What is the reasoning behind ARG holding shares in other LICs? In the lastest NTA announcment ARG announced they had large holdings in the following LICs
Milton Corporation Ltd. $182.7million Australian United Investment Company Ltd. $122.1million
Was it a case of Argo seeing MLT AUI trading well below NTA so they took advantage?
I also have noted AFI have a sizeable stake in MLT.
To me LICs holding other LICs would suggest at some stage they may have thought about a full merger. I am not suggesting any mergers will happen. Any thoughts on this?
ARG Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
