HotDog have you ever thought that when GMG started talking to Macquarie Bank and JP Morgan about buying Macquarie out and raising capital to pay down all 2009 debt that people close to the deal from Mac Bank or JPM leaked it hence the sell off?
A lower price just before a trading halt is called plus a 10% discount equals a better deal for the institutions taking it up. Don't forget Macquarie took shares for their $200m payment which they have to hold for 6 months.
LOWER PRICE MEANS MORE SHARES FOR MAC BANK.........
I have also mentioned in another post that while the institution take up was strong, JP Morgan was stuck with the left over retail offer which they would have been dumping.
Can i have that cookie now....
GMG Price at posting:
60.8¢ Sentiment: LT Buy Disclosure: Held
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