There is going to be no dividend we can all be sure of that.
Having had a chance to think about this on the way to work; (MojoInvest) if I were buying a business in this position I would expect a 13-15% return which is around the $1.8 b mark.
I agree that selling a portion of it might not be a horrible idea. If it were to provide some much needed cash it would be great BUT at a reasonable price. The problem is these articles make it sound as though these assets are worth NO MORE than a $1 b and I believe that is ridicules.
Let’s also not forget that as yesterday’s article clearly said Myer has a vested interest in this. So it is not as simple as getting X return for the purchased assets.
The further I have thought about it though, all the articles say SPECIFICALLY that they have failed to reach a agreement, so I am thinking we shouldn’t jump to conclusions and even if they did, as someone else said, we have all seen how reliable the press is.
CNP Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
