Is Red 5 in range? AFR reported last night Euroz was doing a $138 (?) block trade that would bring cash there to around $600m (?) and that it is looking for more acquisitions.
https://www.afr. com/street-talk/red5-launches-138m-block-trade-euroz-hartleys-on-ticket-20240807-p5k0g8
…. “It’s not your vanilla after-market block trade.
Sources say the shares being sold by Euroz belong to the pre-bid stake that Silver Lake built in Red 5 before the two camps agreed to a scrip merger in February.
Usually, companies in a similar situation prefer to cancel these share once the merger comes into effect,
But Red 5 has chosen a rarer path, choosing to sell them via Euroz to boost its own $453.7 million cash and bullion balance sheet.
Fund managers know Red 5 has made no secret of its M&A ambitions beyond the Silver Lake deal….”
cheers
(20min delay)