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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.
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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

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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.

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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

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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

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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.

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  • 3 weeks later...

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

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