Nexus Energy, the next takeover target
Posted by BBY on 24 August 2011
Shell's proposed joint cash offer for Bow Energy (A$1.435, -0.3%) at A$1.48ps, is at 67% premium to BOW's previous closing price (A$0.885ps), we feel a similar situation could potentially occur for Nexus Energy (A$0.205, +13.9%).
Santos (A$11.32, -3.7%) recently offered a A$0.90ps (to mop up the remainder of Eastern Star Gas (A$0.76, -2.6%) it did not own) which was at 51% premium to ESG's close of A$0.595ps on 15 July 2011.
While far from certain, a potential opportunistic bid for NXS based on a similar "premium" would imply a NXS share price of about A$0.30ps - i.e. cheap. We doubt whether investors would cave in on this hypothetical scenario given we think NXS is worth more than this. Our valuation is A$0.74ps with a Strong BUY recommendation.
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Mkt cap ! $58.43M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
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1 | 20382 | 20.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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21.0¢ | 26837 | 1 |
View Market Depth
No. | Vol. | Price($) |
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1 | 20382 | 0.200 |
1 | 61100 | 0.190 |
3 | 77961 | 0.185 |
5 | 80233 | 0.180 |
2 | 21000 | 0.170 |
Price($) | Vol. | No. |
---|---|---|
0.215 | 34088 | 2 |
0.220 | 88792 | 2 |
0.225 | 4444 | 1 |
0.240 | 10000 | 1 |
0.250 | 28990 | 2 |
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