If somehow APA manages to get an extension it shows how much big money actually controls things.
The deadline was for 7pm......... not around 7pm ......or 7pm give or take an hour or two or by 7am saturday morning or even 7pm Friday GMT.
The phones were probably running hot last night and offers being made by a number of people.
Let's just remember what the (known) takeover deal history was...
OK guys we will offer $5.45 for the company lock stock and barrel if we get at least 90%.We will give certain board members a motza if they endorse it as well....
OK then it looks as though there is some resistance so we will ask for an extension....
Damn..did they have to give that latest profit forecast out....
OK we went back to our banks..sorry the banks..and did a bit of tweaking and promised to pay a lot more interest so now we only need 70%..Bob tells us that is a cinch....
OK ..so a few equity groups are holding off....but we should still get to the deadline of Friday at 7pm....guys...guys..can we guys....why have you all left the room.....
OK..So we have got to just after Friday at 7pm and we have to admit we have not got 50%.......Are there any other business's we haven't bought in Australia yet ...
Saturday morning after a long night of phone calls and CHATS....Hey everyone we got over 50% ..
yeah I know it was after Friday nights deadline but that was only a joke wasn't it....you guys were not serious ..were you????
A deadline is a deadline.....if this gets over the line imagine what they will do if they have control of the company and they don't have to answer to anyone...