CNP 0.00% 4.0¢ cnpr group

where do the shorts go if

  1. 4,485 Posts.
    If there is an attempted takeover? This company is ripe for the pickings from any number of hedge funds or other property groups & don't forget Macq Bank which already had a tip at them.

    Market Cap $380M
    Net Assets after writedowns $2.4Bln!

    Even if there was another writedown of assets valued at 8bln, net assets would still be $1.6bln.

    Takeover offer at 90c, double Friday's close & [email protected] of asstes picked up for $760mln. For some reason I keep coming up with a takeover offer of $1.08, however even at 70 odd cents if a fund was very cheeky (recent highs), the s/p would trade to a premium of that as the large shorts would have to cover. They would have no chance as it would be at the takeover offer price or higher in a flash. CNP is got to be getting very appetising to cashed up fundies wanting a bargan.
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