Friday, December 07, 2007

WHOOT: Acceptances have slowed and Wotif needs more time

WHOOT series update - WHoever Owns Outright

In our last instalment of the WHOOT, all seemed rosy for Wotif in its bid for 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.


Anonymous said...

so we are here glued to our screens grazing on popcorn.............

What happens if they don't get 75%?

Tim Hughes said...

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