wonder how long before MCG share price catches up to this news:
DJ MARKET TALK: Macquarie Capital Up 51% On Take-Private Bid
0133 GMT [Dow Jones] Macquarie Capital Alliance (MCQ.AU) securities up 51%, or A$1.08, at A$3.18 after A$3.40/security privatization proposal from Macquarie Group (MQG.AU), consortium of investors including AlpInvest Partners NV, HarbourVest Partners, Pantheon Ventures. Proposal is premium of 62% to closing price of MCQ Friday, has recommendation of directors, so has good chance of succeeding. Follows disappointing performance of MCQ securities since listing. Macquarie Group (MQG.AU) shares down 0.9% amid continued worries about how listed infrastructure funds model will fair in global credit crisis. But MQG says it isn't putting any new capital into proposed take-private transaction, rather will transfer cash it receives for its stake in MCQ stapled securities into new unlisted fund that will hold privatized assets. (RBT)
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(END) Dow Jones Newswires
June 15, 2008 21:33 ET (01:33 GMT)
Copyright (c) 2008 Dow Jones & Company, Inc
The high volume buyer is obviously Macquarie itself, mopping up its undervalued funds given that they are cashflow positive.
MCG
macquarie communications infrastructure group
weekly chart of the week, page-5
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