State of play getting very interesting.
Firstly we have Downer EDI with a market cap of ABOUT $2B and low debt.
Secondly we have UGL with a market cap of just over $1B and about to become flush with funds.
Thirdly we have TSE market cap just under $1B and debt of $750M .SP up 100% since January.
UGL & TSE now have a common major shareholder in Allan Gray who are actively increasing their holdings.
UGL have issued a statement that there is no place in the Australian market for small players.
Any body out there with an idea as to what Allan Gray's thinking might be in becoming the major share holder in the number 2&3 plays in the same field and what will be the end result. Obviously it is about profit but how.
UGL Price at posting:
$6.26 Sentiment: Buy Disclosure: Held
