# Takeover Targets



## michael_selway (16 December 2005)

*Next Merger or Takeover (your guesses)?*

Hi we all know about the TOL & PRK takeover, RCD & Allco merger, Mayne Demerger etc etc

What are your guesses for future mergers & takeovers?

Im thinking ADB & BEN merger? Possible?

Any others?

Thanks


----------



## son of baglimit (16 December 2005)

*Re: Next Merger or Takeover (your guesses)?*

NMS TO BUY OUT BHP - sorry just joshing


----------



## Julia (16 December 2005)

*Re: Next Merger or Takeover (your guesses)?*



			
				michael_selway said:
			
		

> Hi we all know about the TOL & PRK takeover, RCD & Allco merger, Mayne Demerger etc etc
> 
> What are your guesses for future mergers & takeovers?
> 
> ...




Re ADB & BEN, have you actually heard that this is being discussed, or just taking a hypothetical?  It's an interesting thought, but would require some compromise on the part of both in terms of their underlying philosophy.


Julia


----------



## michael_selway (17 December 2005)

*Re: Next Merger or Takeover (your guesses)?*



			
				Julia said:
			
		

> Re ADB & BEN, have you actually heard that this is being discussed, or just taking a hypothetical?  It's an interesting thought, but would require some compromise on the part of both in terms of their underlying philosophy.
> 
> 
> Julia




Hi purely hypothetical atm, yes compromise will be required, but synergies can be created

btw what underlying philosphy do u see different/similar in each


----------



## sam76 (17 December 2005)

*Re: Next Merger or Takeover (your guesses)?*

I believe Perpetual will take over Treasury Group once TRG's FUM get to $10,000,000,000


----------



## bvbfan (17 December 2005)

*Re: Next Merger or Takeover (your guesses)?*

HBOS (Halifax Bank of Scotland) for St George

Maybe OXR by Xstrata, but certainly hope not


----------



## mime (17 December 2005)

*Re: Next Merger or Takeover (your guesses)?*

London stock exchange??


----------



## Kipp (13 July 2006)

*Re: Next Merger or Takeover (your guesses)?*

What is the best way to get the early world on takeovers?  It is well known than in nearly 90% of cases the company that receives an offer goes nuts (onesteel, titan etc) but what is the best way to find out before the news is public?


----------



## nelly (13 July 2006)

*Re: Next Merger or Takeover (your guesses)?*

..Pinky finally gets it right...and takes over.........soon


----------



## Realist (18 July 2006)

*Re: Next Merger or Takeover (your guesses)?*

I'm guessing someones gonna go for MTN.

I know there was a pissweak 68c offer recently, but now a more serious one at maybe $1.80 or something which may be approved.

Market cap is only $29M - if they offered $75M they still get a good company cheap.

Also Repco, Nylex, possibly.


----------



## CanOz (18 July 2006)

*Re: Next Merger or Takeover (your guesses)?*

Repco maybe, but Nylex? Who would want to take over that much Debt in an industry facing more losses? (Not that I'm an F/A or anything) Its cheap for a reason.

I think they'll be more consolidation in the mining industry, and maybe we'll see more Uranium deals.

BTW...anyone suspect why is SPN - SPAusnet so cheap?


----------



## Realist (18 July 2006)

*Re: Next Merger or Takeover (your guesses)?*



			
				CanOz said:
			
		

> Nylex? Who would want to take over that much Debt in an industry facing more losses? (Not that I'm an F/A or anything) Its cheap for a reason.
> :




How much debt do they have??


----------



## YOUNG_TRADER (18 July 2006)

*Re: Next Merger or Takeover (your guesses)?*

The chinese are coming next week,

See the Uranium thread!


----------



## CanOz (18 July 2006)

*Re: Next Merger or Takeover (your guesses)?*

$155m with a market cap. of only 56 million. Last i heard they were restructuring thier dept for like...the third time or something. You would think once (if) they get things to turn around then it may get a bit more attractive. But they take a hit too when the auto industry slows, and with oil the way it is, you wouldn't think that would help them much either. Not to mention their raw material costs, being plastics.


----------



## Realist (18 July 2006)

*Re: Next Merger or Takeover (your guesses)?*



			
				CanOz said:
			
		

> $155m with a market cap. of only 56 million. Last i heard they were restructuring thier dept for like...the third time or something. You would think once (if) they get things to turn around then it may get a bit more attractive. But they take a hit too when the auto industry slows, and with oil the way it is, you wouldn't think that would help them much either. Not to mention their raw material costs, being plastics.





You are correct they do owe $155M and the market cap is $56M

But how much are their assests worth?

That is the key!!


----------



## CanOz (18 July 2006)

*Re: Next Merger or Takeover (your guesses)?*

Thier net is about $72 m. Still don't see how they would be a target???


----------



## Realist (18 July 2006)

*Re: Next Merger or Takeover (your guesses)?*

Well it is a wild guess, I do not own NLX and would not buy it.  I just thought it could be a target - I admit I am more than likely wrong.  But something will have to happen to them soon surely??


----------



## twojacks28 (18 July 2006)

*Re: Next Merger or Takeover (your guesses)?*

i think that GE will take over Brainz in about a year or so when it is fully up and running.


----------



## Kipp (29 July 2006)

*Re: Next Merger or Takeover (your guesses)?*

ZFX to bid on BSM?  ZFX have lots of dough and looking to expand their resources, BSM lots of resources not much cash... market cap of ~10 mill... petty cash for ZFX.  (They are currently in JV).

I've heard absolutely no rumours of the above happening, it's just wild speculation.


----------



## YOUNG_TRADER (29 July 2006)

*Re: Next Merger or Takeover (your guesses)?*



			
				Kipp said:
			
		

> ZFX to bid on BSM?  ZFX have lots of dough and looking to expand their resources, BSM lots of resources not much cash... market cap of ~10 mill... petty cash for ZFX.  (They are currently in JV).
> 
> I've heard absolutely no rumours of the above happening, it's just wild speculation.





We think alike hence why I started the BSM thread    


Also CSM will T/O JML eventually

and not sure if it would happen but with PEM  a cash cow generating $65m in free cash a qtr but limited supply (another 5-7yrs) at its Broken Hill operations and CBH holding ground (Rasp CML 7) thats in between PEM north and south operations (ie Rasp CML 7 is in the centre) could be some much need reserves, not to mention CBH's recovering Endeavour operation (20yrs + reserves) plus its BFS on Sulphur Springs Open Pit, so I would think a merger between CBH and PEM, or a takeover of CBH by PEM would be one of the most savvy coporate plays around


----------



## edogg75 (29 July 2006)

*Re: Next Merger or Takeover (your guesses)?*

OXR to takeover PNA. Both operate in Laos/Thailand. Simple way for OXR to increase their se asian resource base.


----------



## scsl (29 July 2006)

*Re: Next Merger or Takeover (your guesses)?*

perhaps RIN could be a potential takeover target, especially to one of its European competitors hoping to build up a presence in the US, or even to one of the large US materials companies... RIN's recent fall in sp makes this a lot more likely.

although i think it's a safer bet that RIN will soon make make a bid for one of its listed US rivals...


----------



## MalteseBull (30 July 2006)

*Re: Next Merger or Takeover (your guesses)?*

I firmly beleive Fortescue (FMG) will take over Australasian Resources (ARH) to be an Iron Ore superpower


----------



## doctorj (30 July 2006)

*Re: Next Merger or Takeover (your guesses)?*

I expect there to be action over at Wesfarmers - they're facing a tough period to maintain their crown of market darling so I expect them to start making some moves. The Fin Review this week suggested a coming together of HVN and Bunnings.  Other possibilities include expanding production of Wesfarmers Energy or buying another insurer to grow that side of their business.

I'm a little shocked in MGX's offer for AZR.  I don't think Koolan island is the type of project that's likely to benefit from being part of a larger group and I don't think AZR holders are gettting a great offer considering how close it is to production.

On the whole, everyone's cashed up at the moment (insurers, resource companies that are already producing) but at the same time the market is becoming more competitive (premiums are falling, growth is much harder & acreage is rarer and much more expensive).  M&A activity is going to provide cashed up companies with their best & cheapest avenue to growth.  This is just the beginning.


