An interesting one. I can't see a super fund wholly owning and managing a drilling co for long. That's more a private equity gig, but they normally target poorly managed assets, buy them, get them humming then on-sell them via a relisting on the ASX to gullible retail shareholders, who often then lose their shirts.
If the super fund successfully buys this, IMO they will likely on-sell it to a bigger drilling co eg. PRN within 12 months. All I can surmise is that they view DDB as very undervalued so they feel they can buy it and then on-sell it and earn an attractive arbitrage profit.
GLTA & DYOR
Ann: Takeover Bid by Australian Meat Industry Super, page-17
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28.0¢ |
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Mkt cap ! $40.08M | |||
| Open | High | Low | Value | Volume |
| 28.0¢ | 28.0¢ | 28.0¢ | $58.8K | 210K |
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| No. | Vol. | Price($) |
|---|---|---|
| 1 | 12295373 | 28.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 28.5¢ | 121356 | 4 |
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