More Media Takeover Speculation, page-87

What I’m not liking much is that since media reports emerged that the guidance revision coupled with required USN clearance for any major transaction meant that bidders were in retreat, the SP has consistently slid. As the counter to my comment above about a stealth attack, I think we also have to consider that instead of accumulation what we are presently seeing it could instead be slow methodical selldowns by the nominees who had been stockpiling on the basis that a takeover bid was imminent. If that is off the cards or on hold, they’ll be reducing in a way not to tank things too fast.

Austal has effectively remained silent all along on the prospect of a takeover bid (it hasn’t received one so understandably it can’t comment). This continuous SP slide over the past month is however becoming very unattractive!