ozl rejects rival offer, page-22

some questions we need to know before jumping to conlusions

By the sounds of it this offer has been put to AM and board on several occasions, not in its same form, but has obviously been firmed up, how long ago did this start?

Didnt I read RFC/RBC saying that they willing to up the offer if it was still 'inferior' to MM deal, cant find the article now, anyone able to help there.

How many other parties have knocked on OZs door to have it slammed shut?

Why did Mr Norris have to contact Robert Gottliebsen to attempt to clarify the "supposed one Aussie bank that wanted out of the syndicates", position, isnt that what AM and board get paid to do?

On the face of it the RBC/RFC offer isnt great, IMO its pretty cheap, very dilutive and raises some A$1.8 billion all up. From my understanding after Martabe sale we owe around $850 million, why would we want to raise this much? so cheaply?

Why cant we just have a rights issue 1 for 2 at say 65-70cents, with a smaller institutional offer, and give more preference to current suffering shareholders. I think it would get filled OK, specially if you could apply for extras from those not taking them up, something similar to the bluescope offer.

Are the prices referred to the RFC/RBC offer in US cents or AUD cents, It seems highly likely that they are AUD cents, but they use US dollars in the amounts, so would be good to clear that up, it would make a considerable difference.


cheers grant

the above is opinion only and written without prejudice