merril lynch buys into paladin energy, page-15

Rumours and speculation abound re possible takeovers for Paladin, with the most talked-about being Areva or Cameco. But - a wild card in the scenario would be if the China Investment Corp, an enormous sovereign wealth fund (or Huge Mega Money, HMM, as Dines calls it)were to try and bid for Paladin.

As a long time PDN holder, I'de be quite happy to see a bidding war break out between Areva, Cameco, and China...! :)

And yes, you're right - anything above 5% holding must be notified as a substantial shareholding, and anything above 19.9% invokes a compulsory takeover offer. Interestingly, none of these eventuated from either Merrils, ANZ, Lift Capital, or Opes themselves even though they apparently held all the titles to the shares......

It will be interesting indeed if the Victorian Court decides that Merrils and ANZ did NOT have the rights to sell all those shares over the last couple of weeks, and that they have to buy them all back and return them to the original shareholders. No prizes for guessing what the market would do to those share prices..... :)