There is a lot of smoke at the moment and I'm just thinking aloud here:
- Last years strategic review failed to uncover any potential suitors. Therefore I believe speculation that whoever is accumulating is pitching for a takeover is unlikely, given any potential suitor had the opportunity to purchase the company at a lower prices over the past few months. What has materially changed in the past few months to increase their appetite for a T/O of BND?
- SP has increased by over 60% in the past 2 months on heavy volume. If a suitor had managed to deflate the SP so well in the months preceding that, why would they have allowed the price to rise so hard/fast without getting their fill first? (there has yet to be a substantial shareholder notice update so I'm assuming this hasn't occurred)
- I believe the most likely scenario is larger instos have heard whispers of impending JV deals/funding, or say the divestment of Galilee permits, and are now rating the companies ability 'to make it'
- What is interesting is that a number of the foundation investors are selling down large parts of their holdings. Although the increased liquidity in what was a tightly held register is welcome, what is driving their divestment?
BND Price at posting:
79.0¢ Sentiment: LT Buy Disclosure: Held
