Is Tavistock Group going to gobble up AAC?
I think it very unlikely a takeover happens while AACs debt hangs over its head.
If I am Tavistock, I do a $200m rights issue at $1.30. Few holders will pay up. That would allow them to degear while lifting its ownership by 20 percentage points, fairly cheaply, while doing an important debt pay down.
Seems to me they need to pay down debt given the cash outflow, even during what was a good market.
AACo Livingstone: Leading NT cattle company seeks to operate abattoir, page-15
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