And so it continues. Against the background the end of talks between Clarity Commerce Solutions and its mystery potential bidder, which failed to produce an alternative offer (see here), Enigmatic Investments states its previously increased 25p per share offer is full and final. The deadline has now been pushed out to December 1.
Acceptances of the offer have been sluggish so far with shareholders hanging back to see if anything else would emerge but now that the alternatives have been closed down Enigmatic Investments will be hoping for an increase in take up. It currently controls 39% of the issued shares and needs sufficient acceptances to secure 50% of the voting rights for the offer to succeed. So, the offer grinds on, a testament to what can happen when an offer becomes hostile on the value grounds.