I guess my concerns that I expressed in the other thread yesterday are being realised....that is is that the "strategic" investor has a strategy to benefit the strategic investor rather than the company and shareholders as a whole
What I think, and I may be wrong is that RL has always just wanted the EMC tech and what a well connected billionaire wants he usually gets and usually at bargain basement prices.
I am getting a sinking feeling that the retailers have all been had......RL has a 10 point plan/strategy to get "his" company (and I believe he no doubt still considers it to be his company) back where it belongs in New York and that he never had any intention to relinquish control of his baby He has no real interest in having his money in the 2 bit ASX .
My guess is that the reason that there is all this secrecy around the strategic investor's name is that the investor is closely aligned with RL and his effective control of the company just increased this morning.
What really galls me about this announcent is the little kick in the guts to state that the placement is at a 4.9% premium to the 3 August closing price. Do they think we are silly after seeing the price manipulated down since the merger announcement quite likely by interests aligned with the strategic investor.
Unless they announce some massive China deals soon I feel that the price will continue to be held down until RL gets his wishes........
I really hope that I am wrong....and I add I would be absolutely delighted to be wrong
and would welcome a large re-rate in the shareprice off the back of this announcement
