Readers of my previous post should also note... the last time MSF made a announcement regarding a "proposed merger" with Tully Sugar was on 13 August 2008. This was just before the results announcement for 30 June 2008.
This time round they announced the 'merger proposal' and their results on the same day.
Just for the record - last years result for MSF was a full year loss of $7.1M.
This years loss was only $5.2M but obviusly worthy of another merger announcement.
Any wonder Perpetual have cleared out and the wealth destroyers at Telstra Super fund have climbed on board.
I might check around and see what I can find out about the timing of the ending of previous merger discussion back in May. I bet there's bound to be a continous disclosure story to that.
Michael King (MFS) and Mike Barry (MSF) must have gone to the same business school or something.
Sweet and short...
MSF Price at posting:
$2.25 Sentiment: Sell Disclosure: Held
