There were a lot of 14.5c KCN buyers banked up through-the-day yesterday but no seller would hit them..My feeling is that Zurich are coming to the table signalling this morning that they're ready to make a deal..Writing was on the wall for the insurer..Litigation funder would've taken nearly half the $200 million payout, so why not cut out the middleman & deal before the trigger's pulled..They were hoping KCN wouldn't be able to make it through to June..but with both Chile sale & litigation funding-deal options now on the table, the net was closing in on Zurich..plus they're in a Supreme Court hearing against QBE today..Not a good look to be spending so much time & money in the NSW Supreme Court..Looks like we'll get all the facts Monday morning..unless a deal is cut beforehand
KCN Price at posting:
15.0¢ Sentiment: Buy Disclosure: Held
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