mccabe to takeover yes no, page-3

This link is about Scarbourgh International:

http://www.sheffieldtelegraph.co.uk/business/Scarborough-Group--posts-47m.4764259.jp?articlepage=1


During the sale of Scarborough Developments to Valad back in 2007, McCabe pocketted GBP150m. Some of this was withheld & some was via shares in Valad.


McCabe has recently (15/01/2009) sold a heap of townhouses in China, reaping GBP132.1m (not sure how much of this is profit).

http://property-week-uat.internalhosting.com/story.asp?sectioncode=297&storycode=3131608


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Here is an article about the UK's Property "Rich List":

http://www.scarborougheveningnews.co.uk/news/Property-bosses-on-rich-list.4625511.jp

Not sure if his ranking had been affected by property values. But he was recently worth GBP200m (AUD400m). At (say) 30c per share, that's enough cash to buy 1.3 billion shares (83% of Valad) + plus his current holding (which I think is 3%).

I think he has the cash - directly (or through Scarborough International). Scarborough International appears keen to make acquisitions.

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DYOR - As I do not understand anything about trading