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
