Less than 24 hours after China Minzhong released their refutation to allegations of fraud, Glaucus Research has issued a step by step rebuttal.
You can download the report by Glaucus Research on China Minzhong Food here:
I must say I’m quite impressed with their speed in examining China Minzhong’s refutation, and coming up with a detailed response to it in about 18 hours.
Earlier, it had taken China Minzhong almost one week to come up with their refutation.
Will this latest rebuttal put Indofood off from making their takeover offer? We shall see.
Update: Indofood has made their general offer. Price is at $1.12.
Indofood Offer Document
Minority investors can now breath a sign of relief.
Whether Glaucus is right or wrong, the outcome is that Glaucus will lose money, minority investors will make money, and Indofood will bear the consequence of the truth.