Fair points Blackrivered, but this is OZ ("Keep your eye on the prize!"). Chairman Bazz (nominated for "Worst M&A Award of the century") doesn't take a lot of notice of us mere shareholders. We didn't even get a vote on his "brilliant" idea to merge our company Ox with Zinifex, then when the unappreciative, imsignificant rabble called "shareholders" didn't routinely approve the $10 million golden handshake to OH at the AGM, he spat the dummy and wouldn't take any questions or comments, then he ignored the vote and found another way to do what teh majority of shareholders had voted against anyway! His demeanour is arrogant and dissmissive of shareholders at every meeting - obviously thinks we are scum.
So then, how will he go about this? I reckon he will just sell PH to BHP for a price. That way, as usual, no shareholder vote is needed. We get to keep all the overpriced crap like Century and - again as usual - we get no say in OUR company. Bazza is probably working with the lawyers on it right now!
Sadly, this is the standard Bazza/OZL modus operandi - shareholders are to be held in contempt at all times possible. Thus, I beleive PH is likely to be sold as an asset rather than obtained through a competitive takeover.
OZL Price at posting:
$5.50 Sentiment: Buy Disclosure: Held
