It was trading around 3.90 before the release.
A $0.50 drop times 1840million shares equates to a drop of $920 Million.
Basically the market is assuming that this acquisition just incinerated nearly 1 billion worth of value.
I think the play here is to buy, and wait for the demerger, where the demerged business should be worth around near $1 billion. AND the share price will go back up as that "dirty east coast coal" is now out of the mix.
It's a win win situation if you are patient.
Ann: Agreement for acquisition of One Rail Australia, page-123
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Last
$3.50 |
Change
-0.040(1.13%) |
Mkt cap ! $6.442B | |||
| Open | High | Low | Value | Volume |
| $3.54 | $3.55 | $3.49 | $22.05M | 6.285M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 45108 | $3.49 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.52 | 56611 | 6 |
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| Last trade - 16.10pm 18/10/2024 (20 minute delay) ? |
| AZJ (ASX) Chart |