Tri-star Resources Takeover Rumours (TSTR)


Tri-star Resources Chart

Tri-star Resources Takeover Price

Tri-star Resources Takeover Forum Posts

Does anyone know what the 12-month rule in the Takeover Code means - does it mean that an offeror wanting to buy the company has to pay the highest price *the offeror* has paid in the last 12 months, or that *anyone* has paid in the last 12 months? Thanks.
Interesting yes. As the company said that the Takeover Code will continue to apply after delisting, that takeover scenario could still apply. Odey would need 75% of the shares to vote for a takeover I believe is that correct? And 90% to force any holdouts to sell. I wonder if he's aiming to do that, and prey on smaller investors worried about holding an unlisted share. Then he can 'steal' the upside to an eventual fair-value sale to the majority partners at 50p+. But in any case I would imagine that any Odey takeover price would still be substantially above 4p, to ensure a smooth process?
Fine yes, seems logical. But I wonder why Odey isn't buying back an equivalent amount on his own account at these low levels. I suppose that as he has (well!) over 29%, he can't buy any more without being forced to make a bid for the company as a whole under the Takeover Code. But in that case, why doesn't he make a bid? He could take the other 32% of TSTR at probably 6p or 7p, certainly no more than 10p, it would be small beer for him.
The company silence is deafening especially with the takeover rumour flying about.
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