This will make your day black peter
http://nzx-prod-s7fsd7f98s.s3-websit...435/276119.pdf
Business Bakery picking up the tab for a lot of the costs
Printable View
This will make your day black peter
http://nzx-prod-s7fsd7f98s.s3-websit...435/276119.pdf
Business Bakery picking up the tab for a lot of the costs
Still subject to OIO approval
That could be interesting
Hate to observe it as such but announcement is a bit ominous?
If the takeover does not go through for whatever reason, the sp could really tank with the latest profit downgrade.
Highly unlikely as CITIC is not acquiring TIL for the short term profitability but I just wonder if the Baker Boys are very keen to get this deal through so is prepared to cover some of CITIC's costs.
Over and out. Too much murkiness for me. Made some money with TIL (even if I didn't manage to buy at balances $2.10 always right), but can't help - some bitter aftertaste just stays.
Right on the money Balance-I sold out couple of weeks to rebalance my portfolio-I just proved myself right. The "more or less" wording in the guidance is just pure desperation from BB to pressurise shareholders to accept the offer(I guess)...very wishy washy here...
Just the way with takeovers - recall with Tower that the stock was trading at $1.25 to $1.30 before Commerce Commission rejected Vero's $1.40 takeover?
Share price tanked to as low as 75c (40%) before the rights issue was announced.
10c upside there vs 50c downside if deal not approved - easy decision to make.
I think TIL's deal will go through but today's announcement is rather sketchy and smacks of desperate behind the scenes maneuvering to appease CITIC - could be good but could be bad.
When in doubt, stay or get out!
It is pretty much a done deal, with very little room for CITIC to withdraw at this stage. The exact details of the agreement (and the conditions under which the agreement can be terminated) is publicly available, so have a read.
I think OIO approval is the real unknown. Personally don't think the risk/reward ratio is right to warrant trying to pick up the 10 cents.