Gilbert Tobin Lawyers issued the 18.74% holding notice for Crescent Capital backed Malvern Capital Investments Ltd.
Crescent Capital has a successful takeover history with Gilbert Tobin as advisors, Bay Audiology, ClearView Wealth. The way Crescent Capital likes to work is obtain a controlling interest in the company and work directly with the company, AFR suggesting former Cardno chief executive Andrew Buckley maybe in the picture.
More than a 20% holding and its made under a takeover bid. As far as I can see at the moment the largest institutional shareholders of Cardno, do not hold enough shares for a controlling interest if they sided with Malvern Capital's 19%.
History suggests Crescent Capital are not big payers when it comes to takeover bids and are not afraid to negotiate hard, I am now expecting a takeover bid announcement.
Is a takeover notice now certainly coming and expansion into Asia plan ?
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