Seems they won't, because if they wanted to, they surely would have by now? Unless it is being kept for the end of negotiation period, 'if you get no compelling offers' type of situation. Which would be oddly passive from Simon's end - he either believes it a good strategy, or doesn't surely. So why wait?
I can't imagine there are any legit deals on the table right now for FFX. Any suppression of the LLL shareprice came off about 3 and half weeks ago. Anyone in with a serious chance of buying FFX would definitely be holding it down as much as they can. I think it likely whoever wanted it switched their strategy to buying on market from about 50 cents - resulting in the price being pushed up over the last month.
Interesting in that the registry of FFX is reportedly fairly evenly divided. The instos likely want out, and are probably pushing the BOD to get that done, a lot of retail want to retain their LLL shares. Can either side exercise enough control to push their agenda if the result of the process is not to their liking? Hopefully the instos starting to see the value of just retaining until end of escrow given the outlook so good for LLL.
In anycase I think with the SP rising over the last month the odds of a distribution are rising with the LLL shareprice. Find out in less than 4 weeks now.
FFX Price at posting:
20.0¢ Sentiment: None Disclosure: Held
