1. Most Discussed
  2. Gainers & Losers
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
    Cheers
    Liam



    *****************************************
    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.


DISCLAIMER:
Before making any financial decisions based on what you read, always consult an advisor or expert.

The HotCopper website is operated by Report Card Pty Ltd. Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.

From time to time comments aimed at manipulating other investors may appear on these forums. Posters may post overly optimistic or pessimistic comments on particular stocks, in an attempt to influence other investors. It is not possible for management to moderate all posts so some misleading and inaccurate posts may still appear on these forums. If you do have serious concerns with a post or posts you should report a Terms of Use Violation (TOU) on the link above. Unless specifically stated persons posting on this site are NOT investment advisors and do NOT hold the necessary licence, or have any formal training, to give investment advice.

Top