Good post Excelsior, you appear to be an proactive investor and nice to hear a view from someone who has met JL. I agree the best solution would be for both camps to get together and thrash out a deal, that may still happen but I think it unlikely after AZX obstructed the GGG ASX listing and some of the rhetoric coming out of AZX towards GGG.
I also can't see the 7 for 5 bid being upped. When I spoke to Jeff I asked if that was possible and he said the current deal gave both GGG and AZX approximately 50% each of B'ling which gave me the 'impression' that this wasn't negotiable.
I hypostasize that it is possible GGG could up the bid and spin off AZX's other 'assets' to a new company for the benefit of ALL AZX shareholders if they needed to but this is just speculation on my behalf. Interesting though that AZX have now suggested something similar, was amused when I heard that as some wag on the ADVFN board suggested that AZX BoD had just 'launched the lifepods'.
Anyway not too long to wait for the outcome. I agree the AZX SP is being held up by the bid which is only natural, but I'd expect it to drop if the bid fails and we are back to an impasse with two unhappy bedfellows. Interestingly GGG's SP dipped after the bid was announced so I don't think the same would necessarily happen to it's SP.
Either way if the bid fails progress at B'ling will stall as I don't think AZX can afford to go to the 4 + rigs GGG wants and they are unlikely to agree on the plan forward. This would be a lose - lose situation for both SH's.
Temu
- Forums
- ASX - By Stock
- AZX
- ownership problems distract investors
ownership problems distract investors , page-3
Featured News
Add AZX (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
CCO
THE CALMER CO INTERNATIONAL LIMITED
Anthony Noble, MD & CEO
Anthony Noble
MD & CEO
Previous Video
Next Video
SPONSORED BY The Market Online