For anyone who missed this yesterday in The Aus...
Austal earnings downgrade scares off potential buyers
It looks like a buyout by Twiggy is now the only option remaining as other contenders have reportedly pulled back, armed as they will be with all the confidential detail from inside the dataroom. Special round of applause for the Austal idiots who priced the T-ATS contract.
Two points that stood out to me was that the article is wrong on the size of Tattarang’s stake - it is above 19% after the last filing, so right at the threshold. So watch for him trying to hold VWAP down here in the event he tries a lowball bid.
Also this:
”The US business is far larger and more attractive, but it has strict security restrictions, including a rule that no one from the parent company can attend sites without permission from the Pentagon.”.
Imagine that! John Rothwell and Paddy Gregg need Pentagon permission to visit their own company’s shipyard!
For anyone who missed this yesterday in The Aus...Austal...
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$2.17 |
Change
-0.070(3.13%) |
Mkt cap ! $786.6M | |||
| Open | High | Low | Value | Volume |
| $2.20 | $2.25 | $2.15 | $1.564M | 715.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2286 | $2.17 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.20 | 15692 | 3 |
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