falling stock, page-24

Noone will laugh at you, onyx. NHC *should* get taken over, in my view, given:

1. NHC is one of Australia's best coallies;
2. they've made their sale process public (noone wants to have a failed sale);
3. they've already had 3 approaches (+ JSW in the fray);
4. the sale process is being run by their own people- Soul Patt's private equity mob. If SP wants it gone, their own salespeople will have to sell it, kind of. This is different from WHC and BND, which were both on the block, and both with UBS (I think), but failed to sell;
5. They are apparently being "flexible" in their price, from what I've read, so won't be non-negotiasble


There may be more points that I can't think of. :)

val and I are just hacks who have seen too many companies NOT get sold, but we also know these things take time. For example, kazman's second article said if things go well, NHC could set up a data room- in a month.

Takeover targets get a flurry of activity and a rise in SP, when they announce the sale. Then it falls off a bit, but I reckon you'll be right with this one.