I agree - first class name. I though it worthwhile to share a...

I agree - first class name.

I though it worthwhile to share a few more thoughts about the CR - it's difficult to understate how significant Moelis's presence in this transaction really is. Genuinely with no disrespect to Fosters and Hunter Capital but this is a substantial step-up in credibility for the company. Not solely because of this institution's reputation and image but, inter alia, who its clients are (see above). If you ignore the usual accusations that an investment banker will sell his mother for a fee, this is a seriously well-connected Wall St. firm and signifies an important positive change in the profile of the company given the exposure it now has and will continue to receive as a result. The guys should be congratulated for either getting their attention or accepting and developing any introduction or approach that was made. There has been some talk on here of a previous approach either by the firm or its clients, but either way, if you forgive the analogy, it seems they are now p1ssing with the big boys.

A little trivia on Moelis - the head of IB for the firm in Sydney is Andrew Pridham, a veteran of JP Morgan and UBS; names that might provoke certain unpleasant feelings in some of you, but the point is, these are serious people... It's also a name you might also recognise as Chairman of the Sydney Swans... and if I haven't alienated all of the Victorians on here, along with followers of the Giants, Port, Crows, Dockers, Eagles, Lions etc.. with that piece of information then I'm not doing too badly...

... and just to conclude, and I hope I'm not going to jinx the next few days, just look at the price - apart from the usual nonsense in the auction, no big sell-off on a near 15mil day - pretty strong result in my book.