Forum Archive Index - December 2001

["Richard Hooper" <hoop@ihug.co.nz>]

Yes
I am starting to get the willys on FRU as well ... noticing the market price
is falling back to the t/o price doesnt add any confidence either. It seems
that FRU might not be the crash hot stock that these directors keep telling
us it is........because.......if it was a hot stock there would be others
climbing all over each other in purchasing this stock. It seem to me that
all this could be salesman talk. Might have a good think tomorrow about
selling.
I refuse to sell to the French, so open market is my option.
Bugger!!!... wished I sold 2 weeks ago.
Hoop

----- Original Message -----
From: <mills@chem.canterbury.ac.nz>
To: <sharechat@sharechat.co.nz>
Sent: Wednesday, December 12, 2001 11:03 PM
Subject: Re: [sharechat] Frucor Alternative offers


> Well Marilyn
>
> would have to agree with you, I think that the directors are playing
> their cards too close to their chests if there is another possible offer
> - would seem unlikely but you never know (one can hope).  The market
> seems to be discounting anything being likely by the current shareprice.
>
> IMO, in the absence of another bidder, Danone has no reason to increase
> their offer.  Their delaying tactics are putting the jitters up people
> to get out because there is no certainty of the shareprice remaining up
> without Danones support - which should swing the 'uncertains' Danone's
> way.
>
> I don't know the in's and out's of takeovers.  Is there anything
> stopping them from making their offer unconditional on 4 Jan, picking up
> probably 40-60% of the company, waiting for the arbitrage holders to
> sell out and then come back to the remaining holders with a slightly
> higher offer?  They pretty much have Bains shares in the bag - so why
> would they want to pay more for them?
>
> From what I can see, they REALLY want FRU and seems to have the time to
> wait to get it, throwing a bit of doubt, bad press and reverse
> psychology in and it seem to be swinging things their way
>
> MB (hold FRU)
>
>
> Marilyn Munroe wrote:
>
> > Anyone considering making an alternative offer doesn't have long.
> >
> > My best guess is that no competing bidder will emerge and that on 4th
Jan,
> > when Danone's offer closes they will declare their offer unconditional
and
> > take up whatever level of acceptances they have receivied.
> >
> > This will hold the blow torch to the wallets of holdouts such as myself
who
> > beleve that the offer does not fully value Frucor.
>
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