Target Statement makes a very good read. Aussie shareholders should be aware that CGT roll-over relief is not guaranteed if GGG gets less than 80% of the scrip. As Auzex have represented that the directors (12.2%) intend to reject the offer and Baker Steel(9.3%) intend to reject then CGT roll-over relief is off the table for shareholders and we should demand a further premium to make up for the tax leakage.
On the other side of the table - why have the instos and other cornerstone investors not put in a counter offer given the Independent valuer stating that the GGG bid is so (40%) inadequate.
I want the cgt relief and management team /board that has credible institutional/ cornerstone support. Someone bring on a counter offer and end this saga.
AZX Price at posting:
64.2¢ Sentiment: Hold Disclosure: Held
