retirement indust - two horse race, page-10

Thanks Major...I have been following Elliott's theories in the Eureka report.

I suspect he sees GPT as a more desirable target for SGP but they are doing their best to ward SGP off.

SGP hasn't yet declared its hand totally for FKP; and AVE is a minnow by comparison.

I still contend that the FKP retirement assets are a target...if not THE target...but SGP just cannot see an easy way of prying it free at an acceptable dollar value.

On the basis of the magician's "sleight of hand" tactic and Gail Kelly's "St George" manoeuvre...watch that choice which isn't highlighted or spoken about.

Currently SGP are making louder noises about GPT...and not saying anything about FKP.

But, right now the game is to watch how LLC go in "stealing" LLP...and that's what it is at the price they have offered...stealing!

Their offer fails to recognise the premium associated with the development pipeline.

PLUS the LLP fiasco really highlights the case for having strong independent directors. The so called independent directos of LLP have just "rolled over" and supported the LLC offer without even waiting for their independent advisors report. Just plain disgraceful!

BTW, Major, do you have anything on the other role which Darryl G might be doing and is this a pointer to the future?