FLX 0.00% 17.0¢ felix group holdings ltd

Ann: Felix Resources recommends all-cash offer fr, page-6

  1. 216 Posts.
    re: Ann: Felix Resources recommends all-cash ... Summary of the offer:

    http://longterm.blogspot.com/2009/08/felix-resource-flx-flxax-yanzhou-yzc.html

    .......this is a barely adequate offer. Yanzhou are paying a small premium based on FLX recent closing price and are securing a good 75% plus upside over the next few years. Felix major shareholders are getting the opportunity to sell out together preventing the kind of debacle that happened with Macarthur Coal (where one shareholder sells a blocking stake).

    Importantly the door is wide open for a serious better offer. There is plenty of time for one to materialize which gives FLX shareholders something of a floor. An offer nearer $24, would leave a reasonable 25% upside to the acquirer while paying a more reasonable price to current FLX holders.

 
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