what's an acceptable takeover price?, page-10

Oz,

Michael Fowler said that the M&G sell off of NXS was 1 of 20 stocks they had to liquidate (trying to make it sound the M&G had problems of their own). He said that an offer was made 'higher' than market for the shares, but they chose to dump on market. Obviously very unhappy with NXS. It was a massive loss.

The sale of a share of CRUX is extremely urgent. Banks cant take a charge over a minority share of CRUX. It sounds like they are in breach of their security. It was a bad week at NXS. Liabilities exceed Assets in the Annual Report, there's your RED FLAG.

FYI, a takeover is unlikely after a read of the Annual Report. Value of a company should be blatantly obvious, and not require a roadshow to explain otherwise. NXS had assets, now its trying to sell a story. Beating the Banks out of $240m is the next prize - take a guess how that will happen.