----------



## sam76 (30 July 2006)

*Re: Next Merger or Takeover (your guesses)?*

I think that RIO could be looking closely at EXT to replace Rossing.

I also believe that WPL could takeover HDR


----------



## CanOz (30 July 2006)

*Re: Next Merger or Takeover (your guesses)?*

Just saw on Bloomberg that WAL MART is looking at an aquisition of a retailer in Australia...Coles comes to mind, only because they shed some units and seem attractive from a price point of view. WOW is the only other option, which has a business unit similar to thiers. But other than that who else is there really?


----------



## michael_selway (30 July 2006)

*Re: Next Merger or Takeover (your guesses)?*



			
				CanOz said:
			
		

> Just saw on Bloomberg that WAL MART is looking at an aquisition of a retailer in Australia...Coles comes to mind, only because they shed some units and seem attractive from a price point of view. WOW is the only other option, which has a business unit similar to thiers. But other than that who else is there really?




Metcash, David Jones, The Reject Shop maybe?

thx

MS


----------



## Sean K (31 July 2006)

*Re: Next Merger or Takeover (your guesses)?*

MAH may be taken by one of the larger mining contractor/engineer companies. This has been rumoured for a while.


----------



## michael_selway (31 July 2006)

*Re: Next Merger or Takeover (your guesses)?*



			
				kennas said:
			
		

> MAH may be taken by one of the larger mining contractor/engineer companies. This has been rumoured for a while.




Which "larger mining contractor/engineer companies" u think?

thx

MS


----------



## Sean K (31 July 2006)

*Re: Next Merger or Takeover (your guesses)?*

UGL, WOR or DOW. 

Just plucks really though. 

The theory is that with the current tighness in the labour market and dearth of mining equipment availability the only way to really grow it to bolt on companies with already good contract books and integration synergies. 

I'm actually surprised there hasn't been more M&A in the mining services sector. Perhaps they've all just been too busy lapping up all the work they've ben getting the past 3 years.


----------



## Sean K (31 July 2006)

*Re: Next Merger or Takeover (your guesses)?*

Must add, I've held MAH for a year or so waiting for this to happen!


----------



## doctorj (31 July 2006)

*Re: Next Merger or Takeover (your guesses)?*



> I'm actually surprised there hasn't been more M&A in the mining services sector. Perhaps they've all just been too busy lapping up all the work they've ben getting the past 3 years.




Good call.  I expect there will be atleast one announced in the near future.  Certainly overdue given the nature of the industry.


----------



## Kipp (31 July 2006)

*Re: Next Merger or Takeover (your guesses)?*



			
				kennas said:
			
		

> Must add, I've held MAH for a year or so waiting for this to happen!



Yes- they are a sweet company with a great track record in the past few years.  How come you have never posted on the MAH thread (last I checked it was just me and Richkid).  I don't know how such a great company has been overlooked by the ASF!


----------



## Sean K (1 August 2006)

*Re: Next Merger or Takeover (your guesses)?*

Hi Kipp,

I've considered MAH to just be a steady investment play with no big exploration upside like the PMs mainly discussed here. Bit boring compared to a big uranium discovery! Or, the POG and POC skyrocketing. 

Guess I'll see you on the MAH thread in the near future!


----------



## michael_selway (1 August 2006)

*Re: Next Merger or Takeover (your guesses)?*



			
				kennas said:
			
		

> UGL, WOR or DOW.
> 
> Just plucks really though.
> 
> ...




Yep ic, what about LEI, TSE, PCG, BOL mergers possibly as well?

thx

MS


----------



## 3 veiws of a secret (1 August 2006)

*Re: Next Merger or Takeover (your guesses)?*

RE: UGL I followed this share for many years,from the lows @ 67 cents to today . UGL without question has bulldozered others up ,it's plucked some feathers in OZ and is plucking in Asia.Who they take over next, heaven knows but I see DOW as a possible target . Traders who have serious gilt edged bank accounts should *seriously* look at UGL.


----------



## Sean K (1 August 2006)

*Re: Next Merger or Takeover (your guesses)?*

Well done 3 views, UGL has been a great pick. 

For a stag profit it's better to be the prey though. 

DOW a target? Hmmm. I have held DOW for a while but not considered it a target. Has come off recent all time highs and has been upgraded by some brokers due to relative price movements. PE of around 16 is very cheap compared to UGL or WOR. Perhaps there's something there.....I hope so!


----------



## 3 veiws of a secret (1 August 2006)

*Re: Next Merger or Takeover (your guesses)?*



			
				kennas said:
			
		

> Well done 3 views, UGL has been a great pick.
> 
> For a stag profit it's better to be the prey though.
> 
> DOW a target? Hmmm. I have held DOW for a while but not considered it a target. Has come off recent all time highs and has been upgraded by some brokers due to relative price movements. PE of around 16 is very cheap compared to UGL or WOR. Perhaps there's something there.....I hope so!




I was only including DOW because of the related synergies,nothing more .For UGL has that umbrella policy that whatever it swoops down onto ( ie takeovers) ,its quarrie is pidgeon holed accordingly .....that's why I refer to UGL as a sort of Westfarmers.
My only concern is UGL has never seemed to attract bad news! Cometh the day it looses a tender! then perhaps DOW will swoop!!!!! GULP!


----------



## Halba (2 August 2006)

*Re: Next Merger or Takeover (your guesses)?*

Downer EDI was mentioned as a takeover target for Leighton Holdings (LEI)

Its performance has been disappointing, as has the market as a whole. But that type of industry is good and lots of potential for acquisitions


----------



## nizar (2 August 2006)

*Re: Next Merger or Takeover (your guesses)?*

There will be a merger/takeover btw EVE and OMC...IMO...

They both have uranium resources in Kariba in close proximity and both aim to be mining within 18-24months, so some sort of corporate play could be on the cards there...


----------



## Sean K (8 August 2006)

*Re: Next Merger or Takeover (your guesses)?*

Barrick Gold out tis am stating they are after acquisitions in the Asia Pacific with 2m oz or more. Puts NCM and LHG clearly on radar. These two stocks should do ok today.


----------



## michael_selway (9 August 2006)

*Re: Next Merger or Takeover (your guesses)?*



			
				kennas said:
			
		

> UGL, WOR or DOW.
> 
> Just plucks really though.
> 
> ...




Speaking of DOW

what happened today?

thx

MS


----------



## Sean K (9 August 2006)

*Re: Next Merger or Takeover (your guesses)?*

Reported a net loss of $25m yesterday due to the Iluka Mineral Sands project fiasco. Revenue of $4.7b and underlying profit $138m. 

I have held DOW for about 3 years (ave cost $3.80ish) and ridden it from the lows to recent high of $9.50ish. Was thinking about buying more recently during the correction. Few! 

I tried to dump it all this am at $7.00, but alas, no where near it. Paper gains diminishing fast.

This is a knee jerk reaction. Iluka is a one off. I hope. I'm holding for now.


----------



## Sean K (9 August 2006)

*Re: Next Merger or Takeover (your guesses)?*

Perhaps DOW will be a takeover now?? None of the senior management are left to fight it. 

I reckon today's 30% drop was an overreaction and have taken a bold punt and bought a few more this afternoon expecting a bounce of some sort tomorrow. 30% drop for a $2.3b + company is a knee jerk.

I think there will at least be a dead cat pending further information.


----------



## TjamesX (9 August 2006)

*Re: Next Merger or Takeover (your guesses)?*

I'm going to put my tip in....

BOL to have a tilt at PCG

BOL have just released record profits and have stated they are in the acquiring mood. PCG is a perfect complement for their business with good overseas exposure. 

Personally as a PCG holder I hope that they don't as I believe PCG is undervalued.....

Cheers,
TJ


----------



## dubiousinfo (9 August 2006)

*Re: Next Merger or Takeover (your guesses)?*

It would be hard to see BOL go after PCG. Crane hire & saffold hire are like chaulk & cheese. I think there would be other targets for BOL that would be more complimentary to their business.


