AIO 0.00% $9.13 asciano limited

Really hate the intimidation now being shown by Brookfield to...

  1. zog
    2,964 Posts.
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    Really hate the intimidation now being shown by Brookfield to "encourage" SH to accept their bid without being sure that they will be taken up or  better price coming from an auction between Brookfield and Qube.  I notice that the Asciano independent expert (pg 68 of AIO target statement - 11/12/15) recommends

    "it would be prudent for Asciano shareholders to wait until these matters are resolved or clarified before making a final decision in relation to the Brookfield Offer"

    and that the ASA (Australian Shareholders Association) are saying
    "We have had a number of members phone the office for information about Asciano.
    Brookfield - A consortium led by Brookfield has made a takeover offer for Asciano shares. The original Brookfield scheme of arrangement remains on foot, but the scheme meeting has been deferred to a date to be determined.
    The Brookfield takeover offer is currently scheduled to close on 29 January 2016, but we would expect the closing date will be extended until ACCC's position is released.
    Qube - A consortium led by Qube is also looking to make a competing offer. We understand Qube is still doing due diligence, so no formal offer has been made.
    ACCC approval is required for the Brookfield and Qube proposals. A decision is expected from ACCC on or about 18 February 2016."
    I will be waiting until after the 18 Feb and hopefully an auction between the bidders or at least an all cash offer (I'm not keen on holding Brookfield units - it's a Bermuda based organization with third party management (see the example of third party's managed by Babcock and Brown etc)
 
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