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ENE $7.98

is the conditional offer from abn amro for real??

  1. liam77

    590 Posts.

    G'day all
    Its seem like conditional takeover offer is the best tactics employed by financial intos to boost up share prices of their backing companies is becoming popular..

    The same trick invented by ?? for PLB offer for ECP is spreading fast throughout the market. What is next I wonder ?. I own some ENE but will sell on this opportunity and I won't bother to wait around for this offer to eventuate.

    Merry Xmas to all and good luck

    Headline News
    Energy Developments Receives Takeover Proposal
    By Ben Schneiders, 23 Dec 2002

    Environmentally friendly power generator Energy Developments Limited (ENE) said today it has received a proposition from ABN AMRO Capital Investment Australia in which they may make an offer to acquire all the shares in ENE with a view to delisting ENE and making it a private company.

    In the proposition ABN Amro said, "(We) currently believe that they would be able to offer to ENE shareholders a price greater than $3.00 per share, which implies a minimum 36 per cent premium to yesterday's closing price of $2.20".

    ENE said given the propositions highly conditional nature its directors are not supportive of the proposition at this time. The company said given the steps proposed by the parties it is possible that no offer at such a price level would be forthcoming.

    Shares in ENE are trading at $2.72, up 50 cents or 22.5 per cent.

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