BRS 1H16 shoots the lights out, page-29

Already overweight on this baby. I am thinking it will be gradual rise to 1.25 over next 1-2 weeks. Then burst on revised takeover offer. What that is will depend on how serious Ferrovial is on the takeover.

Given the investment on getting approvals and bids. This is not the last offer or they are walking away. They are just waiting for NZ clearance then they will engage with the board at BRS. Negotiate a deal and its over red rover. BRS probably know what the main shareholders want to get the 50 percent acceptance.