more hedge fund action

another hedge fund buys in - Deutsche Bank group now has 5.18%, with the biggest parcel bought at 14.5c, and their latest parcels bought at 15c.
Centaurus has 8.09%, with the bulk of shares (43m) of the 66m holding, bought at 15c.

So clearly they think they can get a better price than 15c.

But interestingly, these two hedge fund holdings fully negate the 12.08% pre-bid acceptance holding held by AGL.

So to me, that says that the bid will struggle.
there is no way thse two holders will sell at 15c.

As i mentioned previously, the Scheme needs 75% acceptances of shares actually voting.
but with a widespread register, many s/h will not vote.

so it probably only needs a NO vote from say 18% - 20% of shares voting for the scheme to be voted down.

so with about 13.25% held by hedge funds who will vote NO, it will only need another 7% at most to kill the Scheme !!

the big danger of course, is that if no other bidder emerges, that AGL will just walk away.

then watch the sp hit the skids.

cheers