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20/11/11
18:33
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Here's a Crikey page: follow the link to the statement of claim in the BPG bullying case- it isn't pretty, but worth a read for holders:
http://www.crikey.com.au/2011/08/22/tips-and-rumours-524/
I think this case is standing in the way of PBG moving forward.
PBG have also been downgraded by Deutsche, with a price target of 60c, which is higher than its current SP. They are suggesting a "hold".
PBG got a "Strike 1" with votes against remuneration of 51%.
However, private equity has, according to the AFR, an interest in buying out PBG if the SP is under 60c. Still, an ugly court case to come.
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