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SSH notice at 7.55am today advises that Danone has
acceptances (incl Bain's) for 39.08% of issued FRU shares.
EK
----- Original Message -----
Sent: Thursday, January 10, 2002 2:57
PM
Subject: Re: [sharechat] FRU
Shaun
My understanding is that if Danone decides
to waive the 90% condition, they would have to take all acceptances from
current shareholders - they could not choose to accept some and not
others. In your example then, they would have to take 80% and could not
scale it back to just 51%.
Regards, Phil
(Hold FRU)
----- Original Message -----
Sent: Wednesday, January 09, 2002 11:53
AM
Subject: Re: [sharechat] FRU
One question, if Danone fails in its bid to acquire 90% but opts to take
a lesser interest, it is my understanding that they must take either less
than 20% or more than 50%. If they take more than 50% do they have to accept
all acceptances from current shareholders, in otherwords if they get 80%
acceptance do they have to take it all or can they just acquire 51%?
Shauno
>From: "Richard Hooper"
>Reply-To: sharechat@sharechat.co.nz
>To:
>Subject: Re: [sharechat] FRU
>Date: Wed, 9 Jan 2002 11:31:06 +1300
>
>Hi All
>Nick has said what my objective (planA) will be. I am waiting
to buy back
>in. I see more benefits in selling now, hope for a price drop
after the
>deadline then if attractive buy back in, thats if Danone is
not successful
>with their 90% target. Ben also presents a most likely
scenero that Danone
>could accept being a major shareholder for the time being,
which will have 2
>effects on the shareprice, longterm growth due to Danones
influence and
>short term drop not being as large as some punters would
think (might not
>drop at all) due to the likes of me ,Nick and others creating
large buying
>demand on very little script left being available to the
buyers.The above
>scenero would be the best outcome for NZers and I hope that
this is why the
>institutional buying is taking place, rather than the
institutions buying
>just to sell to Danone for 2% profit. My estimations of
institutions would
>go from low to pathetic if they sold a great NZ growth
company for 2% gain.
>
>The waters are still murky, in the medium/long term, holding
on to the
>shares is probably not a too greater risk. However if you
bought in at a
>level which I did @ $1.94 my downside risk outweighs my
upside risk. So it
>all depends on your holding in your portfolio, my selling
could be good for
>me, but bad for you and vice versa.
>Plan B ??? Get on in life, accept my bad decision, plenty of
other good NZ
>companies to invest in.
>Not a good time to be emotional, there is never a time for
that.
>Hoop
>
>----- Original Message -----
>From: "nick"
>To:
>Sent: Tuesday, January 08, 2002 9:17 PM
>Subject: Re: [sharechat] FRU
>
>
> > Ok im gonna bite, i know you just taking a childish
cheap shot,
>but show me
> > i said they would be ten dollars, i dont remember it.
> > Nick
> >
> >
> >
> >
> >
> > > it's a shame they didn't get to the $10 you
mentioned they would get to
>a
> > > while back nick....
> > > > ----- Original Message -----
> > > From: "nick"
> > > To:
> > > Sent: Tuesday, January 08, 2002 8:01 PM
> > > Subject: Re: [sharechat] FRU
> > >
> > >
> > > >
> > > > I have now sold all my holdings in Frucor, it
appears that
> > > > there is little to gain from holding now and
everything to lose.
> > > > Danone have been very clever, and it seems to
me that the
> > > > independent report may have been a trifle
optimistic about Frucors
> > > > short term prospects.
> > > > The buyers now are as Ben said, large
institutions, they are
>buying
> > > > now because it looks very likely that Danone
will achieve the 90%
> > > > takeup. So the risk may be low.
> > > > Personally though i feel happier to now be on
the sidelines. (sold
> > > > half 2.40 and the rest today). Im hoping the
bid fails and the
> > > > price falls back, if that happens i will be
back in.
> > > > Shame to lose Frucor, they are a good
ambitious company who
> > > > will be missed on the exchange.
> > > >
> > > > Nick
> > > >
> > > >
> > > >
> > >
> >
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