Basically, about 3% or up to 1,000 local companies got taken over by other local companies. Now, some of these takeovers were good for the shareholders, like when BHP took over Western Mining, or when 35 banks merged to become the big four.
But, most of the time, it was just a bunch of mining companies getting bought out by people who wanted to make them look good again so they could trick more people into investing. It's happened before too, like when failed mining companies were made to look like dot-coms in the late 90s, or when failed dot-coms were made to look like miners during the 2003-2007 mining boom, then there was the failed mining companies are being made to look like fintechs, like Decimal Software and Bulletproof Group, and then obviously last year they all changed to lithium explorers!
Also we had foreign companies take over around 200 listed companies, including all of the big Aussie brewers, Optus, BRL Hardy, Alinta, DUET, Rinker, and Westfield.
So your looking at around 3.2%of companies getting taken over in total.
GMN Price at posting:
0.3¢ Sentiment: Hold Disclosure: Not Held
