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
30.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $319.8M |
Open | High | Low | Value | Volume |
30.0¢ | 30.5¢ | 30.0¢ | $648.3K | 2.146M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 5999 | 30.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
30.5¢ | 450934 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 5999 | 0.300 |
6 | 133545 | 0.295 |
4 | 121982 | 0.290 |
3 | 405000 | 0.285 |
2 | 80000 | 0.280 |
Price($) | Vol. | No. |
---|---|---|
0.305 | 450934 | 3 |
0.310 | 574645 | 11 |
0.315 | 498346 | 15 |
0.320 | 840183 | 21 |
0.325 | 584621 | 10 |
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