Forum Archive Index - August 2000

["Peter Maiden" <pmaiden@today.com.au>]

Tony

Bit late to work today and by the time got organised (even allowing for the 
time difference) it had fallen to A6.18 - didn't take too long to get down 
there either. What a bail out - some big institute sales as well by the looks

However does seem to be bottoming at $6.13 - at least more buyers than sellers 
now. Let's hope. Whoops  ......... hit $6.12

Now $6.09 ....  if interested better wait but getting a bigger bargain in the 
future. Might have to have another go if it goes under an all time low of $5.98

FLB having a hiccup as well.

Doing a bit of research on ORI reminded me that Wesfarmers once offered $12 a 
share for ORI a few years ago

Wesfarmers building division (Bunnings) must be interested in picking up the 
distribution side of FLB - PlaceMakers etc. Bunnings have had a large expansion 
program (especially the big 'sheds' they have created) over the last few years 
and have shown an interest in NZ previously (in annual reports). Their biggest 
competitor is Hardwarehouse (part of Howard Smith) who already have a few 
'sheds'   
in Auckland. Seems a logical way to get into NZ and this could be part of GPGs 
plans (rumour again) to break up the FLB group.

ORI back to $6.10 - shouldn't keep two screens open.

Peter

PS in writing my name somebody had the audacity to sell 7622 at $6.08. Maybe 
the pub is the best place for a few hours. 






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