Tonights substantial holding notices confirm that a takeover is in play for GNS.
As usual plan of attack for any raider is to use more than one broker to acquire stock to hide such a play is being made by using multiple brokers...
Done very cleverly via use of Morgan Stanley and Deutsche Bank...some points to note are:
1. Deutsche started acquiring shares from 27 January, Morgan Stanley from 1 Feb.... 2. As per the notices b/w these 2 notices they represent 12.90% of total Gunns shares....but that only represents shares acquired by Morgan Stanley up to 28 May and for Deutsche up to 26 May... Note the clever buy & sell capping on 26/5 by Deutsche with big parcel of 9m then added at end of day...
So based on 20% rule, we should expect to see an announcement of a takeover offer/approach being made any day...
GNS Price at posting:
43.0¢ Sentiment: Buy Disclosure: Held
