MAY is 100% a Better Investment
They board of MEL are just trying to keep their jobs by rejecting the MAY offer. MAY already owns over 20% of MEL which effectively gives it control but the directors of MEL don’t seem to realise that the next shareholder vote after this will be to remove them and put on a board picked by MAY if they convince their shareholders to reject the offer.
Of course Santos/Total will sign a JV agreement with MAY and watch the share price of MAY zoom while the big losers will be MEL shareholders.
Ok ... watch what will unfold and then you will realise that your directors were just trying to keep their jobs and it was nothing more than that but their days are numbered too! So silly and a bad outcome for MEL shareholders.
I prefer MEL reject the bid so MAY shareholders don’t get diluted and then watch MAY simply call an EGM to do just that and remove the MEL board and just take effective control of MEL at no extra cost. Then the share price of MEL will drop like a rock....
MEL directors seem to not mention that any company or person holding about 20% of its share has effective control of the company. What a shame for MEL shareholders but if the offer is rejected by MEL shareholders it will be a big win for MAY shareholders not getting diluted with a bunch of shares and MAY takes Board control of MEL with no further offer coming to MEL. This IMO is the better outcome for MAY shareholders....
Keep your Company please! The share price of MAY will go up if you reject the offer. Please REJECT the offer MEL shareholders!
It’s D-Day and last day for Total JV to let us know one way or the other. It’s unusual it goes to the line but there could be discussions going on centered around some renegotiations ?
I expect an announcement at end of day
All these funds are going to STX either way ...