Pact recent news, page-239

BEWARE How does Newscorp. know this? It’s not been published on either the ASX platform or Pact's website. Unless this is just press speculation it’s very bad that RG has apparently told the press but no one else. However, the headline of the articleis different from the first sentence “Billionaire Raphael Geminder’sattempt to complete a $234m off-market buyout of packaging company Pact is set to fail, despite 13extensions of his offer.The headline said “fails” which is used as fact, whereas “set to fail” is just opinion, a guess. This may be just a misleading headline. Even though the market closed at 4pm, Bennamon could still receive acceptances by fax or courier until 7pm. Given this, it’s possible at least in theory that RG could have received some large acceptances at 659pm which Bennamon and Link would then spend some time to collate. Such acceptances might (again in theory) be enough to get him over 90%. I don’t see how the Australian could announce the bid’s failure at 748pm, even if most of the article had been written earlier today. Icertainly hope that they are right but I would treat this headline as speculationnot fact.

Disclosure- I bought 15K today.