WHOOT series update - WHoever Owns Outright Travel.com.au
In our last instalment of the WHOOT, all seemed rosy for Wotif in its bid for Travel.com.au. The acceptances were flooding in driving the Wotif stake to 58% with 18 days to go. However in the last week the acceptances have slowed. On December 5 we had a filing for 59.2% and December 6 for 59.74%. Later on December the 6th Wotif tells us they are extending the deadline for acceptances from December 17 until January 11. AOT is still holding on to 19% which means that Wotif needs practically every other shareholder to accept to reach the magic 75% required. This ain't over yet.
2 comments:
so we are here glued to our screens grazing on popcorn.............
What happens if they don't get 75%?
deals off. Any of the acceptances they have received based on their offer doc go back to original shareholders. I think they have actually paid for 19.9% so will be stuck with that
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