An interesting announcement was made yesterday by Tower ltd which was as follows.
"Tower Limited – Trading Halt
Tower Limited (“Tower”) has requested a trading halt as it has been advised that Bain Capital (which owns or controls approximately 19.9% of the shares in Tower), is undertaking a process to seek offers of demand for its shareholding in Tower.
Tower’s trading halt application will be made available on NZX and ASX.
The trading halt will be lifted at such time that Tower has been notified by Bain Capital that the process has been concluded and the same has been announced to the market by Tower."
Now does that indicate that Bain Capital is seeking more ready cash to be able to bid strongly for IFL ????? Alley-oop
IFL Price at posting:
$4.20 Sentiment: Buy Disclosure: Held
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