A long wait for UBS too ... at around 20 years!
Over 20 years CTX has consistently determined that this wasn’t a good thing for their long term future. Even when they were teetering on the edge of going under. So what’s different this time?
- New CFO wanting to make a name for himself is putty in the hands of investment bankers? Note, UBS Warburg originally tried ~20years ago with the previous CFO Hepworth was a newbie in the Treasury role.
- A CEO that’s leaving and wants a short term SP sugar rush to exit his holding?
- CTX is now more desperate for funds for it’s expansion plans?
- CTX executives want to protect their jobs so will create an REIT at the expense of shareholders to block the bids? (See AFR today)
- Or ... that it really is a good time for create an REIT given the demand (as evidenced by the Puma REIT trading well above asset valuation).
My betting is all of these, the last one creating a decent marketing angle as cover for the real reasons.
IMO - this will create some short term trading opportunities, but in the long run CTX will struggle to survive.
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A long wait for UBS too ... at around 20 years!Over 20 years CTX...
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