This was inevitable IMO - both HUB and NWL have crazy val'ns and are leveraging their strong positions. PPS is another which no doubt both players will be running the ruler over. Xero would not be interested - Class's TAM too narrow and SMSF's are hard work compared to running a generic GL, just ask MYOB they dumped their conerted attempt after a couple of years of trying.
Question is whether this will tease out a counter-bid before the 11th hour - there is definitely appetite in the M&A arena for solid accretive businesses and there are other active players circling the AU market place.
Either way this is agreat outcome for S/H's potentially on both sides IMO.
CL1 Price at posting:
$2.92 Sentiment: Buy Disclosure: Held