----------



## TjamesX (9 August 2006)

*Re: Next Merger or Takeover (your guesses)?*



			
				dubiousinfo said:
			
		

> It would be hard to see BOL go after PCG. Crane hire & saffold hire are like chaulk & cheese. I think there would be other targets for BOL that would be more complimentary to their business.




Fair enough - I thought BOL's hiring was more varied than cranes, but having a look at their website it appears that's pretty much all they do. However they do have similar customers and operate in similar industries..... From BOL's perspective I would have thought PCG could offer diversification (both in terms of type of equipment hired and overseas exposure)


----------



## Profitseeker (10 August 2006)

*Re: Next Merger or Takeover (your guesses)?*



			
				kennas said:
			
		

> Barrick Gold out tis am stating they are after acquisitions in the Asia Pacific with 2m oz or more. Puts NCM and LHG clearly on radar. These two stocks should do ok today.




and BDG. I read that larger companies are sniffing around so they can increase their resource levels.


----------



## Sean K (10 August 2006)

*Re: Next Merger or Takeover (your guesses)?*

Profit, 

Agree *BSG * another that has a very significant resource but do they have over 2m oz at Eaglehawk and Kangaroo Flat? I looked at their last anns but couldn't find a total resource base.

Other miners that might be on the radar:

*AGC * now has over 6m oz with the Matabe project having 5.3m oz alone and a significant new find at Wiluna.

*EMP * has nearly 9m oz in it's 3 main projects.

*CTO's * Charters Towers inferred resource is over 10m oz.

*IRN * has 14.6m oz in the Tampakan project in Phillipines. However, Xstrata have the option to acquire a 62% stake in this excisable in Sep.

Note: I hold NCM, LHG, AGC and IRN.


----------



## blobbob (10 August 2006)

*Re: Next Merger or Takeover (your guesses)?*

CRK - Carrick gold another one 2.2moz @ 2.4g/t near kalgoolie,


----------



## Sean K (16 August 2006)

*Re: Next Merger or Takeover (your guesses)?*

Read in the Fin this am that rumours were about that HSP were under the microscope of a private equity firm. Might explain the recent strength in the sp.


----------



## noirua (16 August 2006)

*Re: Next Merger or Takeover (your guesses)?*

Next bid: possibly Wesfarmers for Felix Resources.


----------



## Sean K (22 August 2006)

*Re: Next Merger or Takeover (your guesses)?*

1005  [Dow Jones] Entire Australian resource sector could be picked off by global corporates in next two years, says Southern Cross Equities director Charlie Aitken. "The refusal by the equity market to price any form of structural change in long-term commodity prices is making the entire sector vulnerable to low-balled cash takeovers. Says Minara (MRE.AU), Kagara (KZL.AU), Alumina (AWC.AU), Oil Search (OSH.AU), Western Areas (WSA.AU), Iluka (ILU.AU) "sitting ducks". Adds low valuations of BHP (BHP.AU), Rio Tinto (RIO.AU) could make them vulnerable to takeover. (DWR)


----------



## Realist (24 August 2006)

*Re: Next Merger or Takeover (your guesses)?*

I'm thinking another stronger bid for MTN will eventuate soon.

And AMC as well.  

We'll see...


----------



## NettAssets (24 August 2006)

*Re: Next Merger or Takeover (your guesses)?*

WES

Some restructure of wesfarmers energy and the divestment of the coal mining opp. into a seperate entity - looks like they are making some room for changes.
Changes in Management too as Mr Robb goes to Iluka Resources. 
I think that probably puts paid to the idea I had that they may pick up a small resources Co because I think that would have been sufficiently attractive for Peter to remain.
Look out for another energy aquisition - More gas?
is OSH too big for them to swallow?

John


----------



## binginbarrel (26 August 2006)

*Re: Next Merger or Takeover (your guesses)?*

*JMS* 
Jupiter Mines who have a diggings on Mt Ida in WA
Tipped to merge with *IGC* International Goldfields Limited

Share price for JMS in mid September tipped to reach .35cents.


----------



## doctorj (6 September 2006)

*Re: Next Merger or Takeover (your guesses)?*



			
				doctorj said:
			
		

> I expect there to be action over at Wesfarmers - they're facing a tough period to maintain their crown of market darling so I expect them to start making some moves.






			
				doctorj said:
			
		

> Other possibilities include expanding production of Wesfarmers Energy or buying another insurer to grow that side of their business.




Told you so.  Check out today's announced $700mill takeover bid for OAMPS. http://www.news.com.au/business/story/0,23636,20359155-462,00.html


----------



## Ken (30 September 2006)

*Re: Next Merger or Takeover (your guesses)?*

what about iag?

on no substance integra mining


----------



## YOUNG_TRADER (5 October 2006)

*Re: Next Merger or Takeover (your guesses)?*

STO trying to buy QGC for $606m anyone pick that?


----------



## scsl (18 December 2006)

*Re: Next Merger or Takeover (your guesses)?*

Looks like there'll be no end to this private equity madness anytime soon! Article in The Age today talks of a change in capital gains tax law for foreign investors - they're now fully exempt! It also talks (towards the end of the article) of a structural change in the sharemarket because of the continuing frenzy of takeovers.



> *New tax break may trigger a takeover tsunami*
> Malcolm Maiden
> December 18, 2006
> 
> ...


----------



## michael_selway (23 December 2006)

*Re: Next Merger or Takeover (your guesses)?*

Will MND or MFS be taken over one day?

thx

MS


----------



## Glenhaven (3 April 2007)

I suggest that this decade will go down in history as the period of the takeover. It may be private equity of other, it doesn't matter I think there will be plenty more. 

So my research is directed into likely targets. Can anyone suggest targets?

Obvious suggestions are the media stocks, clearly CGJ are going and Forsters appear ripe.

Others??


----------



## CanOz (3 April 2007)

Glenhaven said:


> I suggest that this decade will go down in history as the period of the takeover. It may be private equity of other, it doesn't matter I think there will be plenty more.
> 
> So my research is directed into likely targets. Can anyone suggest targets?
> 
> ...




There is some suggestion that oil Co.s may be the next wave, Bloomberg...Hope someone goes for BPT.

Cheers,


----------



## doctorj (3 April 2007)

CanOz said:


> There is some suggestion that oil Co.s may be the next wave



I felt the insurance industry was due (see post back on 30 July) and since we've seen Suncorp, Promina, OAMPs and a few others merge/TO.  I felt the same with Wesfarmers (OAMPs, Coles, Alinta?).  And I'm inclined to agree here as well.

And I think it's true at both ends of the market.  The Australian market seems to have priced the explorers (big and small) quite cheaply.  Woodside looks reasonably cheap when priced on its 2p reserves.  

The same could be said for a lot of little companies.  The issue with these is that they're not big enough to attract much international interest but still have some great income streams and potential laden assets, so TOs from JV partners or mergers between Australian juniors is possible.  PSA, ROC, TAP, HZN, NWE, AZZ & AED amongst many others all meet this criteria.  The likes of PCL and FAR are also quite interesting as they hold large stakes in acerage that is significant both in size and potential (1bbo+) - an aggressive player like Tullow PLC could come into the picture here sooner or later.


----------



## redandgreen (5 April 2007)

doctorj said:


> I felt the insurance industry was due (see post back on 30 July) and since we've seen Suncorp, Promina, OAMPs and a few others merge/TO.  I felt the same with Wesfarmers (OAMPs, Coles, Alinta?).  And I'm inclined to agree here as well.
> 
> And I think it's true at both ends of the market.  The Australian market seems to have priced the explorers (big and small) quite cheaply.  Woodside looks reasonably cheap when priced on its 2p reserves.
> 
> The same could be said for a lot of little companies.  The issue with these is that they're not big enough to attract much international interest but still have some great income streams and potential laden assets, so TOs from JV partners or mergers between Australian juniors is possible.  PSA, ROC, TAP, HZN, NWE, AZZ & AED amongst many others all meet this criteria.  The likes of PCL and FAR are also quite interesting as they hold large stakes in acerage that is significant both in size and potential (1bbo+) - an aggressive player like Tullow PLC could come into the picture here sooner or later.




