1. I would say very good, based on what is now a substantially...

1. I would say very good, based on what is now a substantially increased institutional participation. Institutions run over all the numbers and expected outcomes in more detail than most investors.
2. This large sale by MND has effectively put a new (higher) floor at $1.10.
3. Perpetual have grabbed about 6.6% of Monadelphous's 14%. There could be further substantial shareholder notices by Friday after the close to account for the remaining 7+% of the MND stake sold. I suspect this will also show other institutional interests. This is all very positive, as Norfolk gains better exposure to the institutions, which is something that has been (light) lacking in NFK's shareholding register.
4. With MND exiting this now removes any speculation as to what they might do. MND's exit seemed to be a straight forward decision and a logical one.
5. NFK is rated A1 (highest rating) by Roger Montgomery's "Skaffold" and a 35% discount to the Skaffold's intrinsic Valuation.
6.Moelis has a buy on NFK as does Goldman Sachs