centro finalises property groups merger , page-13

With American Assets Gone, and a wasted 23cents p/s equity in Superllc,(which by the way would probably be worth 30cents p/s today), i doubt very much CER will ever get even close to a buck a share.(unless consolidation happens,which probably will with the amalgamation happening)

CER'S share in the amalgamation would be around 40%,($1.6bil), Hedge funds (CNP Share) would be around 50%($2bil), and other funds would be around 10%($400mil). In Total the amalgamated new Centro with around $4bil in assets.

The fact is that CNP's Share(Hedge Funds) owns half of CER's Share means that by default they would own that 20% of CER's holding translating it to a 70% ownership in the new entity. This however, will not,and should not, dilute ordinary CER share holders of their ownership in the new entity.

If anything, it will be that 20% (CER 51%),that should be wrestled over in the vote for the new centro.(Hopefully the directors see it in the same light, and don't get bullied into a scheme or MA, and lean towards the hedge funds wishes). Lets also hope that the new buyers of CER shares(York and Marathon) are not secretly working for the Banker hedge Funds trying to buy themsleves an own vote.