This kind of activity is to be expected (and was mentioned a couple of weeks ago on this forum).
I was in VEI when Pulse Health/Viburnum made a cheeky bid for it. It wasn't successful, but they flushed out the Chinese buyer who came in and took out VEI with a 30-40% premium. A good result and Pulse Health/Viburnum still made money as they sold the controlling stake to the Chinese company.
The whole process was really about extracting the latent value in the company. A new buyer can inject funds and easily eliminate the debt hangover here which is suppressing the share price.
I think in CAJ's case, there are a number of potential buyers (in the industry) who can consolidate with their existing facilities. Even privatizing would reduce a number of ASX listing and *management* costs. I also wouldn't be surprised if Chinese money came in take out the company. CAJ have already expressed an interest to grow in that region. It is a very similar scenario to VEI, as the Chinese buyer was looking to replicate similar services in China using the Australian expertise.
It all makes sense in theory!
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Last
32.0¢ |
Change
0.005(1.59%) |
Mkt cap ! $335.8M |
Open | High | Low | Value | Volume |
31.5¢ | 32.0¢ | 31.5¢ | $43.26K | 136.8K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
16 | 263528 | 31.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
32.0¢ | 1896121 | 10 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
16 | 263528 | 0.315 |
8 | 76917 | 0.310 |
6 | 46083 | 0.305 |
2 | 21300 | 0.300 |
5 | 102863 | 0.295 |
Price($) | Vol. | No. |
---|---|---|
0.320 | 1896121 | 10 |
0.325 | 776668 | 21 |
0.330 | 2656222 | 11 |
0.335 | 137516 | 9 |
0.340 | 2147828 | 7 |
Last trade - 11.44am 13/09/2024 (20 minute delay) ? |
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