Forum Archive Index - January 2002

["Ben Dutton" <bendutton@sharechat.co.nz>]

Hi Jefley

You asked:
> about half-a-million shares have been traded so far today.  imho, this
> suggests that a lot of sellers would rather sell to anyone than danone.
>  conversely, a lot of buyers have stronger nerves than i have.
> who are these buyers?
> what sized bundle is needed to make a sensible profit after brokerage if
> they are planning to sell to danone?
> could danone be a closet buyer on the market?
The buyers will be institutions and large players who are looking at making
a small % gain by buying on market and then selling to Danone.  I'd be
surprised if Danone was a closet buyer but, if they are, a SSH notice will
need to be filed under the "creep" provision of the takeovers code (I think,
please correct me someone if I'm wrong here).

You said:
> Hoop, i think i'll join you as a wimpy seller.  whether i call the
"missed"
> 4 cents the price of prejudice or the price of principle will be decided
> when i get the cheque ...
You should also think about just hanging on to your shares.  Otherwise, you
may be selling them to some buyer who is just going to pass them on to
Danone anyway.  Principle will see you holding your shares in the hope that
Danone will fail to get 90% acceptance, and thus become a majority
shareholder of Frucor.  Frucor will then be able to benefit from the
synergies Danone will bring, as well as return shareholder value to NZ
investors and value to this country in general.

Best Regards

Ben Dutton


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