Peace brother But now I am getting very confused. One poster has...

First 46 Last

Share
Profile

Follow
pear

4,015 Posts.

22

16/05/18

12:37

Post #: 33132286
Share

Originally posted by TerribleTadpole ↑

"Their initial offer was that anybody could roll their shares in a private company" – it still is. The original announcement made it quite clear that up to 20% of existing shares could be invested into the new private company, and that 15% of that would be taken up by ENN and Hony. That leaves 5%, which neither you nor I, nor probably anybody else reading Hotcopper will be able to get a piece of. But the point is that the deal was disclosed a the start, before due diligence began, and hasn't changed.

"they have transferred their shares across" – No. ENN and Hony have agreed to act in concert with Harbour. That gives Harbour 15.11% voting power, hence the "substantial holder" notification. Ownership of the shares hasn't changed. From the announcement:
View attachment 1105993

"Who is going to be sitting at 15%" – Harbour is currently sitting at 15%. Again, you need at least 90% of the voting shares for compulsory acquisition to complete a takeover. From takeovers.gov.au:
View attachment 1106008

The point I'm making about this is that with control of over 15% of the stock Harbour no longer have to worry about matching competing bids.

You seem very determined to be angry about what is a normal occurrence with public companies, which is apparently being conducted in a very orderly and open way. Contrast this with the acrimony that came with the Myer/David Jones proposal, and the strategic interference by TPG during the Amcom/Vocus takeover. This one is tea and cucumber sandwiches!

Expand

Peace brother

But now I am getting very confused. One poster has just said that the shares have not been transferred. Yet we have an ASX announcement that the bidder has 15% of Santos. So which 15% do they have? Or are we talking semantics here?

Pear

STO Price at posting: $6.35 Sentiment: Hold Disclosure: Held
2 Upvote

0 Great analysis

Reply

There are more pages in this discussion • 9 more messages in this thread...

First 46 Last

Add STO (ASX) to my watchlist

(20min delay)
Last $7.00		Change 0.155(2.27%)		Mkt cap ! $23.02B

Open	High	Low	Value	Volume
$6.94	$7.01	$6.91	$26.38M	3.787M

Buyers (Bids)

No.	Vol.	Price($)
40	74192	$6.99

Sellers (Offers)

Price($)	Vol.	No.
$7.00	24597	32

View Market Depth

No.	Vol.	Price($)
4	129176	6.920
6	233123	6.910
9	295156	6.900
11	303505	6.890
4	129828	6.880

Price($)	Vol.	No.
6.940	107742	9
6.950	424616	27
6.960	247191	13
6.970	73167	4
6.980	17507	1

Last trade - 12.00pm 30/09/2024 (20 minute delay)

STO (ASX) Chart

Peace brother But now I am getting very confused. One poster has...

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News