Looks like Downer is struggling to raise money for the purchase;
"Broker UBS is seeking to sell 45 million shares in Downer EDI that were not taken up by institutional shareholders as part of the company's rights issue. According to terms sent to fund managers on Wednesday afternoon, UBS was seeking bids in 5¢ increments from the $5.95 floor price."
http://www.copyright link/street-talk/ubs-kicks-off-downer-edi-shortfall-auction-20170321-gv3gpk
Ive never shorted before, but knowing a bit about what they are getting for their money and the associated risks, and given their own share price looks overvalued, Downer might be an obvious short.
Wow - a mega disaster in the making, page-4
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Last
$5.46 |
Change
-0.030(0.55%) |
Mkt cap ! $3.666B | |||
| Open | High | Low | Value | Volume |
| $5.47 | $5.51 | $5.44 | $6.106M | 1.117M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 36593 | $5.46 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.51 | 2955 | 2 |
View Market Depth
| Last trade - 16.10pm 02/10/2024 (20 minute delay) ? |
| DOW (ASX) Chart |