boat with SC, it does not matter whether SC extend his offer or not. Wheelock can continue to buy from the open market at its own pace til the public float falls below 10%, which helps SC to suspend the trading of SC Global share.
Those who are expecting Wheelock to counter-bid SC are day-dreaming. It does not make any sense for Wheelock to counter at all.
I fully agree with you on this one. a counter offer from wheelock is just day dreaming. for wheelock to buy at its own pace, they need to have many extensions of the offer so that they can mop up the ikan bilis shareholder who just throw in the towel when they see that wheelock is not counter offering. the time to punt is when they are near the 10%, then they will buy at whatever price. that's when you unload to wheelock
if you think(I infer from your earlier post) Wheelock and SC are aiming the same target, why should SC extend his offer? Let's say that SC closes its offer on Jan 16th. Wheelock can continue to mop the shares from open market to drive the public float below 10%. What's better for both is that probably right after SC closes his offer, Wheelock can buy more at cheaper price. After all, before SC's offer, SC Global is trading around $1 only. Of course, the above imagination of mine depends on non-urgency of privatization. Anyway, if extension of offer is okay, then close of offer harms neither of the parties.
(10-01-2013, 09:31 PM)freedom Wrote: [ -> ] (10-01-2013, 09:22 PM)Jacmar Wrote: [ -> ] (10-01-2013, 09:12 PM)freedom Wrote: [ -> ]I believe that a lot of people are looking at the wrong way.
If Wheelock is on the same boat with SC, it does not matter whether SC extend his offer or not. Wheelock can continue to buy from the open market at its own pace til the public float falls below 10%, which helps SC to suspend the trading of SC Global share.
Those who are expecting Wheelock to counter-bid SC are day-dreaming. It does not make any sense for Wheelock to counter at all.
I fully agree with you on this one. a counter offer from wheelock is just day dreaming. for wheelock to buy at its own pace, they need to have many extensions of the offer so that they can mop up the ikan bilis shareholder who just throw in the towel when they see that wheelock is not counter offering. the time to punt is when they are near the 10%, then they will buy at whatever price. that's when you unload to wheelock
if you think(I infer from your earlier post) Wheelock and SC are aiming the same target, why should SC extend his offer? Let's say that SC closes its offer on Jan 16th. Wheelock can continue to mop the shares from open market to drive the public float below 10%. What's better for both is that probably right after SC closes his offer, Wheelock can buy more at cheaper price. After all, before SC's offer, SC Global is trading around $1 only. Of course, the above imagination of mine depends on non-urgency of privatization. Anyway, if extension of offer is okay, then close of offer harms neither of the parties.
For those die hards who did not accept the offer, they are not likely to sell after offer close at much lower price. even if there are such sellers vol is insignificant and sc/wheelock will quickily mop it up.
reason for extension is so that sc can still buy it at the offer price instead of letting wheelock up the price from open mkt and having to pay up when they finally settle the bill among themselves....conspiracy theory??
(10-01-2013, 09:40 PM)Jacmar Wrote: [ -> ]For those die hards who did not accept the offer, they are not likely to sell after offer close at much lower price. even if there are such sellers vol is insignificant and sc/wheelock will quickily mop it up.
reason for extension is so that sc can still buy it at the offer price instead of letting wheelock up the price from open mkt and having to pay up when they finally settle the bill among themselves....conspiracy theory??
The volume exists no matter who(SC or Wheelock) is providing the support. The immediate withdrawal of offer could create a situation that certain minority shareholders who are betting the offer extension rushing to the door. It is quite a classic game theory. If no one sells after the offer closes, everybody would lose(Wheelock/SC/minority shareholders). It requires nerves of steel to withstand.
from the past few weeks experience, SC is not getting any from open market. Whether he extends the offer or not is quite artificial.
If the offer expires, does it mean SC can now buy openly from the market and compete with Wheelock (instead of being limited by 1.80)?