I'd be adding BPT and OSH to that list as well......


----------



## redandgreen (5 April 2007)

KIM this rumour has been around for a while
Gem Diamonds to takeover KIM...........


----------



## the barry (5 April 2007)

An obvious one to watch is Rinker. Cemex got regulatory approval from the take over panel in the states today, share jumped 40 odd cents on the news. I would think we will know within the next week what cemex's intentions will be, or if another party will step in.


----------



## zed327 (5 April 2007)

AGS by PDN

PDN allready have an JV with Quasar in the same area.

QLD JV with SMM looks like it's bogged to the axles with Beattie.

 PDN won't sit by and watch others start producing in AUS.


----------



## bigdog (7 May 2007)

BHP, RIO, STO, ORI, TAH, ZFX, WPL, CGJ per below

https://www.aussiestockforums.com/forums/showpost.php?p=154598&postcount=55

A report from Citigroup late last week rated the top ten Aussie companies most vulnerable to a takeover from private equity or a ompetitor. "Resources giants BHP Billiton and Rio Tinto have topped a list of Australian companies most vulnerable to private equity takeovers. The rankings were released this week by Citigroup Research, which also included energy firm Santos, explosives maker Orica, leisure group Tabcorp, miner Zinifex, retailer Coles Group and Woodside Petroleum in its top 10 most vulnerable.

IMO my takeover targets include AGS, AWC, BHP. BLD, MFS, IPL, JBM, KZL, OGD, OXR, RIO. STO, TEL, WPL

Please add your suggested takeover targets or mergers?

Do your own research on potential takeover targets!!


----------



## bigdog (8 May 2007)

Todays SMH
http://www.smh.com.au/news/business...-a-record-close/2007/05/07/1178390184139.html

BHP rumour pushes Market to a record close
May 7, 2007

Australian stock market continued its record run today as reports from market analysts suggesting global miner BHP Billiton could take over rival Rio Tinto sent both stocks surging.

While Rio Tinto and BHP Billiton shares drove the market upwards, shares in national carrier Qantas Airways remained in a trading halt, pending further announcements in the wake of Airline Partners Australia's failed $11.1 billion takeover bid for the airline.

ABN Amro Morgans private client adviser Craig Walker said the market was awash with merger and acquisition talk with BHP Billiton and Rio Tinto were the main drivers today.

"This (BHP Billiton and Rio Tinto) is the next target, I suppose,'' Mr Walker said.


----------



## ozambersand (8 May 2007)

I have just read scsl's post on the previous page which included a long piece from the Age in December last year. The article starts:



> New tax break may trigger a takeover tsunami
> Malcolm Maiden
> December 18, 2006
> 
> ...




The full article is definitely worth re-reading as it explains why the Australian Investment managers don't want to sell eg AFIC are quoted in today's Sydney Morning Herald as saying they don't want to sell their stake in Rinker as "They will have a huge tax bill".

It certainly puts a different perspective on things and does make it an unequal playing field. The argument that it just puts us in line with overseas laws is a bit rich.

I note that it was Labor that helped it get through the Senate as the Greens, Democrats, Family First and Barnaby Joyce all voted against it, so looks like it is here to stay. 

From the Citigroup list, size is not a deterrant, so merging to become bigger doesn't seem to be an option to avoid the takeover.

Perhaps the companies want to be taken over by private equity?

Anyone seen Citigroup's full list? I have only seen a few mentioned but I gather the list had about 50 companies????

Would I be correct that the most obvious targets are those whose share price is down at the moment and they have a steady income stream and not too much debt.

Fosters (FGL) and Brambles (BXB) fit that category.


----------



## ozambersand (8 May 2007)

Added to the above I would put in COA by private equity. Wish I had bought in at the start of April when I identified it as undervalued. It has gone up 30% since!


----------



## bigdog (9 May 2007)

TAH TABCORP HOLDINGS 

Rumour in todays Australian
http://www.theaustralian.news.com.au/story/0,20867,21672164-5001942,00.html

Takeover rumours dog gambling stocks
SHARES NEWS 
Gaming companies are an attractive target, James Dunn reports

May 09, 2007 

IN a sharemarket awash with cash and rumour, no stock is safe from suspicion that it may be next in line for a takeover.

Most recently it has been the turn of gaming industry heavyweight Tabcorp Holdings, which surged to a record high on the back of such speculation. 

Tabcorp doused the rumours with a statement to the Australian Securities Exchange that it had not been approached, but the sector -- like most of the market -- remains on alert for the slightest hint of merger and acquisition activity or private equity fund interest in a stock.


----------



## bigdog (9 May 2007)

Todays SMH takeover by ALCOA for Alcan

AWC ALUMINA 

http://www.smh.com.au/news/business...-faces-35b-bill/2007/05/08/1178390304511.html

Alumina sitting pretty but faces $3.5b bill
May 9, 2007

ALCOA's surprise $US33 billion bid for Alcan could have major implications for Alumina.

The Australian company owns 40 per cent of the Alcoa World Alumina and Chemicals business in a joint venture with Alcoa. Under their agreement, Alumina has the right to acquire a 40 per cent share of the bauxite and alumina assets Alcoa would gain from a takeover of Alcan.

"We gave Alumina Ltd a heads up on this [Alcan] deal," Alcoa chief executive Alain Belda said in a conference call with analysts. "Our assumption is they will participate with us."

Alumina told the stock exchange an Alcoa-Alcan merger could deliver "significant benefits" to its shareholders. But the benefits could prove costly in the short term, given Macquarie Equities estimated Alumina would have to pay $3.5 billion for its share of the Alcan assets. Alumina recently completed a $250 million off-market share buyback.

"Given the current balance sheet capacity of Alumina, that suggests a material equity raising towards the end of the year is not out of the question," Macquarie said.

But Macquarie and ABN Amro analyst Rob Clifford said the acquisition of a portion of Alcan's upstream assets would be positive for Alumina, regardless of a possible equity raising. Given there could be rival bidders for Alcan, other analysts said yesterday's events could actually increase the chance of Alcoa bidding for Alumina.

"If Alcoa is unsuccessful with Alcan, then I think there's a high probability they would look at Alumina," UBS analyst Glyn Lawcock said.

Deutsche Bank pointed out Alcoa's offer for Alcan might be meant as a distraction that would allow Alcoa to launch a "long-awaited" bid for Alumina.

Alumina shares closed 25c higher at $7.58.

Jamie Freed


----------



## bigdog (9 May 2007)

WA Business report

Stocks hit new highs, propelled by resources takeover talk 
9-May-07 by AAP
http://www.wabusinessnews.com.au/en...w-highs-propelled-by-resources-takeover-talk-

Report includes:
Australian stocks have closed at new highs, as takeover talk surrounding mining giants BHP Billiton and Rio Tinto whipped the market into a frenzy.

Market speculation is suggesting the world's biggest miner BHP Billiton may be considering a bid for its rival, worth some $122 billion or more.

"Certainly when there's rumours of takeover that puts a fire under the whole of the market - when this happens it spreads over to a lot of stocks in the resources sector."

Other resources stocks that enjoyed the read-across included Alumina which climbed seven cents to $7.65, Zinifex which firmed 49 cents to $17.88 and Oxiana which picked up eight cents at $3.51.

At 1621 AEST the price of spot gold in Sydney was $US2.10 softer at $US685.7 per fine ounce.

But that didn't stop miners of the precious metal from benefiting from the takeover talk in the sector, Lihir adding three cents to $3.10 and Newcrest advancing 23 cents to $23.16.


----------



## bigdog (16 May 2007)

Steelmaker may be a target, says Adams
http://www.theaustralian.news.com.au/story/0,20867,21738496-643,00.html

Steelmaker may be a target, says Adams
Andrew Trounson 
May 16, 2007 

BLUESCOPE Steel's soon-to-depart chief executive Kirby Adams said yesterday that navigating a rapidly consolidating global steel sector would be a key challenge for his successor and that the company itself was a potential target.

"Externally, the big issue confronting the company is what is happening in the global steel industry and the consolidation that is going on there," Mr Adams said yesterday. 

