lack of confidence, page-5

In case you haven't noticed, M&A activities in this sector recently have been hotting up when the POG was still bullish looking , SLR for IGR, FML for CRS. There are a few others that escapes my memory, TRY, Norton etc. With such a low POG, I reckon the predators are preserving cash just in case they become victims of their own growth chasing like the current examples.

Looking at other sectors, M&A activity hotting up too in the food manufacturing/spirits sectors in addition to a rapid ipos by Private Equities ie Spotless, Genworth etc, I am thinking this is a classic early indications of a market peaks.

Good luck hoping for a TO event but anything is possible I suppose.