So it was our "friends" from South Africa and UK who have stuffed up another Australian company. They are also pretty good at it given how cheaply MIM was acquired by Xstrata after a campaign of misinformation of shareholders (their CEO's attempt to stop the takeover were over-ridden by the fears spread). Add to that the crazy merger of BHP with Billiton with Billiton shareholders acquiring 42% of the merged entity. Billiton mainly added a lot of crappy assets, many of which are in South Africa with its high risks, and their component of BHP now represents around 22% of current profits.
I wonder to whom LN is planning to sell PRH's assets. Perhaps there is a link to that deal with some other overseas parties, who just used them as a front.
It looks like PRH management should not be allowed out of their premises without a chaperon otherwise they are liable to sign any bit of paper put in front of them.
Good luck.
I still hope the merger can proceed on the former terms.
loki
PRH Price at posting:
1.1¢ Sentiment: None Disclosure: Not Held
