Word on the Decline From the Dataroom column this morning Prediction time… If the sales process is such that only two bidders are submitting binding bids in the final round, no one is blowing their brains out on value here. If Regis is the last one standing, we highly doubt there is an equity raise. They don’t need to pay much! And if Ravenswood goes the way of Regis, then Focus’ Laverton almost certainly goes to Genesis, which would be disappointing for Regis because surely they would want to know if they were in with a shot on Laverton before pulling the trigger on Ravenswood. Now what if the black-horse, ‘United Tractors’, interest in Ravenswood isn’t as firm as advertised? What would you do if you were Regis?
Judging by the recent sudden increase in volume, looks like something concrete is forming?
Who would we want to be with? Regis or Genesis?
FML Price at posting:
23.5¢ Sentiment: Buy Disclosure: Held
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