[hchtml]I hear some M&A activity with PPX in the background is...

I hear some M&A activity with PPX in the background is mooted. Finished the day quite strongly today with a $3 million bid near the close.

Has anyone heard anything in regards to a possible purchase Carter Holt assets?

[quote]ASSETS SOUGHT AFTER

Carter Holt management has struggled with a high New Zealand

dollar, low prices for its products and soaring freight costs.

Hart, who built his NZ$2 billion wealth first in stationery

and printing and then food products, is expected to break up

Carter Holt.

Analysts value Carter Holt assets on a break-up basis between

NZ$3.6 billion and NZ$4.4 billion, compared with its current

NZ$3.3 billion market capitalisation.

There will be no shortage of buyers, with Weyerhaeuser

interested in the forest estate, New Zealand's largest, and

Australia's Amcor Ltd. and PaperlinX Ltd.

interested in the pulp, paper and packaging operations, analysts

say. Private equity companies and timber managers are also

expected to be interested.

"In itself, the strength of the Carter Holt brand and

products and reputation would certainly rise above some of the

economic cycles," IndustryEdge's Eastment said. [quote]