From WSJ
"Yet in another sign that the advertising market is recovering, Aegis Thursday launched a friendly takeover bid for Australia's Mitchell Communication Group Ltd. valued at 363 million Australian dollars ($323.9 million)"
A 15% premium when MCU state they are "At the bottom of a +4 year upswing in the advertising cycle" and "Sitting upon the crest of a significant wave of ad spend to digital media at high margin" come on!
Check out MCU's presentation in May 10
http://asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01067520
I'd expected MCU to be at 1.20 in a month or so anyway, and rerated when they report.
Who will help the small MCU shareholders when the board have such a powerful holding???
How is this fair?
Do I sound upset?
Oscar
a little too friendly if you ask me
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