rob, they also bought dynonobel for 3 billion, explosives manufacturere, serves mining etc, raised 900 mill whent he sp was 4.00 discount to 2.50, hence the floor in sp.
one could say the fall from 10.00 to 4.00 was in line with the fall of fertilers prices, but probably more coincidental, and sold off with that, as the market crashed.
That being said, 4.00 looked ok, and then the raising....
So IMO, we have upside back to 4.00 on current feriliser and explosives business upside.
Would want to see the revised earnings forcasts, comsec have them reduced to around 50cps earnings 2009-2010.
As a blue chip, have to favour them being tipped for super funds, and upside to rally this year.
2 bucks anything is good entry IMO
cheers
rob, they also bought dynonobel for 3 billion, explosives...
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