De-listing is a bull s**t threat from management of CIMIC, other have tried this tactic and failed to force shareholders to sell. A recent classic was CIC a Canberra property developer. The bidder finished up with around 80% when the offer eventually closed. CIC stayed listed the bidder came back 12 months later with a higher bid including a substantial franked dividend. . There is no benefit of having disgruntled minority shareholders. CIMIC need to quickly come up with an offer that will see 100% of shares acquired.
CIMIC need to pay up and take over DVN at a reasonable price or sell. DVN is already taking us excessive management time and it will take up a lot more with no result. CIMIC let the management of DVN run DVN ' into the ground' at the same time letting management take higher and higher salaries and benefits.
In the end CIMIC need to deal with Brazil and accept they need to pay 0.90c / share - that will happen!
DVN Price at posting:
78.5¢ Sentiment: Buy Disclosure: Held
