"Still can't quite understand that ACE's recent profit guarantee swayed Ausbil and Perennial to vote yes on the merger."
They guarantees give them some short term downside protection while the overall deal limits the upside to outsiders. Ausbil, Perennial and Cundill will probably sell over the next 12 months as the new seven is not equal to the old seven.
The circumstances in which the guarantees don't apply are so wide that isn't really a guarantee it's just posturing.
Bear in mind that Stokes has his own real money on the line. Some fund managers have more to fear from an angry Stokes than they do from their own investors.
SEV Price at posting:
$7.77 Sentiment: Sell Disclosure: Not Held
