Over 20 minutes later and STU still haven't announced anything...
They giving FBU a call apologising for there arrogance and begging them for a deal at $2.10?
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Over 20 minutes later and STU still haven't announced anything...
They giving FBU a call apologising for there arrogance and begging them for a deal at $2.10?
Very odd doesn’t reflect well on either party does it ?
That is because before these rumours/announcements, there was nothing to suggest that anyone might be remotely interested in STU. That perception has changed, especially now that we know that FBU had put an offer of $1.90 on the table. (after an initial offer of $1.70). I guess you could call the extra 30 cents a "potential takeover premium".
We have an implied value of at $1.90 per share here right - how that can be a bad thing?
Yep you wonder if FBU are looking to buy a stake and go hostile on the board .... could be an interesting ASM next Thursday ....
I can see that reverse takeover happening now STU have found the $7 billion and are just finalising the terms!!
Some advice to the Commerce Commission;
If the merger goes ahead where there are now two warehouse or distribution premises in the same area one of them must be immediately divested.
Where the premisses are owned they must be sold without any restraint of trade conditions.
Where leased they must surrender the lease when the landlord finds a new tenant even if this tenant will compete with the merged entity.
If the closed premises have any cutting, folding, machining or materials handling equipment it must be held in situ and be available for sale on an unconditional basis. Any scrapping of this equipment will require the approval of the commission.
Boop boop de do
Marilyn
What seems really strange to me is that STU has not informed the market that FBU has withdrawn its offer. That should have come out at the same time, as it would be material one would think. Or did FBU not even inform the STU board that it had withdrawn its offer? WOW!