who might do the takeover? JST has been mooted as a possible take over target by the financial press. Now I was looking at this acquisition by Solly Lew ... apparently he bought $4 million worth at an average of $2.10. Quiet a high price wouldn't you say. A source close to Lew has said that the share might have been purchased because either he wants to get a seat at the table or the shares are good value. The earnings per share are only growing at 4% and the company has debt of around 200% and the PE is around 12. Could this be a value play? I doubt it. I prefer the former - a seat at the table - explanation. Now question - WHO MIGHT DO THE TAKEOVER? Solly must know something. He owns 6% of Coles Myer.
IMHO I think a takeover bid may come from Coles. What do you think?
JST
just group limited
anyone following, page-10
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