More than 10% of the stock changed hands in narrow trade on Friday, so it wasn't just short covering. Lets idly speculate about who would want that many shares in such a high risk bet....
They have to have deep pockets because the problem with the stock is confidence, so an MBO wouldn't address that issue imo.
Can't be MQG because too much of the company's value is the intangibles associated with the people and it would be perceived as hostile bid preceded by an organised short raid and the most valuable assets would walk out the door.
A domestic bank perhaps seeking to get into higher growth investment banking? Or an overseas institution trying to get a foothold in Asia with an institution not tainted by subprime? Or perhpas a lender protecting their interests by taking a stake?
...and do they just want a stake, or is it a takeover/merger? With the volume over the last few days the stock can't be as tightly held by staff anymore.
Maybe MaCrae12 has deeper pockets than we realise LOL.
BNB
babcock & brown limited
More than 10% of the stock changed hands in narrow trade on...
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