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2310 GMT [Dow Jones] STOCK CALL: Bid proposal for ABB Grain...

  1. goodluck
    493 Posts.
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    29/04/09
    11:01
    Post #: 5066115
    2310 GMT [Dow Jones] STOCK CALL:

    Bid proposal for ABB Grain (ABB.AU) by Canada's Viterra (VT.T) at A$9.00-A$9.50/share has 50/50 chance of success, Austock says; happy to buy up to A$9.00 in short term with good chance of Viterra increasing bid above A$10.00; reasonable long term value at A$10.21 within 12 months as season, capex plans play out; warns traders with short term view should be aware deal might take 4-8 months to consummate.

    As standalone company "we still believe ABB has the best autonomous growth path of any listed Australian grain company," it says. Rating unchanged at Buy, target price A$10.21 vs yesterday's close at A$8.43 (RCB)
    ABB Price at posting: $8.62 Sentiment: Buy Disclosure: Held
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