"GPT regained some investor support last week as traders partly reversed their recent sell-off of the diversified property trust. The group has been hit after it unveiled about $1.4 billion in property writedowns.
But it has recovered as investors re-assessed the chances of rival group Stockland making a further move on GPT.
Stockland has a 12% stake in GPT and investors believe there could be further news after GPT's full year results this week (27th Feb, I believe).
Investors expect an update on GPT's sale of $2.5 billion in non core assets".
So are we to assume, these cross trades is instos buying on behalf of Stockland (taking a larger position)
When can a takeover bid be made by Stockland, when they have a 20% stake ???
GPT Price at posting:
45.6¢ Sentiment: Buy Disclosure: Held
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