Well over 1 million last 2 days and price holding in shocking market.
Kinghorn and son have 35 million each.
Wonder who seller is?
Wonder who owns the recent UBS 5% acquisition?
A bank could take this out cheaply and add $10 billion to their mortgage book.
Only problem with that is that the remaining RHG borrowers have been badly scarred (see chatroom on yahoo "anyone else ripped off by RHG home loans") http://au.messages.yahoo.com/finance/home_loans/1819?p=1
Westpac may be keenest as they are copping flack for RHG's loan administration even though they only bought the marketing side of the Rams business (taking them out would reduce that in long term)
Slight leaning to RHG being undervalued for me. Half yearly to Dec should be interesting.
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