latest on takeover rumour?, page-5

Hi Soupy

On 07/02/05 you said:

"its no take over. its it will be paying $1.20 per share paying $100 mil for shares totaling 25% of the issued shares in the coy.the $100 mil will be used to retire debt and leave around $50 mil for working capital"

What actually occurred was:

It is a takeover (although termed a merger).
No one is paying $100m.
Initially priced at $1.10 a share.
For 100% of the company.
Cash will not be raised/used to reduce debt or for working capital - debt will be absorbed by, and working capital provided by, the merged entity (essentially CEY).

So I wouldn't say it was "pretty close to the mark".

Anyway, I hope all AUO holders are happy. I know that "all scrip" takeovers are not my idea of favourable - I'd rather be offered cash than shares in another company (if I'd wanted shares in CEY I would have already owned them rather than AUO).

Regards
Beefheart