After some further research into centaurus, I'm hoping to hear a public announcement soon from Centaurus stating their dissatisfaction with the offer.
Hedgetracker.com summarises Centaurus as a "deep value investor" and from their listed articles they appear to be very active in the companies they've bought into, eg:-
"Centaurus Capital aims its sights on Demag February 23rd, 2011 | More Last October, Konecranes (KCR1V), the largest industrial crane maker, displayed interest in merging with Demag Cranes (D9C), the industry’s second-largest player. According to the Financial Times, the possibility of a merger pushed Demag's share price up. However, Demag surprised shareholders by refuting the offer.
In response, Centaurus Capital, a UK-based shareholder activist hedge fund firm that owns more than 5% of Demag, has demanded that the company establish a committee to evaluate the possible merger.
Several months ago, Centaurus Capital, which focuses its activist investments in Europe, was an influential backer of Spain-based Actividades de Construccion y Servicios SA (ACS)’s takeover of Hochtief several months ago. Centaurus Capital was founded in 2000 and is led by its Chairman Bernard Oppetit and Chief Investment Officer Randel Howard Freeman. "
That Demag merger never went through, however the Demag share price since then doubled and was then later merged with Terex for an increased premium.
It may be a long bow to draw that Centaurus assisted with this outcome but clearly as a shareholder activist hedge fund they do involve themselves closely in companies in which they see value. The question is which company, SBL or LG. I'm banking its SBL.
SBL Price at posting:
1.5¢ Sentiment: Hold Disclosure: Held
