news today Cleveland have reached the 90% level for compulsory...

news today Cleveland have reached the 90% level for compulsory acquisition of remaining Portman Limited shares.

Will they:

a) purchase shares on market to bring Cleveland to the 19.99% level.

b) make a takeover offer for GWR

c) make a partial stake or complete takeover of FAS, which owns 20% of GWR.

d) sell stake in GWR

e) just sit on their 18% stake for a while until market direction can be known.



The Australian reported back in May that Portman/Cl-Cl may be looking to sure up a 30% stake in GWR. This was rejected by both GWR and PMM at the time.