After yesterday's shocker of an article from 'theAge', it's nice to see that a positive one finally came out.
Fortunately it was from a more widely read and respected source: The Australian.
Jimcross first brought it to our attention early this morning on the PLT forum (a copy of his post is included below). Whilst it appeared in the 'City Beat' column in the regular business section of the paper, an Web page version of it can also be be found via the following link: http://www.theaustralian.news.com.au/business/story/0,28124,25361834-5016575,00.html
(see the 3rd section down)
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(from Jimcross)
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Fellow FERPLT-ers,
Good morning. Here is part of an article from The Australian.
CITY BEAT: Rebecca Urban | April 21, 2009
Biotech match made in heaven
IT seems like only yesterday that Polartechnics was making headlines for its nasty boardroom stoushes rather that its pioneering medical technology.
Now it seems the little biotech, which counts Trevor Kennedy and Lawrence Freedman as major shareholders, has gone and grown up, even lobbing an off-market takeover bid for another listed technology venture, Fermiscan Holdings.
Fermiscan is planning to appoint an independent expert to pass an opinion on the merits of the $60 million merger proposal, but for what it's worth City Beat reckons it's a match made in heaven.
As one source close to the deal explained, the rationale of merging two women's health companies -- one with a screening device for breast cancer, and the other with tests for cervical cancer: "It combines both the north and southern hemispheres".
Good luck to the beancounters calculating the synergies on that one.
Patching up the pump
HERE'S a tip for the administrators still picking through the wreckage of collapsed heart pump manufacturer Ventracor.
A list of Polartechnics' largest shareholders reveals that Ventracor Investments owns 2.7 million shares in the company.
Perhaps it's a hangover from the days Colin Sutton, a former chief executive of Ventracor, was also chairman of Polartechnics before resigning in March 2005. Based on the latest Polartechnics' price the stake is worth $351,000.
