Yes, Footsie. The thrill of the chase!
( bty, I'm encouraged when I look at your great record over the last few years. Hate to think what mine is in the period 1961 -2008 ! )
;)
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thanks 2008 hasnt been kind to me.... but there is still 8 months to go and a takeout in BVA will do wonders for my overall p/f.
Will we find out this morning..... or will we have another extension to suspension.
Anything over $2 will make me happy.
Company has requested another extension to suspension.
;)
Bravura and Ironbridge Capital in advanced negotiations for scheme proposal.
Basis of a proposed price of $1-73 per Bravura share.
I'm not very impressed!
:(
They will need to do better than that!
18% premium wont cut the mustard for a takeover.
You wont get the likes of fisher selling for that price
It needs to be AT LEAST $2.00
i suspect the low price all relates around the LIFT issue
P/equity are always trying to get bargains.
I'm hoping that the disclosure will flush out another bidder. ie CPU might say...... gosh at 1.73 we'll buy it.
Huntley says:
- BVA is engaged in discussions with private equity group Ironbridge Capital that may lead to a bid at an indicative $1.73.
- The stock is in suspension after Directors’ shares became caught up in the failure of Lift Capital, another equity business that allegedly borrowed funds using clients’ stock as collateral. Principal funder of Lift, Merrill Lynch, has declared a 31% holding in BVA.
- We are surprised at the price, which represents a relatively small premium to the prevailing – in our opinion – depressed share price.
- We think there is a high probability a competing bid will emerge, which we believe needs to be at least $2.00 to succeed
- Computershare is rumoured to be interested and would be a logical buyer.
- If the directors have in fact lost their stock this unfortunate situation could weaken the Board’s resolve. Nor would we expect Merrill’s to put up much of a fight.
- We recommend accumulation below $1.75
The Ironbridge t/o of Bravura has been confirmed at $1-73.
:mad: