Takeover, page-2

Anything is possible...but not everything is probable

Who do you think might take it over or take it private?

The obvious one is old mate who probably has around 45% holding

Well if you are looking for a offer from him to take it private, then I dont think you
should buy in for that reason, if he does ever try to take it private then I think there
would be more than a few obstacles to that ever eventuating, public interest would
one of he biggest ones, google patagonia
Also he is a very shrewd business man and I doubt would ever pay a premium or
even par for full control...so you would be waiting quite a while for very little return IMO
He made a fortune betting against the British Government trying to hold the pound
up leading up I think to the euro exchange rate mechanism...He bought a lot of his
stake here by converting his bonds that were issued by AACo to I think fund livingstone
He has used the creep provisions in the takeover laws to keep from being forced to
make a takeover bid for AAC
I have read an article a few years back that quoted him saying that if AAC basically cant get its
act together and make money, then he might look to divest his position or look at his options
look I cant really remember it fully, but I think it may have been just talk to get the SP lower
at least that is what I thought at the time...AACo is relatively small beer to his other assets
and investments.

Someone else taking it over or making an offer

It would be a big ask as old mate already controls 45%

Sure if someone wanted to offer above NTA which is a premium of around 50% to where
we are now IMO maybe even more, or over 100% if you listen to Kerry Lonergran and
what his back of the envelope calculations worked out at...if someone lobbed a bid
it would take around $2 a share to get enough interest IMO just to get a look under the hood

I would be wrapped if twiggy or Gina or any other billionaire were to throw an offer on
the table, at least that might bring some interest to this stock, because at present that
45% or so holding is what is behind our stagnant SP in he face of what has been in
AACo recent history of only bad news, some actually reasonably good news around
the season and prices in general and maybe some growing belief that Hugh may be
the one to actually drive us in the right direction...again fingers crossed

All IMHO only

cheers grant