We are now in the year of the Dragon. MES has softened up shareholder resistance to the privatisation with talk of falling market conditions juxtaposed with an aggressive expansion in capacity of higher unit value output. A revised privatisation offer timed to coincide with the payment of a dividend in March would save some administrative expense for a privatisation process which is supposedly limited only by financing arrangements.
Monetary easing in China to coincide with the Water Dragon year (one in 60) would seem to be the last essential ingredient to proceed with the privatisation before an audit of the company's financial position demonstrates that the management has cleverly undervalued the present and future worth of the enterprise.
We are now in the year of the Dragon. MES has softened up...
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