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jamwolf

5,217 Posts.

32

22/06/18

14:58

Post #: 33887007
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Originally posted by GPASAS ↑

Hi Jamwolf

I am surprised that you are seeing Cimic as the big loser and blaming the previous management and also saying that Mr Brazil got it wrong. Cimic said in 2014, when it was called Leighton, that it wanted to sell out its 50.6% of shares and the Board then said it would try and sell the company. Two bids came in at 88.5 and 90c subject to Cimic accepting, and Cimic would not accept them so the rest of us shareholders didn't get the chance of those bids. Surely Cimic felt that the shares were worth more than 90c if it would not accept. So then it comes out and makes a takeover bid at 75c for the rest of us. I was actually very pleased of what Mr Brazil did in those circumstances and I am very sorry now for his big loses since Cimic took control.

Since Cimic took control, Devine has had massive losses and the revenue has fallen down enormously. I would love to know how Cimic is doing itself in the same areas as Devine. It would be interesting to see if they have increased their own revenue in the housing area.

GPASAS

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Good point. I had forgotten that they wouldn't sell.

DVN Price at posting: 34.0¢ Sentiment: Buy Disclosure: Not Held
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