Forum Archive Index - February 2001

["Malcolm Cameron" <malharcameron@hotmail.com>]

from malcolm malharcameron@hotmail
gary if shell wants it it has to bid for it again either by normal take over 
or by buying selected assetts off the new company and are shareholders going 
to accept the same terms I doubt it and shell seems to think it got a 
bargain.i would definintely like to see an open takeover offer or open 
bidding for assets look what happened to fletchers bid for the australian 
oil company I think the shareholders were laughing all the way to the bank.


>From: "Gary Rountree" <gary.rountree@xtra.co.nz>
>Reply-To: sharechat@sharechat.co.nz
>To: <sharechat@sharechat.co.nz>
>Subject: Re: [sharechat] fletcher challenge breakup
>Date: Tue, 6 Feb 2001 21:55:30 +1300
>
>Malcolm, I agree entirely with your view regarding the fact that no hedging 
>was put into place. However what makes you think the small shareholders 
>will be better off if the deal is scuttled? If share price history is 
>anything to go by then the price would drop if the deal was off (look what 
>happened with Forests). The price is still around $1 below the theoretical 
>prices, however that uses current exchange rate and assumes  Rubicon will 
>be worth the $1.20 Fletchers said it would be. The main thing that should 
>have changed for them would be the unrealised gain they have picked up on 
>the underwriting of FFS.Has anyone else got a view on what it will trade 
>at?
>
>   a.. Subject: [sharechat] fletcher challenge breakup & sale
>   b.. From: "Malcolm Cameron" <malcolm@cameron.gen.nz>
>   c.. Date: Mon, 5 Feb 2001 13:26:47 +1000
>
>--------------------------------------------------------------------------------
>
>
>what are small shareholders changes of approving the fletcher challenge
>breakup but stopping the sale of fletcher energy. forcing them to make it a
>seperate entity too. then it would be  subject to normal takeover offers or
>be able to sell assets or buy assets as normal. i think there acceptance of
>an offer in us dollars without fixing the exchange rate into new zealand
>dollars was very detrimental to new zealand share holders
>disclosure i live in australia but approx 99% of shares are nzse shares
>because i havenot found a broker in australia as good as access in new
>zealand i own shares in all three fletcher challenge divisions.
>would appreciate comment from other sharechatters
>malcolm cameron
>

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