Its been awhile since I have posted anything here. Been on a long trip, got back but got busy with work. Been reading the posts here though.
Just wanted to give my 2 cents on the latest ANN and see what everyone else thinks.
To me, the latest ANN is just a scare tactic (how often do you see Bill and co. issue out an ANN on behalf of LG?). LG must be making a lot of "noise" to Bill and co. in regards to the two other hedgefunds (or potentially a third) buying out SBL shares, forcing Bill to issue that statement on the ASX.
With the ANN, a warning profit is still a profit! With LG murky structure (affiliation with Infinity and potentially with other hedge funds based on some remote island), I am sure LG have ways to fund their takeovers even if they have to bid higher. Also, Macquarie Bank seems to have bought up shares in LG. Macq guys are smart ppl, they wont invest in something that wont make money. Plus LG's SP now is still relatively stable, if not going up slowly.
Having that last ANN on the ASX will hopefully, in Bill and co.'s view, scare away the other two hedgefunds, in anticipation of a higher bid from LG, from buying up SBL shares to the "masking" fact that LG will not be able to offer a higher bid for SBL shares even though it's a profit warning and not a "loss" warning.
SBL Price at posting:
1.5¢ Sentiment: Hold Disclosure: Held
