Heya LZA. I don't think too many people on HC are in on this, to be honest, and why would one be? From an offer of $2.70 to the finer print of $2.60 if the AUD is $1.06, and it's close to that now... and the AUD could be anything when this is all done and dusted by June. I would think there are very few holders who will make anything from this- one would have had to have bought at the very last moment before the T/O offer came, to do so. If this is all about pricing in USD, surely RDF's competitor could come up with a price that is suitable to them, and provides something more of a premium to the RDF price, although the Consortium has the right to match any competing offer. It just seems a cheap price, no matter what the Consortium says.
I read the other day that it is unlikely that the RBA will intervene in the AUD, but to expect jawboning to bring it down. With about 9% premium on my money now, this could end up being a nil premium event by June with the rise and rise of the AUD. It's interesting... the Pratt family booted out the former Directors for not accepting a takeover, and now we have this. As shareholders in Australia have shares in the AUD, this could hardly be represented as a good deal for us.
RDF Price at posting:
$2.54 Sentiment: None Disclosure: Held
