macduffy Posted October 1, 2009 Share Posted October 1, 2009 So, how much more will CPB have to offer or will they give it a miss? I might have to have a closer look at PST now. Link to comment Share on other sites More sharing options...
marathon Posted October 1, 2009 Share Posted October 1, 2009 CPB announced a new issue today to raise $196 million of which $87 million is required to take over PST.The new issue closes on November 2.CPB is now in the position that it is raising $87 million for no purpose which may encourage them to work out a deal with the MD of PST.Without him on side they have no hope and only require $109 million but I can't see them redrafting the new issue documentation which has already been released to the ASX. Link to comment Share on other sites More sharing options...
samson Posted October 1, 2009 Share Posted October 1, 2009 Cash offer at nearly double where PST has sat for the last few months. Pretty good offer I would have thought considering the debt pst is carrying. "Not being in the best interests of shareholders...". Not being in the best interest of the ceo more specifically. I doubt we've heard the end of it. Link to comment Share on other sites More sharing options...
macduffy Posted October 1, 2009 Share Posted October 1, 2009 Yes, I'm inclined to agree. PST is a very small company in comparison to CPB but, I suspect, a very desirable part of CPB's growth plans. Here's today's article from The Australian. http://www.theaustralian.news.com.au/busin...4-16941,00.html Link to comment Share on other sites More sharing options...
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