Forum Archive Index - September 2000

[Mike Hudson <MHudson@placemakers.co.nz>]

Nick wrote
"Over the last few months the nz herald has run a number 
of stories about the fletcher stocks, most have turned out to be 
just unsubstantiated rumour. 
Question is are they right this time?. A bid for building at 2.85."

This could be right. In my post of 6th September I said ". As I understand
it there is only one potential buyer doing due diligence, a UK Investment
Company (not GPG) This potential buyer would almost certainly be looking at
flogging off the assets piecemeal." 

 This potential bidder certainly did come on the scene very late and had not
completed its DD when I wrote my note. Although my understanding is that the
company concerned is not GPG I would not be surprised to see Sir Ron
involved somewhere. IMO a price of $2.85 would be a bargain especially
considering the fall in the local peso.

Cheers
Mike H 


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