agree with others here there a statement confirming a $200M...

agree with others here there a statement confirming a $200M transaction is in order. We were told it was subject to final closing negotiations too.

The silence is as others have noted playing into the hands of the share buy-back to downplay this, therefore in theory, it benefits long term holders.

As of the last quarterly AZZ were running low on cash so I doubt they could afford to buy back large volumes without having extra cash in the bank.

There certainly is a lot more support around the 40cent mark in the last day.

And I believe AZZ will need to issue a disclosure to the ASX in 3 days latest to confirm any buy-back purchase, if it is they who are buying.

So confirming the some big volume share buy backs you could also interpret this as confirming they have the cash.

What I consider odd however that the stated buyer, Chesapeake, has not issued a statement to market.

In any case it looks as though the deal has gone through and the buy-back has started.

----DYOR----