if Regis were to sell their stake in Tropicana, would they be able to recoup their investment of 900 million ? It gets depleted over time.
IMHO a TO is unlikely as Andrew Forrest attempted but failed to get a substantial stake (15%) in the market a year ago which an indication that shares are tightly held, not much free float. We all know he’s super cash rich ( or was ?) , if he couldn’t get 15%, I don’t see how anyone else can get at least 30% for a meaningful takeover. I am not sure, is it 51% that you need for a TO?
Ann: Quarterly Activities Report, page-52
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