re: packer in ecorp clean-up, afr article Part of an article from the AFR higlighting what I believe to be the important considerations in this takeover.
Packer offer pushes ecorp to year high
Dec 12
Katrina Nicholas
The plan surprised few analysts, most of whom agreed that it made good sense and represented a fair deal for minority shareholders.
Merrill Lynch analyst Patrick Russel said: "We are forecasting ecorp to make an EBIT [earnings before interest and tax] loss of $1.1 million next financial year, turning to a profit of $500,000 in 2005. Therefore the impact on minorities is likely to be largely immaterial."
Macquarie Equities analyst Alex Pollak also said the proposal represented a good deal for minority shareholders "as ecorp has not traded above 50¢ since November last year".
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re: packer in ecorp clean-up, afr article Part of an article...
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