i think you hit the nail on the head HonkybIn the sort term CCL...

i think you hit the nail on the head Honkyb

In the sort term CCL stands to make a tidy profit if the deal goes through. A payment of $305-$380 is not to be laughed at.

However it will dent their future growth prospects in Australia, as a sustained move into the alcoholic beverage market has been on CCL's agenda for some time.

I'm not sure on CCL's financial capacity for a takeover however if I was on the board I would at least take a look at FGl or becoming a joint bidder.

I noticed in the statement that CCL said they have no interest in becoming a minority holder/one without a management voice in FGl. I wonder if SABMiller offered them a small stake but not an equal half?

In regard to the offer price, even if you take $4.30 a 20% premium is 86cents or an offer price of $5.16. I would take this as the minimum offer that is acceptable for most shareholders.