Hopefully for the sanity of the ASX market, the mental health of the sellers/ shorters will improve and this was the end of the bargains. The ASX participants seem not to understand takeovers, they r so few of them on the ASX (even the NZX has more and the NZX is a much smaller market).
I think this DOW situation is like Boral (which after Headwaters sold off to $5 with this same sort of broker downgrade and downramping trashtalk, now it is back up to $6, high $5s), the naysayers proved wrong.
Spotless Group seems to work for me. DOW is trying to become another Compass Group with the mining thrown. They want to move away from the MacMahon Holdings/ Worley Parsons tinge.
This way, it will not be just Compass Group that has a go for it. The DOW taking over Spotless opens up DOW/Spotless to bidders such as Aramark, Unifirst, GK, Sodexho or Wood Group/ AMEC or Worley Parsons or even Cintas and moves it a little more horizontally than just the likes of Schlumberger, Petrofac and McDermott.
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