With the Australian Competition and Consumer Commission set to rule next week on whether to approve a carve-up of Smorgon Steel between BlueScope and OneSteel, Mr Adams said local consolidation was one way of striving to stay globally competitive. 

He said that the Australian industry was tiny by global standards, consuming about 8million tonnes a year, compared with record annual global demand of 1.2 billion tonnes. 

Mittal's $US44 billion takeover of European steel giant Arcelor last year has sparked a round of consolidation in the sector. India's Tata steel this year acquired Corus Steel for $US13 billion, while US Steel has forked out $US2.1 billion for specialist steel products maker Lone Star Technologies. 

"Clearly we are seeing consolidation in the industry in global terms at an unprecedented rate," Mr Adams said. 

BlueScope is expected to name a successor at its full-year results in August, and Mr Adams is scheduled to step down in October. All internal candidates have been interviewed by the board, with the leading contenders including Australian manufacturing chief Brian Kruger, North American boss Lance Hockridge and chief financial officer Paul O'Malley. But an external candidate has not yet been ruled out. 

The ACCC is due to make its decision on May 23, with the key risk to the Smorgon deal being if it decided import competition would be insufficient to counteract OneSteel becoming dominant in long steel products like rods, bars and wire.


----------



## The Mint Man (16 May 2007)

What about *OSH*? 
Since the start of the month its share price has jumped about 10% (from around $3.55 to $3.97 right now) making its run for the $4.00 mark.... and its looking like it will get there soon.
After the sale of assets to AGL, OSH is cashed up and they have plenty of good oil and gas projects going on... some of them JV's with big names such as Exxon Mobile. Maybe they are taking a glance?
Anyway, from what I can tell nothing significant (of late) has happened for its price to jump this far. So possibly were seeing investors pushing the price up incase of a takeover? 
  

Cheers


----------



## alankew (16 May 2007)

At current prices i think that PDN has some potential as a T/O target especially with their holding in DYL and also Summit.Good opportunity with U prices soaring at the moment and destined to go higher in the short term


----------



## imajica (16 May 2007)

as AED comes into production soon with a big increase in reserves - I can see one of the majors eyeing the prize - market cap is still less than 500 million - cheap as chups


----------



## PureCoco (16 May 2007)

Previous Article | Back to News | Next Article 
DJ ANZ Moves To Compulsory Acquisition Of E-Trade Australia16/05/2007 10:11AM AEST  
SYDNEY (Dow Jones)--Australia & New Zealand Banking Group Ltd. (ANZ) said Wednesday it had acquired more than 90% of E-Trade Australia Ltd. (ETR.AU) and will move to compulsory acquisition of the remaining shares in the online broker. 

ANZ, which has bid A$4.30 a share for E-Trade, earlier extended its offer period to May 25, to give shareholders the opportunity to accept the bank's offer. ANZ now has 91.75% of shares in E-Trade. 

E-Trade shareholders who don't accept the offer and whose shares are compulsorily acquired won't receive payment for at least four weeks after the compulsory acquisition notice is lodged with the Australian Securities & Investments Commission, ANZ said.


----------



## bigdog (17 May 2007)

http://www.theaustralian.news.com.au/story/0,20867,21738889-5005200,00.html

Xstrata trumps bid for LionOre
Andrew Trounson 
May 16, 2007 

FRESH takeover speculation is set to sweep Australia's nickel mining sector after Swiss giant Xstrata raised its bid for Canadian miner LionOre to $6.7 billion.

The all-cash bid trumps Russian giant Norilsk's competing bid by $947 million, and is 35 per cent above Xstrata's opening offer launched in March. 

Xstrata chief executive Mick Davis is well-known for being an aggressive bidder as he backs the commodities boom. His move could give further encouragement to other global miners to become more aggressive. 

Takeover speculation is sweeping the global resources sector as miners seek to buy scarce mining assets to capitalise on the metal price boom. 

Aluminium giant Alcoa this month launched a $US28 billion ($34 billion) bid for Canadian rival Alcan that could yet attract a counter-offer from the likes of BHP Billiton or Rio Tinto. 

Meanwhile, Rio Tinto itself is being tipped as a target, as is Anglo American. 

Investment bankers are known to be scouting for targets in the Australian nickel sector. There is speculation that nickel miners such as Jubilee, Sally Malay and Western Areas could be under the microscope. 

Minara Resources, operator of the Murrin Murrin mine, might be less of a target given that it is 50 per cent owned by Swiss commodities giant Glencore, although it could become a target for Xstrata given that Glencore controls about 40 per cent of Xstrata. 

LionOre has significant nickel assets in Western Australia, including the Black Swan and Lake Johnston operations, as well as the Honeymoon Well nickel project, a feasibility study on which is due by mid-year. 

It also owns mines in South Africa and Botswana and has forecast nickel production this year at 44,000 tonnes. 

LionOre has a listing in Australia that it was due to cancel next month. Share trading was halted yesterday ahead of the announcement and the stock last traded at $25.98. 

Xstrata is the world's fourth largest nickel producer and last year beat off competition from US copper giant Phelps Dodge to buy Canadian nickel major Falconbridge for $22 billion. 

LionOre's board has backed Xstrata's higher offer. Xstrata has raised its offer to $C25.00 a share, up from $C18.50 and ahead of Norilsk's $C21.50. 

LionOre shares have risen this year by almost 79 per cent as nickel prices have more than doubled in the past year to $US18.80 a pound. 

Earlier, LionOre reported a massive rise in first-quarter profit to $US148.3 million from just $US13.2 million a year ago. Sales rose to $US525.4 million from $US126.7 million.


----------



## billhill (23 May 2007)

More rumors of takeovers in the resources sector. This time BHP, RIO and CVRD are touted as being possible bidders for Alcan over the current bid from alcoa.

http://www.canada.com/nationalpost/...=62eb2b41-8dd0-42fd-b56c-60125e260708&k=99592


----------



## bigdog (4 June 2007)

http://www.news.com.au/heraldsun/story/0,21985,21841656-664,00.html

Great Southern target
George Lekakis

June 04, 2007 12:00am
AUSTRALIA'S managed investment scheme sector is facing a bout of mergers and takeovers following the slide in the share prices of leading players.

BusinessDaily revealed last week that at least two private equity firms were running the ruler over Victorian-based agribusiness investment group, Timbercorp. 

Now, the Perth-based Great Southern Limited has also been linked to takeover speculation. 

An industry source told BusinessDaily that Great Southern, which is currently trading on an earnings multiple of less than 6 times earnings, has entered preliminary merger talks with a private equity group. 

"The talks are at an early stage but have been going on for more than a week," the source said. 

The shares of leading agribusiness investment companies such as Timbercorp and Great Southern have more than halved in the past year since the Federal Government announced plans to remove tax breaks on investments in managed schemes covering non-forestry plantations such as olives and almonds. 

Trading in Great Southern scrip has intensified in the past three months as the share price fell below $2 -- its lowest level in more than three years.


----------



## krisbarry (4 June 2007)

WGP could possibly be in the near future.

All I need to say is BP and Rio Tinto:

Read the article below and see what you think.

http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00723579


----------



## bigdog (15 June 2007)

http://www.theage.com.au/news/busin...s/2007/06/14/1181414464393.html?page=fullpage

Merger talk fires Woodside shares
Barry Fitzgerald
June 15, 2007

WOODSIDE shares have raced to an 11-month high in response to speculation that it will merge with London-based BG Group, creating a $90 billion global gas giant.

While firmer oil prices and yesterday's broadly based bounce in equity markets helped, it was the speculation on the possibility of a merger with BG that fuelled the $1.84, or 4.3 per cent, rise for Woodside to $44.52 a share, valuing the Perth-based group at $30 billion.

The rise was despite the broker's report that triggered the speculation emphasising that it was looking at the merits of a merger between the two as a concept only.

Woodside has been considered off limits to foreign groups since federal Treasurer Peter Costello banned Shell's $10 billion bid in 2001 on national interest grounds. Shell owns 34 per cent of Woodside and has long been touted as a potential buyer of BG, valued by the market at $63 billion.

