There is a huge speculation now that SEV may bid for CMJ... i just wonder what will be the typical price they would like to offer?? From the previous reports we can see that Murdoch offered around 4.40 a share... (I'm not sure why the deal didn't go thro at that time??) also various reports indicating a price range in the order of $4-$5 per share... I'll really appreciate if some one can throw some figures based on the earning capability of CMJ... It looks to me that it has been already trading at the PE ratio of 26+...So how much more premium will it attract?? The following report indicates a price offer of 5$... http://www.theaustralian.news.com.au/business/story/0,28124,26037308-5013408,00.html I'm interested in knowing what do the normal people expect??
I did buy them for 10c div last time when they were trading at around $2.12... but i sold them after getting the div... looking to buy again for this takeover premium + 6c div...
From the charting perspective i would like to get your attention to a recent post by selmax on gapping theory... http://www.hotcopper.com.au/post_single.asp?fid=2&tid=976290&msgid=5436924
So the price seems to be holding up well above the recent gap...i might buy up around 3.15 range if it get up there...
Looking forward for others opinions...
Cheers PMT
CMJ Price at posting:
$3.31 Sentiment: None Disclosure: Not Held
