1. the announcement was not made with full candor regarding the state of financial condition of Empire Resorts;
2. the shareholders do not have an option to vote on the acquisition as the purchase consideration is below the 5% asset value threshold; and
3. the purchase price is now higher than the current market price.
Chart 1: Genm's monthly chart as at Aug 13, 2018_12.30 (Source: Malaysiastock.com)
Chart 2: Genting's monthly chart as at Aug 13, 2018_12.30 (Source: Malaysiastock.com)