takeover target, page-5

Not sure banks will move quickly but they if they are confident they can fund from more conventional source than Rams, they may start accumulating. The banks know the quality of the loan book and that the loans are insured so nothing much to lose waiting around. Institutions are already taking positions e.g. Perpetual and the question has to be asked whether blocking stakes will be formed. Perpetual paid between 1.86 and around $2 for their 5.5% or so stake