The suggested pathway to gain clearance from Canberra in any bid for Woodside involves the creation of a dual-listed company under which Woodside's identity, Australian base and tax domicile would be preserved. A combined BG-Woodside could challenge for leadership of the global LNG industry, albeit with Shell as a major shareholder.

After the Canberra ban on a Shell takeover, Woodside held talks with BHP Billiton and Santos about possible mergers, which in the case of BHP would have been limited to a deal involving its oil and gas division. Nothing came of those talks.

Woodside has grown to be an annual producer of 68 million barrels of oil equivalent (2006), with output this year forecast at 72-78 million boe. BG is a bigger company, with production in the first quarter of 58.2 million boe.

Woodside increased its exploration and development spending this year to $3.6 billion, with work starting on its Pluto LNG project. It also has aggressive development plans for the Browse and Sunrise projects.


----------



## bigdog (20 June 2007)

http://www.theage.com.au/news/busin...t/2007/06/19/1182019115969.html?page=fullpage

Woodside ignites on talk of renewed Shell interest
Dinakar Sethuraman
June 20, 2007

WOODSIDE Petroleum shares rose to their highest in a year after a report that 34 per cent shareholder Royal Dutch Shell might bid for Australia's second-biggest oil and gas producer.

The stock of the Perth-based company rose as much as $1.23, or 2.7 per cent, to $47.18 on the stock exchange, a 52-week high after LNG Intelligence said Shell might try again to buy the rest of the company.

Woodside shares closed yesterday at $46.85, a full-day gain of 90 ¢.

Woodside spokesman Roger Martin declined to comment.

The Government in 2001 prevented Shell from increasing its stake in Woodside, citing national interest.

Woodside is the operator of the North-West Shelf Venture that exports about 12 million tonnes of liquefied natural gas a year. It is also proposing to spend as much as $10 billion to develop its Pluto LNG project off Western Australia.

Shell might not act on any proposed offer before the coming federal election, LNG Intelligence said. Shell might be able to ship more LNG to the US if it gained control of Woodside, the report said.

Last week, Britain-based broker Cazenove Group said that a merger of BG Group Plc and Woodside might be of substantial benefit to both companies.

LNG is natural gas chilled to liquid form for transportation by tanker to destinations not connected by pipeline.


----------



## bigdog (25 June 2007)

http://www.theaustralian.news.com.au/story/0,20867,21960213-643,00.html

Jubilee a nickel-plated target
Kevin Andrusiak 
June 25, 2007 

JUBILEE Mines' nickel dreams continue to grow at its Alec Mairs deposit, as sources say the company is becoming too big to ignore as a possible BHP Billiton takeover play.

BHP operates a nearby mill that is running well under capacity and, in the long term, it has its eye on ensuring a reliable inventory of high-grade nickel ore. 

Goldman Sachs JB Were materials analyst Ian Preston has forecast net profit for Jubilee of $193.8 million this fiscal year and $162.2 million next financial year, based on a deterioration of the nickel price. 

But Mr Preston believes that global shortages of nickel might one day mean Jubilee becomes a takeover target. 

"We are also very cognisant of the paucity of high-grade nickel sulphide ore bodies globally and the increased focus of the majors for concentrate feed for smelters," Mr Preston wrote in a recent report to clients. 

Drilling continues to show the Alec Mairs 5 deposit, adjacent to Alec Mairs 2 and 500 metres south of the Cosmos Deeps mine, has the potential to raise Jubilee's nickel inventory to around 400,000 tonnes of metal. "These new results confirm Jubilee's belief that the wider Alec Mairs Complex is an emerging large mineralised system with potential for multiple substantial sized nickel sulphide deposits," Jubilee announced earlier this month. 

Bell Potter analyst Stephen Thomas said Jubilee was on track for a record first-half result and the AM5 discovery had the potential to double Jubilee's nickel reserves. "We estimate the AM5 discovery has sufficient size, grade and accessibility to lift Jubilee's production profile to around 50,000 tonnes per annum," Mr Thomas said. 

"This is a major value and earnings uplift event and further enhances the massive corporate appeal of JBM." 

He believes Jubilee could return a net profit after tax of $211.2 million this financial year and $320.4 million in 2007-08. He has put a 12-month price target of $23.08 on Jubilee stock. 

One hope for Jubilee is that BHP Billiton might find it too difficult to ignore its near neighbour in the West Australian Leinster region. 

Any takeover play would have to appease Jubilee founder Kerry Harmanis, who controls a 15.2 per cent stake in the company. 

But he has always maintained that he will sell his stake if the price is right. 

Sources said BHP's Perserverance mill was being under-utilised and running at only 60 per cent capacity while the mining heavyweight was having problems with magnesium oxide clogging at its Kambalda operations. The Perserverance mill is only 30km south of Jubilee's Cosmos operations while the ore could also be blended and used in the Kambalda smelter. "They will soon have about $15 billion worth of nickel. That's why BHP will find Jubilee too hard to ignore," the industry source said. 

"It never made sense before when Jubilee only had 110,000 tonnes of nickel inventory. 

"I haven't heard anything yet about a BHP approach, but you would have to think they are quietly running the ruler over the company. 

"Why would they like any other company? Jubilee has been the best exploration company Australia has seen over the past 10 years."


----------



## bigdog (29 June 2007)

I monitor potential targets on a daily basis including the special trades each morning before the start at !0:00 AM

Normally there are only a few trades and always BHP

Today's action is significant in $ and the number of companies that I watch:

Any idea who is buying???


----------



## bigdog (4 July 2007)

http://www.theage.com.au/news/busin...e/2007/07/03/1183351209410.html?page=fullpage

Last paragraph for Age article on Citi:
The top-four anticipated deals in the region were between Australian companies, including a rumoured $1.4 billion bid for Ausdrill by an unnamed suitor, Transfield's bid for GRD, the tilt for Orica by a group of private equity firms and an unidentified approach to Great Southern.

DOMINANCE in Europe has made the world's biggest bank, Citi, the world's top financial adviser to mergers and acquisitions.

In the first six months of this year, Citi (formerly Citigroup) advised on deals worth $US814 billion ($A950.3 billion), according to rankings by research house mergermarket. This was more than $US17 billion ahead of No. 2 Goldman Sachs.

------------------------------------------------------------------------------------------------------------------
http://www.theaustralian.news.com.au/story/0,20867,22013583-643,00.html
Local mergers now worth $133bn
Chris Merritt, Legal affairs editor 
July 04, 2007 

TAKEOVER activity in Australia and New Zealand almost doubled in the first half of theyear and is now worth $US114.3 billion ($133 billion), according to Thomson Financial.

Thomson says the deals announced so far this year represent a 99.2 per cent increase over the $US57.4 billion worth of transactions announced in the same period last year. 

Despite the strong growth, mergers and acquisitions in Australia and New Zealand remained a small fraction of the global total. 

Worldwide mergers and acquisitions increased 62 per cent in the first half of the year to reach $US2.7 trillion. Around the world, deals worth $US641 billion were announced in April, making that month the busiest on record. 

Merger and acquisition activity slowed in the second quarter in what Thomson described as more challenging credit conditions and the annual slowdown for the northern summer. 

In Australia and New Zealand, the surge in the value of deals was accompanied by a 20.5 per cent increase in the number of deals - up from 1351 this time last year to 1628. 

The Thomson figures, which were assembled before Wesfarmers' $22 billion bid for Coles, show that the real estate sector accounted for most activity. 

Thomson says the biggest deals so far this year were the $11.4 billion bid for Alinta, the $8.9 billion bid for Orica and the $5.7 billion takeover of Toll. 

Thomson says private equity players continued to play a major role in the global boom in mergers and acquisitions. 

They were involved in global deals worth $US644 billion during the first half of the year - which accounts for 24.3 per cent of overall volume. 

This means the involvement of private equity in global takeover deals increased 95.1 per cent over the same period last year. 

Private equity was an even stronger force within the US. 

These players accounted for 36 per cent of overall US takeover activity in the first half of the year and 40 per cent of US deals in the second quarter.


----------



## Nicks (23 July 2007)

GTP - it is one of the few stocks with top 20 Dividend returns that is not owned by a Banks Investment arm.


