A bid did materialise and not as much as I had hoped for,but given the current climate, I realistic.
The offer is for GPG shares and under the takeover code they must bid for all shares. If others choose not to take the 185c NZD offer then they will remain listed.
Turner has 117.5m shares on issue at the offer rate of NZD185cents values Turners @ NZD217.3m and converted into AUD @ NZD buys AUD @ 77c = AUD value of AUD167m.
Thanks everyone for all the alerts as I am on the right side and given the current economic climate, I will be driving for the current conditions.
GPG Price at posting:
47.0¢ Sentiment: ST Buy Disclosure: Held