Below is a snippet from an article I read from The Australian 28/09/17, could be part of the reason for the recent surge. Does anyone have any more information about this?
"One school of thought is that CIMIC remains in a position where any further acquisitions in the Australian mining services and engineering space will be challenging because they would probably face objections from the Australian Competition & Consumer Commission.
However, another is that it may have its eye on the newly restructured Emeco, which was rescued from the ashes through a three-way merger.
The company is a provider of equipment in the mining space and some question whether it could be a step in the right direction towards building its Fleetco business.
CIMIC has looked at Emeco before but passed on the opportunity for an acquisition, but that was when the market was awash with mining equipment. Now the market has turned around and Emeco’s share price has increased from about 8c to about 20c in the past six months as the value of its equipment lifts."
Thanks
Hugh
EHL Price at posting:
23.5¢ Sentiment: None Disclosure: Held
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