STU - Steel & Tube Holdings

**King1212** · 03-10-2018, 11:52 AM

Offer from flecther...

**blackcap** · 03-10-2018, 11:52 AM

Originally Posted by boysy

Sell side volume appears to be thinning also. Agree comment re reinstatement of divi will send this flying ...

someone knew?

https://www.nzx.com/announcements/324803

**Balance** · 03-10-2018, 11:53 AM

https://www.nzx.com/announcements/324803

Takeover offer on 10 September 2018 from FBU - $1.70

Board does not support the offer but why have they kept is so quiet until now??????????????????

**Balance** · 03-10-2018, 12:01 PM

Originally Posted by blackcap

someone knew?

https://www.nzx.com/announcements/324803

Investigation warranted for sure.

**blackcap** · 03-10-2018, 12:04 PM

Well I did say all was hunky dory a few days ago and we would be seeing $1.90 again some time soon. To be fair I was sort of exaggerating but who knows now...

Somethings smells though. They have know since Sep 10, and the SP has been really moving in one direction for a while. Not sure if insider trading has been going on but WTF surely the board should have released that info on Sep 10 with a "board will analyse offer and get back to market with recommendation in due course". Wild wild west prevails.

**steveb** · 03-10-2018, 12:14 PM

Originally Posted by Balance

Investigation warranted for sure.

Surely the directors should have excused themselves from the bookbuild if they had known about the offer?

**Balance** · 03-10-2018, 12:17 PM

Originally Posted by steveb

Surely the directors should have excused themselves from the bookbuild if they had known about the offer?

Offer was made after the bookbuild was completed.

Next stage of the game is that FBU increases its offer?

They can have my shares for $2.00 per share.

**blackcap** · 03-10-2018, 12:19 PM

Originally Posted by steveb

Surely the directors should have excused themselves from the bookbuild if they had known about the offer?

So Susan Paterson buys 117,436 shares, she has done very well. This notice out on 13 September. But its all about timing when they actually signed the paperwork and sent the $. See its on 7 Sep that the transaction happened so that falls well before 10 Sep....

http://nzx-prod-s7fsd7f98s.s3-websit...845/286697.pdf