AWB 0.00% $1.50 awb limited

awb and wes , page-2

  1. 33 Posts.
    SYDNEY, Aug 29 (Reuters) - A trading halt was placed on
    shares in Australian conglomerate Wesfarmers Ltd and the
    country's monopoly wheat exporter AWB Ltd on Friday
    pending announcements from the companies.
    In a statement, AWB said the announcement would be "in
    relation to the acquisition of a substantial business", but would
    not be related to AWB's shareholding in Futuris Corp Ltd
    or to Elders Australia.
    The companies said they expected to make an announcement
    later on Friday, with analysts speculating that AWB may be buying
    Wesfarmer's Landmark division.'
    Wesfarmers is already a major participant in the rural sector
    through Landmark, which has almost 300 outlets throughout
    Australia.
    Landmark's activities include merchandise and fertiliser
    sales, livestock marketing and wool broking and handling. It also
    offers insurance, real estate and finance services.
    Wesfarmers said at its recent annual profit result that rural
    operations and insurance had contributed earnings before interest
    and tax of A$76.3 million, 8.2 percent of total EBIT of A$927.6
    million.
    Shares in Wesfarmers last traded at A$28.19 while shares in
    AWB changed hands at A$4.15. Futuris shares slumped about nine
    percent in late trade to A$1.50 in a wider market up 0.2 percent.
    ($=A$1.56)
    I just bought into AWB..is this a good deal?
 
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