Steady as she goes.
My great concern for the WBC Pacific purchase, was where were they going to raise the money from?
The trouble with a Capital Raising through Share Issuance, is that the price of any new shares could have been less than $0.80.
So new share holders, would have computed that it is a great deal, as they know who is getting screwed, and that is old shareholders who paid much more for their holding.
Naturally, this is not a concern for Management, who receive enormous salaries.
Ann: Acquisition of Westpac's Pacific Businesses not to proceed, page-5
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