I closed my short at $10.70 after(belatedly) getting news that early last week WOR executived were in M.E> consulting with DAR board re a possible buyout of WOR. hence the SP rose sharply through $11 mark. Judging by today's SP WOR are back in town and (so far) without a deal. Impossible to know exactly how events will pan out but DAR paid $10.38 for their 13.3% stake and perhaps there're offering WOR a similar amount? Back in Nov they were willing to pay around $11.40.
My take is that if DAR fails to make a bid the fundamentals along with macro will put pressure on WOR's SP. SP at/above $11.oo gave holders opportunity to exit. Meanwhile things too uncertain to open a short but that can change. Oil price a big influence on situation.
News: WOR Worleyparsons awards PMC services contract by Manaseer Group, page-12
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Last
$13.86 |
Change
-0.120(0.86%) |
Mkt cap ! $7.649B | |||
| Open | High | Low | Value | Volume |
| $14.11 | $14.16 | $13.86 | $12.08M | 868.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 13996 | $13.86 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $13.87 | 2900 | 1 |
View Market Depth
| Last trade - 16.10pm 27/11/2024 (20 minute delay) ? |
| WOR (ASX) Chart |
