yes, interesting news. doing the numbers on them, the Dec half year report stated net asset backing of 84c a share, yet share price is way less than this. Even considering a doubling of shares on market, 42c per share (not including cash raised in placement), still seems cheap.
Seems it would be in Leighton's interest to buy the whole lot and save costs thru operational synergy and selling of assets they no longer need.
Just my opinion, I'm not a holder by thinking to get in for the placement.
DVN Price at posting:
25.2¢ Sentiment: None Disclosure: Not Held
