gi,discussing ALL the possibilities as to why mm&e and ubs have...

gi,

discussing ALL the possibilities as to why mm&e and ubs have bought sapex shares could quite easily get very long winded so it's best not to think too much about it.

this is mm&e's "mission statement".

MM&E Capital Pty Limited is an Australian based event-driven hedge fund manager that was founded in 2001 by John McIntosh, John Magowan and Tom Elliott. It aims to provide professional investors with absolute positive returns in all market conditions and with lower than average volatility. This it achieves by focusing on corporate events including takeovers, demergers, preference share conversions, capital raisings and sell downs. Hedging is used on a transactional basis to eliminate as much market risk (beta) as possible.

ubs are probably using a similar investment strategy and they would be silly not to.

cheers