I am assuming that if they get even 30 to 40% by the deadline they will simply extend, possibly sweetening the offer. If they get even that far seems like another bidder has little chance of getting to even 50%.
I wont have CGT on mine, but seems to me that many are probably going to pay $4+ CGT. They must be thinking "what equivalent can I buy for $18/$19". Imo we are seeing, and will see a large core (much more than 10%) sit tight at $23. It is my understanding that many in JBM are longterm yield investors (not used to large CGT liabilities).
On the other hand the falling pon playing into Xstrata's hand?
With no CGT and buying opps imminent in the market I am getting tempted to part sell.
Any smart views out there?
EL
JBM Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
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