It fascinates me that the Takeover offer is at such a premium to the trading price. As is the case for all Takeovers to be accepted.... but it is a hefty premium for Shareholders.
So, Long Term Asset Partners is offering $10.42 and obviously believe the Company is worth more than that (which is their own component of profit). Will be watching the outcome of this with interest, even after the Takeover, if it is successful, to see what is done with the assets.
I've been a long term holder of Graincorp, and tend to agree that it was best to knock back the last foreign takeover offer.... we have lost so many Aussie food Companies to foreign interests, it is good to keep some food interests in Australian hands. Mind you, who knows what will happen if this takeover suceeds, a carve-up is probably on the cards to maximise profit to the highest bidders anyway.
I'm just enjoying for the moment seeing a 9 in front of our Share Price.
GLTH
GNC Price at posting:
$9.25 Sentiment: Hold Disclosure: Held
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