why i have shorted this! I've been shorting this for a week.
Before the TOL offer I couldn't get $5.92 for my holding. I was on the offer on the Friday then bang the takeover offer and it shot up over $7.00. I sold.
What now? TOL will never own it. It is embroiled in destructive litigation. It is stuck with VBA. It is about to lose the Pacific Rail combination with synergies that won't work on a breakup. It's talking about going into transport- always a warning bell for shorters.
What's it worth when you go past the hype and accept the reality that it is hard to take over under present management.
P&O their competitor is about to get a new aggressive owner. Not good for PRK.
$7? Still looks like a $5.92 share to me.
PRK
patrick corporation limited
two potential scenarios henceforth, page-12
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