new bid chatter, page-19

Unwooded, there's strength in numbers and when its backed by the assets and cash flows of the bidding parties concerned, this then provides for SIGNIFICANT leverage in a BOOMING MINING,AND INFRASTRUCTURE SECTOR that an enlarged CARLYLE GROUP,ACE P/L & ELPH P/L (and any other associates)can bring to the table!

The takeover of COA is not a matter of if but when! and its better done soooner rather than later or all concerned

Concessions need to be made on both sides of the fence, but clearly, NOT having advised stakeholders why the cum $6.40 was inadequate and further not explaining how the COA board and mgmt are going to make up for the shortfall and more!, puts the pressure squarely BACK on the current COA incumbants to DELIVER, when they should be at this stage of the cycle more concerned for once and for all on finally delivering eps growth some time this century and repaying those stakeholders who have in the past(and thank God i'm not one of them!) ticked off on their remuneration packages

Having reduced 6 business divisions to 4,disappointing earnings and a failure to meet their forecasts, in my humble opinion the COA board and mgmt would be wise and even more wiser to recommend any bid NORTH of cum $6.40

In reality,the price isn't an option for the bidders but the bidders must work within their financial modelling constraints of PE'S ,EBIT ,EBITDA and multiples as per normal M & A activity,the COA board know this and are hanging out for an unrealistic BID/DEAL in return for handing over the keys for a monoplistic leading 20 per cent market share in the equipment hire and mining industry