What is annoying me, boomer, is journalistic hearsay such as "Scheme of Implementation expected next week" (didn't happen), and as the Chair quotes, "Brookfield remains on track to buy the Australian listed energy company for $15bn with EIG, as the pair put the finishing touches on the transaction - The Australian: Data Room, yesterday" as late as yesterday.
Just when will this transaction be finalised, and what the hell are "finishing touches". Sounds like procrastination to me. When it doesn't happen as predicted, it may put the market on edge.
IMO, this type of information is price sensitive. If investors perceive this to be authoritative, and act on it, they might be disappointed.
The market does not appear to believe this transaction to be imminent, as it has dropped to $7.82, which should now make it a screaming "buy". A buy now should give investors a certain 11.7% return on their investment, and perhaps in only a few months.
But it would appear that sellers still believe that they can do better elsewhere, as yours truly did when it was $8.35, or they sense failure of the deal, with SP pulling back to something like your predicted $7.00.
These types of journalistic statements, if proved to be unfounded, may well fuel more uncertainty, IMO. Why the holdup?
What is annoying me, boomer, is journalistic hearsay such as...
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Last
$10.86 |
Change
0.005(0.05%) |
Mkt cap ! $18.69B | |||
| Open | High | Low | Value | Volume |
| $10.91 | $10.92 | $10.85 | $2.583M | 237.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 411 | $10.85 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $10.86 | 5864 | 13 |
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| Last trade - 10.33am 04/07/2024 (20 minute delay) ? |
| ORG (ASX) Chart |