I know this is also a HC euphamism but she is a t/over target:
Debt-laden investment fund Babcock and funds managed by it
were sold off on speculation that Babcock & Brwon Chief Executive Phil Green would resign after sharp recent fall in the share price of the company and its funds.
Babcock & Brown was not immediately available for comment.
"There need to be some serious changes made. Green has lost the market's confidence. So if he goes, I guess that is probably a step in the right direction," said Paul Xiradis, chief executive of fund manager Ausbil Dexia.
Babcock shares plunged 23.5 percent to A$3.45, taking losses this year to 87.3 percent. Babcock & Brown Power Ltdlost 28 percent while Babcock & Brown Infrastructure Group Ltd shed 26.5 percent.
"The issue is that there is concern about the value of the its underlying satellite investments, the level of gearing associated with the overall group," Xiradis said.
Babcock's bigger rival Macquarie Group Ltd lost 4
percent to A$48.60, and Xiradis said Macquarie could potentially look at buying Babcock & Brown.
"But the Babcock & Brown model is just putting a bit of pressure on the overall leveraged investment business model, which Macquarie is part of," Xiradis added.
- Forums
- ASX - By Stock
- BNB
- monkey buy: 3.52 nc
BNB
babcock & brown limited
monkey buy: 3.52 nc, page-63
Featured News
Add to My Watchlist
What is My Watchlist?
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.