PGW - PGG Wrightson

[sb9]

Strong close Friday - might bode well for tomorrow.

Getting interesting now as to how this plays out...

[Balance]

Getting interesting now as to how this plays out...

BABL is close to building up a 10% blocking stake - means Agria will have no option to deal with BABL and the two potential Australian bidders (Elders & Ruralco) are locked out at this stage.

Be very surprising if informal discussions or approaches are not taking place.

Nobody pays $2.75 (20% above market) for a non-controlling stake.

[sb9]

BABL is close to building up a 10% blocking stake - means Agria will have no option to deal with BABL and the two potential Australian bidders (Elders & Ruralco) are locked out at this stage.

Be very surprising if informal discussions or approaches are not taking place.

Nobody pays $2.75 (20% above market) for a non-controlling stake.

Those are my thoughts too, something's cooking behind scenes by the looks.

[nztx]

Those are my thoughts too, something's cooking behind scenes by the looks.

Yep .. highly likely IMO - especially with REL / Cushing interests selling out too ..

[sb9]

BABL is close to building up a 10% blocking stake - means Agria will have no option to deal with BABL and the two potential Australian bidders (Elders & Ruralco) are locked out at this stage.

Be very surprising if informal discussions or approaches are not taking place.

Nobody pays $2.75 (20% above market) for a non-controlling stake.

Bang on, they've just upped their stake to just over 10% as per notice issued today. As expected, they've been buying on market over past few days, GAME ON!!!

[iceman]

Bang on, they've just upped their stake to just over 10% as per notice issued today. As expected, they've been buying on market over past few days, GAME ON!!!

They better hurry up before Winston stops them in their tracks after talking the hard nationalistic talk in Parliament yesterday about protecting our industries and food production. Elections coming up !!

[Balance]

They better hurry up before Winston stops them in their tracks after talking the hard nationalistic talk in Parliament yesterday about protecting our industries and food production. Elections coming up !!

Good point - and rightly so that NZ assets and businesses should not be sold cheap to overseas interests. That happened of course post 1987 Crash and 2007 GFC.

Not an issue however with PGW as already majority foreign owned.

[Balance]

Bang on, they've just upped their stake to just over 10% as per notice issued today. As expected, they've been buying on market over past few days, GAME ON!!!

So they have got their blocking stake which puts BABL in pole position to gain control - just needs to buy Agria's stake of 44% and make a full takeover bid.

Meanwhile, they seem happy to keep accumulating at under $2.75 which means that they can accumulate another 7m shares before they hit the 20% ceiling.

[percy]

We looked forward to something like this happening.
Now that it is I find I have mixed feelings.
Thought I had found a solid company with the capacity to keep paying me great diviies.
If we do get taken over, I guess I will find somewhere else for the funds.
Should be plenty of bargains around in a few months.

[iceman]

We looked forward to something like this happening.
Now that it is I find I have mixed feelings.
Thought I had found a solid company with the capacity to keep paying me great diviies.
If we do get taken over, I guess I will find somewhere else for the funds.
Should be plenty of bargains around in a few months.

Ditto. Exactly the same here and has become my 2nd biggest holding. I hope we don't lose it