re: costello
The nature of a leveraged equity buyer is extracting value. This will be achieved though mass job reductions and eliminating local produce as it cant compete. CML supplies 40 percent of the nations food. It is a huge political decision and not one easily won by a quick billion in revenue from the sale. That is a far too cynical view of how this Howard government runs the country. I'm not saying its impossible, but with a resurgent labour party this potential bid will sit very badly with voters of all political pursuasions. Treasury may come up with numbers to argue it's deflationary but my gut feeling is that wont be enough for Howard to risk voter backlash. On the other hand if someone gave Mr Hart at BPC a nudge and a wink (and 10 bil) the New Zealander would be far more palatable
CML Price at posting:
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