ALS Ltd - ALQ (Was Campbell Bros, CPB)

[soulman]

Thank you CPB. I've been soaking up a few PSTO the past few weeks mainly because of the arbitrage opportunity when converting to PST but also because I thought CPB could return with more cash.

Sic Mark and congrats at the same time. I missed, I missed and I missed. 3 strike and you are out. On Wed or Thurs last week, someone had 100K PST for sale at 52 cents. I said to myself, I'll have some of those before that 1 cents div this week. But suddenly, I let my eye off this girl and she got away.

2 easy misses this year - BRG and PST. What a donk.

[macduffy]

The consolation prize for CPB holders is that the SP is up 63c today in what is a pretty dismal market. A combination of approval of the Pearlstreet business and the end of rights trading? More the former, I suspect.

[mark100]

Sic Mark and congrats at the same time. I missed, I missed and I missed. 3 strike and you are out. On Wed or Thurs last week, someone had 100K PST for sale at 52 cents. I said to myself, I'll have some of those before that 1 cents div this week. But suddenly, I let my eye off this girl and she got away.

2 easy misses this year - BRG and PST. What a donk.

I thought something was up with PST yesterday. A few keen buyers around and I had the chance to buy more PSTO at 13c but figured I had enough. Doh!

I missed BRG as well soulman. Had it on my list as a near certain takeover play but never got around to buying. If Solly Lew doesn't accept and the BRG price falls I might buy a few. I remember what happened with Lew and Colarado a few years ago. Lew got mopped up later on for a nice profit.

[h2so4]

Thank you CPB. I've been soaking up a few PSTO the past few weeks mainly because of the arbitrage opportunity when converting to PST but also because I thought CPB could return with more cash.

I thought that too but didn't do anything about it. Well done mark and macduffy.

[h2so4]

Arbitrage??? Buy PSTO at .36 and pay the exercise price of .36 then sell back to CPB for .75. A 4% profit, if it happens in a one month time frame, that makes it a 48% pa return. Reading the announcements there appears little chance the TO will not complete. A no brainer perhaps but even the smallest chance that it doesn't complete makes it too risky for me.

Good Luck!!!!!!!!!

[macduffy]

Well done, Mark!

I had intended to do something similar but took my eye off the ball - watching gold stocks, I think - so missed out.

Will have to be satisfied with the great run that CPB's giving me. I applied for over-subscription in the rights issue, but not much chance there I would think with the rights trading around $5!

Much to my surprise it looks like CPB shareholders who applied for oversubscription have struck paydirt!

The issue closed oversubscribed but those who took the chance have been allocated up to the lesser of 2129 shares or three times their entitlement.

Not a bad deal at $22 with the shares now trading at over $28!

[winner69]

Plenty more action to come here methinks

Press says Orica interested .... let CPB get over the latest takeover activity and may be all on again

[macduffy]

Yes, winner, it's certainly all action with CPB with takeovers of Pearl Street and Ecowise in the last year although the bid for AEC seems to have hit some opposition.

But what's this about Orica? The only articles I've seen are linking Orica with NPX.

[winner69]

Think ORI have had CPB on their radar for a while to add to their mining services (beyond explosives) business ... like Minova isn't an explosives business but do a lot of in mine engineering

CPB would be good for ORI..... maybe hocking off the Chemicals business to pay for CFB?

[macduffy]

Think ORI have had CPB on their radar for a while to add to their mining services (beyond explosives) business ... like Minova isn't an explosives business but do a lot of in mine engineering

CPB would be good for ORI..... maybe hocking off the Chemicals business to pay for CFB?

Right, I see the connection.

CPB has an M/Cap of almost $1.9b but I guess a company of ORI's size would be able to handle that. A bit more, actually, as I'd be expecting rather better than current SP!

Cheers