----------



## insidetrader (27 July 2007)

coates hire

you heard it here first...

a bidding war is shaping up between various PE firms


----------



## redandgreen (9 August 2007)

DYL ...full t/o by PDN


----------



## redandgreen (9 August 2007)

OXR full t/o of TOE after the dust settles with NEL


----------



## bvbfan (10 August 2007)

redandgreen said:


> OXR full t/o of TOE after the dust settles with NEL




That is rediculous, OXR spun of TOE at 25c, they wouldn't have bothered if they had any interest in developing the uranium themselves.
I guess if TOE find a major discovery OXR would go in since they can block any attempt with the holding.

NEL is a better prospect that TOE at this stage even allowing for WA no uranium mines stance


----------



## michael_selway (11 August 2007)

*Re: Next Merger or Takeover (your guesses)?*



Julia said:


> michael_selway said:
> 
> 
> > Hi we all know about the TOL & PRK takeover, RCD & Allco merger, Mayne Demerger etc etc
> ...




Hi Julia

Wellm yes it was only a hypothetical at the time 

thx

MS


----------



## Nicks (15 August 2007)

Does anyone have any thoughts or insight on to GTPs release to the market 2 months ago that it was being solicited for a takeover?

Maybe a merger between them and TIM or Auspine possible? or perhaps a Macquarie target as they are effectively a quality investment product.


----------



## YELNATS (15 August 2007)

*Re: Next Merger or Takeover (your guesses)?*

Originally Posted by Julia  
Quote:
Originally Posted by michael_selway  

What are your guesses for future mergers & takeovers?

Im thinking ADB & BEN merger? Possible?

Any others?

Thanks 

Re ADB & BEN, have you actually heard that this is being discussed, or just taking a hypothetical? It's an interesting thought, but would require some compromise on the part of both in terms of their underlying philosophy.


Julia


michael_selway said:


> Hi Julia
> 
> Wellm yes it was only a hypothetical at the time
> 
> ...




At least we can understand BEN's rejections of BOQ's persistent overtures a little better now.


----------



## wbooo (15 August 2007)

For those of you who dont know corporate express NV (formerly Buhrmann NV) recently had over 5% of its shares purchased by a fund infamous for breaking up companies and selling off the best bits at significant premiums.

Corporate Express Australia, would certainly be considered one of the better bits.  If there was a forced sale, it would open the gate to a possible management buyin or a competitor bid.


----------



## wbooo (15 August 2007)

*Re: Takeover Targets CXP*

CXP Australia could be forcefully sold by Corporate express NV.  

Corporate Express NV mother of Corporate Express Australia, has recently had over 5% of its shares purchased by a fund/investor infamous for breaking up companies with underperforming share prices and selling off the best bits.  

CXP (Corporate Express Australia) is certainly one of the better bits and could be either taken over by a competitor or bought out by its own management team.


----------



## bigdog (14 October 2007)

http://www.news.com.au/heraldsun/story/0,21985,22579637-664,00.html

*Takeover activity to rise*
Article from: Sunday Herald Sun
Anthony Black
October 14, 2007 12:00am

INVESTORS can expect increasing takeover activity as the credit squeeze eases, analysts say.

They say private equity firms as well as listed companies are sniffing out bargains in a market enjoying a resurgence in confidence.

A cut in US interest rates followed by better-than-expected payroll numbers reduced the possibility of the US sliding into recession and stifling global growth.

Mark Goulopoulos, of Tolhurst, said the resources sector was ripe for consolidation, particularly among mid-sized miners as the outlook for commodity prices remained positive.

Mr Goulopoulos said the share price of the target generally rose sharply in anticipation of a possibly higher bid or bidding war.

He said Murchison Metals' bid for Midwest Corporation on Wednesday sent Midwest's share price up 30 per cent soon after it was announced.

Mr Goulopoulos said miners with an identified base metal close to infrastructure appealed to suitors. But, he warned, while a share price could rise on takeover rumours, it could tumble just as fast if facts emerged it was not a target.

SALLY MALAY MINING: Mr Goulopoulos said the nickel producer was benefiting from a nickel price that had more than trebled to $30,000 a tonne in the past three years.

"Nickel is probably one of the most attractive commodities in terms of price," he said.

Mr Goulopoulos said Sally Malay Mining was generating lots of cash and the company was relatively cheap.

"That's what makes it appealing," he said.

INDEPENDENCE GROUP: Mr Goulopoulos said Independence had a 30 per cent stake in the Tropicana gold project in WA, which is promising substantial reserves.

He said a strong gold price appealed to bidders.

Mr Goulopoulos said Independence was generating strong cash flow from its nickel mine and the company was debt free.

OIL SEARCH: Scott Marshall, head of Shaw Stockbroking's industrial research, said Oil Search's highly valued gas resource in Papua New Guinea was attracting immense international interest.

He said the gas assets offered significant production potential of a proven and probable resource, including associated liquids, of almost a billion barrels of oil equivalent.

Mr Marshall said takeover speculation would persist despite the company saying last month that no formal approaches had been made.

AMCOR: Mr Marshall said the fallout from the price-fixing cartel case with Visy left Amcor in a precarious position.

He said Amcor's share price could suffer from companies collectively seeking hundreds of millions of dollars in compensation.

Mr Marshall suggested investors buy Amcor on share price weakness as its global assets held considerable takeover appeal, particularly at a discounted price.

CSR: Mr Marshall said CSR was a "perennial break-up story" and its three divisions, -- sugar, aluminium and building materials -- could be sold as one or separately.

OTHERS: He said the food industry was lining up for consolidation and he suggested keeping a close eye on Goodman Fielder as New Zealand billionaire Graeme Hart's 20 per cent stake was out of escrow and could be sold.

He said Foster's was a possibility if it stumbled and Flight Centre might once again appeal at the right place.

Mr Marshall said property trusts, such as the APN/UKA European Retail Property Group and the Rubicon Europe Trust Group appealed to bidders as they had valuable assets overseas.


----------



## JTLP (30 June 2009)

Now, before I begin I think something needs to be made clear here...if this thread is to have any ounce of surviving and thriving it needs to contain thorough/detailed analysis of why you think a certain co is a T/O target (not just because you think so). Also, I hope some poster's don't mind; but I will be stealing, nay, shedding more light on your valuable postings for here.

I have created this thread (as the title would suggest) in an effort to highlight takeover targets in this distressed market environment. Big players may well be looking to make moves on up and coming juniors and it might be a nice way to bring these juniors to notice.

First stock to look at is: *MEL*


YOUNG_TRADER said:


> Was just looking at MPO and how it sold its NSW Gloucester PEL 285 for $370m to AGL (MPO only had 30% interest)
> 
> PEL 285 had 2P of 180 PJ and 3P of 360 PJ
> 
> ...




Attachment from Kennas - https://www.aussiestockforums.com/forums/attachment.php?attachmentid=29705&d=1240799224 - This highlights MEL's value in the CBM sector for the 2P category

MEL has the cheapest 2P and 3P reserves out of all the CSG player's. It is also a cashed up junior with drilling currently on some very prospective tenements (PEL 13 + Riflebird). Recent acquisitions in the CSG sector (QGC, PES, SGL) also bode well for MEL. Majors would surely still be looking around for juniors for LNG plants.

Dangerous also highlighted some interesting facts today:


Dangerous said:


> It is at an advantage to its QLD peers - CSG to LNG is not proven and still faces signifcant obstacles.  NSW has a pending electricity crisis and CSG use in gas fired power stations is tried and tested...




Feel free to add more...


----------



## Sean K (30 June 2009)

PRU - because I own it. 

And, because it's undervalued in the sector and a few majors have been saying they want to buy some more assets. Also been mentioned in the media several times as a target. And, there's probably going to be more M&A in the West African gold sector. 

