If that is the play, and it is only speculation at this stage, then MLX will have an interest in keeping WGR and AAG SP low. Standard t/o premium of say 30% on WGR, which you'd expect in April if the transactions go through and that is the strategy. Still nice upside in the short term if it comes off and plenty of time to consider if this is likely to happen.
Seems to me the best bet is to spread the coin around amongst all 4 (if you through ADN into the mix, which has a boundary with Rover and is spinning out SA assets from the Rover assets, presumably for a corporate play). Upside in all the targets and MLX will be a winner for picking up quality assets at excellent prices.
What do others think?
JT
AAG Price at posting:
27.0¢ Sentiment: Buy Disclosure: Held
