jazzmoo Posted March 22, 2007 Share Posted March 22, 2007 Well, the cat is out of the bag. Cemex obviously plan to increase their offer, unlike the media plants of recent weeks suggesting otherwise. Cemex would not bother extending the offer if they were simply going to walk away from it. Link to comment Share on other sites More sharing options...
arms38 Posted March 22, 2007 Share Posted March 22, 2007 I think the extension has more to do with the fact that the US department of Justice(DOJ) not yet having given its approval at this stage which is one of the conditions. I think once this is given we will see where Cemex really stand and yes hopefully an increased offer. Arms Link to comment Share on other sites More sharing options...
jazzmoo Posted March 22, 2007 Share Posted March 22, 2007 QUOTE (arms38 @ Thursday 22/03/07 02:17pm) Yes, but that decision is due any day. If Cemex had already spat the dummy because no one has sold them any shares at their offer price, they wouldn't bother waiting for the decision, which is likely to be positive for them anyway. They would just call it quits on the basis that no one has taken up their offer. I agree Cemex is unlikely to revise their offer until the decision comes through. Then they will. Link to comment Share on other sites More sharing options...
arms38 Posted March 22, 2007 Share Posted March 22, 2007 I totally agree, but I think they will wait until all is in place before they increase the offer, this gives them the time to wait and a combination of both may be the reason for the extension. As for the decision it is taking a little longer than everyone thought and may be not out before the end of the month. I think there still interested but they ain't in a hurry, they've got twelve months to complete the deal.. Arms Link to comment Share on other sites More sharing options...
david_j_c Posted March 22, 2007 Share Posted March 22, 2007 In reply to: arms38 on Thursday 22/03/07 01:29pm From SMH today: "Since launching the bid in October, Cemex has had few acceptances, gaining only 0.19 per cent of the construction material group." Not much point in the extension with that sort of response. David Link to comment Share on other sites More sharing options...
jazzmoo Posted March 22, 2007 Share Posted March 22, 2007 In reply to: david_j_c on Friday 23/03/07 10:07am Correct. And there is also no point in Cemex coming back with just a small higher offer. The market has spoken and they know how much they have to pay if they want Rinker. The longer they leave it, the more Cemex expose themselves to currency risk with a rising Aussie dollar and the stabilisation/recovery in the US construction market. Plus Rinker is bolting on every other week. Link to comment Share on other sites More sharing options...
jazzmoo Posted April 10, 2007 Share Posted April 10, 2007 An annoucement that can't be released immediately but could affect the company's share price. Can we presume a rival takeover offer? Link to comment Share on other sites More sharing options...
mysterious Posted April 10, 2007 Share Posted April 10, 2007 In reply to: jazzmoo on Tuesday 10/04/07 10:22am trading halt, back on the 12th or later.... Link to comment Share on other sites More sharing options...
nifty49 Posted April 10, 2007 Share Posted April 10, 2007 In reply to: mysterious on Tuesday 10/04/07 11:33am I can now sell my RIN for $19.50 cash. I hold under $2000. I will have a CGT headache as had them since CSR split! Nifty http://www.sharescene.com/html/emoticons/wub.gif Link to comment Share on other sites More sharing options...
nifty49 Posted April 10, 2007 Share Posted April 10, 2007 In reply to: nifty49 on Tuesday 10/04/07 12:00pm Under 2000 shares... Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now