The Australian's Data Room column suggested any takeover bid for Z Energy was only likely to emerge after the vote but ASX-listed Ampol (formerly Caltex Australia) could be a potential bidder.
Ampol own Gull here so I would think they might struggle to get Commerce Commission approval. I was surprised how much their tobacco sales were and how they're looking to wane over the next few years. Increasing shop sales by 20% looks like a real challenge against that backdrop especially in light of recent new Govt support to encourage EV uptake.
A long sunset for this industry but the degree to which it has been hastened by EV subsidies of up to $8,625 per vehicle should not be underestimated in my opinion.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
But re gull, I would imagine they may sell it off via ipo or to a private equity firm. To get 40% (from memory) of market share by acquiring zel and applying gull's low cost business model with the bonus of all the infrastructure and sites that zel provides, it is an ideal buy.
Originally Posted by sb9
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