Side note; I don't expect WPL to buy into FAR however a significant stake would not be difficult. Look at Hony & ENN group with Santos. They tapped a few firms on the shoulder, said they had a few hundred million to spend... Next day increase in substantial holding - institutions off loaded.
I would be sceptical of FAR having a backer for their bid per say. This could actually get FAR into some serious legal issues. If you look at Bradken's original take over in 2012. It was turned over in the high court, short story PE bidded for Bradken. Offer was accepted, an hour later sold to their rival for a couple percent more. They got fined for bid rigging. (Can't believe I remember that case from uni!)
Ann: FAR files for arbitration, page-49
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Last
51.0¢ |
Change
0.025(5.15%) |
Mkt cap ! $46.66M | |||
| Open | High | Low | Value | Volume |
| 49.0¢ | 51.5¢ | 49.0¢ | $148.9K | 293.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1610 | 50.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 51.0¢ | 3100 | 1 |
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| Last trade - 14.13pm 08/10/2024 (20 minute delay) ? |
| FAR (ASX) Chart |