It is funny how with takeover rumors swirling around ASX companies and Australian based companies, TWR takes out the prize with a 40% premium and no rumors whatsoever apart from the Allianz/ QBE press articles from FXJ. Fairfax Financial takes over Tower with a 40% premium which was not even seen and not close to the obvious rumor carried by the FXJ half of the Australian press/ European press that Allianz was taking over QBE.
I mean some of the speculative stuff on the blogs goes on for afters: Yili/ JD for A2M, ASX's Fairfax is being TO bid by a PEG, KKR for Woolworths, Bechtel for LLC, SUN for NHF, QBE itself for IAG, Total for STO, COP/ EIG for SXY, US Steel for BSL, Babcock International for Downer, Cameco for ERA, Cameco for PDN/ SMM, Henderson Group for PTM, BTT for PAC, Kinder Morgan for APA, Randgold for SBM, Bayer/ BTG/ Merck for Sirtex, Ladbrokes for TAH, MGM Resorts for SGR, Compass for GEM, SGX 4 ASX (that has already been rejected by Gov't), GLEN for BHP, AngloAmerican for LOM, there are a few I have missed for sure. There r just too many IMHO but pls DYOR.
When nearly 70 or so companies on the ASX r rumored for sale, a kiwi company gets a TO bid by a Canadian while the ASX earnings season misses expectations IMHO but pls DYOR.
TWR Price at posting:
$1.06 Sentiment: None Disclosure: Not Held
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