Unfortunately its a case of 'times change' lldsrud. Peabody had a few stabs at taking over Macarthur Coal; they finally got what they wanted with a bid that was close to the one that was originally turned down. CAP has a smaller cash balance now as well so the enterprise value of the company will be higher now at 50c than it would have been in 2010 at the same price. Iron prices have dropped which removes the board's bargaining power somewhat, even though Hawsons is well and truly profitable if spot iron kept at these prices. I'm certainly not advocating a lowball offer because if CAP was left alone to do their thing then it would be a success story in the long term; I've no doubt about that. It's just that ASI/Conglin are the ones with the big dollars to spend and they will buy their way into ownership if that is what they want. You or the next person might not accept a takeover but a fair few would be happy to if they woke up and saw the stock was being bought for 80%+ above the previous night's close.
- Forums
- ASX - By Stock
- CAP
- Ann: Chairman's presentation to the AGM
Ann: Chairman's presentation to the AGM , page-9
-
-
- There are more pages in this discussion • 11 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add CAP (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
I88
INFINI RESOURCES LIMITED
Charles Armstrong, CEO & Managing Director
Charles Armstrong
CEO & Managing Director
SPONSORED BY The Market Online