AGM said that ANZ had confirmed it was a "short to medium term" holder of BUL.
That 30%+ of the company is held by an obviously willing seller for anything above market should logically make it a better target.
I cannot see the receivers of Primebroker/ ANZ wanting to risk an action that might be initiated if they spurned an offer pitched at a level above, even by a bit, the value presently ascribed to the stock by the market.
Not keen for any action apart from ANZ offloading to a longer term investor. No takeovers please, just BUL proving some good reserves and the rest will take care of itself.
BUL Price at posting:
21.0¢ Sentiment: Buy Disclosure: Held
