afr page 15 .....possible to target, page-7

Hi Ridd ick,
yeah mate I agree it's speculation, but it's also pure speculation on your behalf when you nominate specific companies as being their likely targets.

GBG does not have the cash assets nor the affordability (cash needed for capex), nor an ability to launch a debt funded takeover of anything but the very smallest of companies. So any takeover initiated by GBG will have to be by way of a merger, or virtually an all scrip bid.

Don't forget, SDL/GBG merger was a reverse takeover of GBG, so they have already been a target and have had one bid for them, so even though you state a bid for GBG is pure speculation, it has already been attempted.

With GBG's market cap at the level it is, the board will be displaying gross stupidity in issuing GBG shares at anywhere near the current shareprice.
GJ will be out on his behind before you can blink if they start issuing 100's of millions of shares for a takeover at a GBG price of around $1.15 say, while offering a 50-80% premium for their target.
It would be ridiculous, wouldn't you agree?

That to me, at the moment anyway, puts a brake on GBG as being a bidder in the near term, but moreso, leaves them wide open to attack from an acquirer while their share price is floundering at this level.

So I'd disagree in that respect and say that, at present anyway, while the MC is so low, GBG is more of a target rather than a bidder for anything other than the very smallest of companies.

An SDL style merger, whereby around a billion GBG shares will be needed to be issued at the current GBG shareprice, will be harmful to GBG shareholders and GBG's reputation long term. I would not be in favour of it.

It looks to me more like going it alone with Karara until the shareprice recovers enough and in the meantime, try to fend off any attacks.