MJH stated a little while back on AFR they were not looking to venture into Vic via way of merger with Simonds and would be seeking expansion under their existing brand.
MJH was also denied a seat on the board, this all being said any taker over by the Simonds family will be requiring a hefty premium to justify MJH accepting. One would assume capital raised by MJH selling to the family would then be used to expand their business in Victoria.
its a double edge sword for Simonds family, grow the business and the value increases but so does their direct competitors capital, takeover at a premium so MJH accepts the deal and assist your direct competitor in getting started in Vic.
Either way, a strong Simonds will lead to independent shareholders gaining.
SIO Price at posting:
53.0¢ Sentiment: Buy Disclosure: Held
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