According to Varian, the offer might take that long because of all the hurdles and paperwork.
Yea, maybe scuttlebutt. Anyway we shall get the recommendation from the Sirtex Board soon. the low share price seems to suggest that investors are thinking that they might not pursue the new offer.Is that what Varian in their letter of not competing with the Chinese?
I thought the Varian offer got approved by FIRB, finished their due diligence etc. in only a couple of months. It was due to be voted on and settled by mid June [some 3 months?] after initial bid.
Not sure why the Chinese bid would take until next year.
Yea, maybe scuttlebutt. Anyway we shall get the recommendation from the Sirtex Board soon. the low share price seems to suggest that investors are thinking that they might not pursue the new offer.
Rightly or wrongly, on Fri 1 June 2018, I sold my tiny 244 shares for $29.59. I need money. I brought my first 112 shares Mar 2015 @ $17.75 and my second 132 shares @ $15.21 Jan 2017.
Besides needing money desparately for partner health reasons. This announcement got to me.
https://www.asx.com.au/asxpdf/20180522/pdf/43v6w9kwn7b064.pdf
Especially page 2, where they said they were distracted from selling more doses due to the takeover??? That's. It an excuse! Also Allan Gray stopped being a substantial holder. I know CDH offer $33.60. Yes I have been ripped off $942 - I should have waited until I don't know when?? How many months???
After selling, I felt so (I can't explain it???) Maybe relief that I didn't make a loss?? Maybe ripped off for being a bit impatient??? I felt that this sale was a fluke. Whether I'm right or wrong, I will pay a doctor bill or two and then find another company????
@craft - are you still in SRX??
Damm, I made the wrong call to sell too soon. Anyway, I needed money last week.
Good news indeed.
We are going to get a 30c dividend and should see the money by September, I really thought November would be the earliest we could hope for.
Such a small company and it has an Australian base, surely not?Was thinking... with all the trade wars going on, particularly between US/China. Wouldn't the US just block the takeover just to spite the Chinese?
I mean, event he Canadian are considered "national security threat" with their imports, forget about China getting their hands on nuclear anything right?
And if that were to happen... I suppose SRX will have to live with that additional $200M+GST and a partner into China.
Such a small company and it has an Australian base, surely not?
I still haven't received the money. When are we supposed to get it?
It went into my old Comsec account. [emoji1]Not me. Hmmm.
My issue isn't with Wong selling shares – or the reasons for it – it's what the internal outlook for dose sales was at the time of the sale, beyond the vague forecast of "double digit growth continuing". Six weeks later, after he had offloaded his shares, they were able to firm up that forecast not just for the half year, but also the full year. Maybe I'm jumping at shadows, and as I said SRX has a pretty good corp governance record, but it's not a good look at all.
The corporate regulator has charged the former chief executive of Sirtex Medical Gilman Wong with one count of insider trading.
The Australian Securities and Investments Commission (ASIC) last year was investigating events at Sirtex that took place during the second half of the 2016 calendar year, including the sale of a parcel of 74,698 shares on October 26, 2016 by Mr Wong.
ASIC alleges that Mr Wong was in possession of inside information at this time.
Mr Wong, who apparently sold his shares to pay a tax liability, could now face a maximum prison sentence of 10 years if found guilty. The matter is being prosecuted by the Commonwealth Director of Public Prosecutions.
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