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$9.13 asciano limited

News: AIO Nitro Corp says it extended offer period under takeover bid for Asciano, page-13

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polpak

1,908 Posts.

18

22/01/16

17:18

Post #: 16852678
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Originally posted by zog ↑

I cannot understand why the current SP is $8.39? My arithmetic shows that BF bid is worth ~$9.00 with 90c of this being a fully franked divvy. With the addition of the franking credit superfunds will receive about $9.39 giving a low risk profit of $1 per share (i.e 10.7% return). IMO this is fairly low risk (i.e both Qube & BF bids would need to fall through; or the ACCC ban them both). The upside is that after 18/2 there is an auction and AIO shares are worth more than $9.00 + 39c franking credit. Doesn't make sense to me why punters are not buying more to get the SP up to about $8.75 - $9.00 given that it appears low risk; maybe i am missing something?.

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Agree with zog.

Nitro/Brookfield extended their offer again today until Fri, 5 Feb 2016.

Not much for Nitro/Brookfield to do other than await reviews completion, while waiting they can play on those nervous at loosing their offer to accept earlier.

When reviews released things may change quickly, in either direction.

AIO Price at posting: $8.42 Sentiment: Hold Disclosure: Held
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0 Great analysis

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