This $50,000 report has been quickly produced as it mention's yesterday's further MYR SP fall.
This morning, 'Mr Market' remains negative on MYR, down 0.89 per cent to A$0.8325 by 1014 ASEDT, a decrease of 0.89pc although earlier it had been down more than 1.4pc.
The special meeting will presumably easily pass the proposals but some may be thinking 'MYR is being sold the dregs of Solly's retail empire' or 'MYR is overpaying'.
Against that, savings should occur from this 'merger' although MYR needs to get its National Distribution Centre at Ravenhall, Victoria up and running. It seems to have been plagued by significant delays. There's no public discussion I can find as to whether the robotic technology installed works to MYR's satisfaction.
MYR Price at posting:
83.3¢ Sentiment: Hold Disclosure: Held
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