Warrick Grigors last comments:



> Investment Perspective: Perseus (PRU) continues to stand out as one of the most significant emerging gold producers due to its resource base (approximately 7 mill oz.) from two projects in West Africa. It is not a company that will suffer from the hiatus in the share price due to lack of news flow in the financing and construction stage of the first project, Ayanfuri. The less advanced Tengela gold project will continue to provide exploration updates from continuous drilling, with an expectation that the million ounces already announced will increase by at least 2-3 times. *We expect continual good news flow, a rerating induced by Northern Hemisphere buying and increasing takeover speculation as the numbers firm up.* Perseus is trading at a 63% discount to our valuation of $2.25 a share. Perseus is our highest conviction gold share. BUY




Been mentioned as a TO target doesn't make it happen though. LGL and NCM have been under the scope of the major majors for about 50 years...

PRU valued at about $20 an ounce at this stage of it's development is pretty cheap on the scale of things..


----------



## skc (30 June 2009)

A few from my basket...

ROC - Roc Oil 
FLX - Felix Resources

They have both been issuing statements about takeover interests in the past 6 months. When there is smoke, there is fire... make your own judgement.

TAH - Tabcorp holding

Rumor has it that it will carved up by Crown (for its casino assets) and Tatts (for its wagering operations). 

RIO - Rio Tinto

A bit from the left field. But BHP could still comeback and make a bid. The recent right offer has replaced RIO's debt with lots of equity. Now BHP can come in and replace some of those expensive equity with their own cheap debt again! Joy to the M&A and capital market bankers.


----------



## gooner (30 June 2009)

The oil sector looks very ripe for takeovers - mainly because they are not making any more oil and it is getting used very quickly. If you believe in peak oil (I do) the price will increase very quickly with huge profits for oil companies, subject to governments bringing in super-profits tax, of course. My picks in this sector for takeover are:

WPL - the biggest pure energy company in Australia. All ready touted in the press that BHP are looking at it

STO - second biggest pure energy company. Used to be takeover proof for legal reasons, but now changed. Great growth prospects in gas sector.

NXS - undervalued due to recent contractual and cash flow problems. Real chance of a predator coming in and taking over.

I hold all three companies


----------



## skc (30 June 2009)

ENE - current price ~$2.02

They announced an indicative offer from Archer Capital in the range of $2.4-$2.8. 

They also have a separate offer for some specific UK assets. This offer is priced at 10.8x full year EBITDA, and will return $1 per share in net proceeds, although only representing 13% of ENE's global generation capacity.

The UK asset offer on the table put ENE in a reasonable bargaining position with Archer. Applying the same EBITDA multiple gives a enterprise value of $1.3B, less debt of $460m, mean equity value of ~$850m. Current market cap is only $310m. 

Note this assumes other company assets are of same quality as the UK ones which may or may not be true, but the margin of safety is there.

See announcement here.

http://www.asx.com.au/asxpdf/20090626/pdf/31j8397fn14fj9.pdf
http://www.asx.com.au/asxpdf/20090622/pdf/31j5dqw9gm6s2k.pdf


----------



## Zurc (30 June 2009)

woot first post =D
(hence being new to this so go easy if im off on a few things)


Anyways moving on...

Just thought i'd note that its possible some companies (ROC comes to mind) might have been speculating about takeover offers to increase their share price prior to raising capital?

Anyways ima go for PPP as a possible TO target.

They have a solid balance sheet, very cashed up with no debt, good assests and a low share price in comparison to other smallish oil companies.

MC of 270Mil
Cash of 130Mil


----------



## Mad Mel (30 June 2009)

JTLP said:


> First stock to look at is: *MEL*




While I agree that MEL is highly undervalued...

MEL is a long way from any kind of existing or proposed transmission pipeline to any potential LNG terminal (namely Gladstone or Newcastle).  Therefore, my belief is that they are not as attractive a TO target as companies in the Bowen, Surat or Gunnedah basins.   But I certainly could be wrong.

On to my pick:

CRM:  very similar tenements in size, location, and farm-out arrangements to Gunnedah Gas, whose tenements were bought out by their farm-in partner Santos last quarter.  Over 80% owned by one person who may want to cash out (speculation on my part, but I know I would!).   Proximity close to ESG's developments and proposed Hunter Pipeline.  I see nothing in the company's statements indicating that they wish to (or have the infrastructure to) operate their holdings.

I hold CRM, don't hold MEL at the moment but have in the past and plan to do so again soon.


----------



## skc (1 July 2009)

NUF...

Potentially the chineses are sniffing around. They had a tilt at them in Nov 2008.

The strategic need probably hasn't change. But the price is halved.


----------



## skc (3 July 2009)

skc said:


> ENE - current price ~$2.02
> 
> They announced an indicative offer from Archer Capital in the range of $2.4-$2.8.
> 
> ...




further announcement last night that the indicative price range is the top of the range at $2.8. 

ENE is now officially on the auction block with Archer capital now conducting due diligence, and several other parties being invited in as well.

History has shown that such process can lead to higher offers for share holders, as overseas players value green energy companies on a much higher mulitple than Australian investors. Look at Pacific Hydro 4-5 years back.


----------



## makingmoney (4 July 2009)

Just a personal hunch but a great under-valued stock which could be a possible take-over is BSL -(bluescope)its a stock which currently @ 2.37-2.50 is currently beneath is asset value @ 3.43(this figure was 2mths old from wbc trafer pro-research..could have moved alittle).BSL would be a premium stock in any portfolio..ive personally been accumulating the current stock..might be a bit bais..but please do your own homework before buying.But its interesting to note that BSL which is in the top asx50 has currently been trading volume in the last month in about 60-70million per day(xao)which has placed it in my watchlist as a top 20 atm..any thts plz post?


----------



## J.B.Nimble (5 July 2009)

> HOW long before someone -- Xstrata or the Chinese, most likely -- decides to take out Highlands Pacific (HIG)? By Christmas, the giant Chinese-owned Ramu project in Papua New Guinea will be operational, and HIG has an 8.56 per cent stake in a mine that will be producing 31,500 tonnes of nickel and 3300 tonnes of cobalt a year. It also has 16.9 per cent of the huge Frieda copper-gold deposit in PNG. Xstrata is spending $US36m this year alone on Frieda, a project that is expected to produce 160,000 tonnes of copper and 240,000oz of gold a year. HIG is capitalised at $68.5m and has $28m in the bank.



http://www.theaustralian.news.com.au/business/story/0,,25634622-18261,00.html - the latest of several references Bromby has made to HIG in the last few months.

Lots of potential here in two good big projects with two big JV partners. 

They are sitting pretty with their free-carried to production interest in the $1.3 billion Ramu project. Very nicely done indeed - all MCC's borrowings are non-recourse to the JV partners and there are nice clawbacks once the borrowings are repaid. Production due early next year. 

And all the while Xstrata continue to drill the Frieda project. Again they are free carried - in this case until a decision to mine.

You would have to think that Xstrata and MCC have given this one some thought. At face value their EV is somewhat less than the value of the interest in either project. The successful bidder could flick out the interest in the other project and potentially have got something for nothing... Just a matter of time imho


----------



## skc (9 July 2009)

STO

From the Business Spectator



> Santos
> 
> A range of parties including Petronas, China National Offshore Oil Corporation (CNOOC), Shell, BP, AGL Energy and Apache Corporation could make hostile bids for Santos once restrictions are lifted on September 1, Dow Jones reports. The newswire service quoted analyst Di Brookman of Citigroup saying that although a 15 per cent shareholder cap was lifted by the South Australian government in November last year, companies that have since entered the Santos dataroom undertook that they would not make a hostile bid until the third quarter. Such parties include Malaysia's Petronas, which is Santos's LNG partner. Santos, which has a market cap of $10.84 billion, fell 2.43 per cent in the course of yesterday's trade.


----------



## So_Cynical (9 July 2009)

skc said:


> STO
> 
> From the Business Spectator




Traded under $13 today...so into the buy zone for me, buying under $13
has proven to be very profitable over the last 2 years.


----------



## skc (21 July 2009)

Tom elliot's top 10 takeover targets.

FGL
CMJ
AWB
ESG
ORG/STO
AIO
AXA
SEK
RIO
CTX

http://www.eurekareport.com.au/iis/iis.nsf/lpages/RWIE-7N92AE?opendocument


----------



## Dangerous (21 July 2009)

Mad Mel said:


> MEL is a long way from any kind of existing or proposed transmission pipeline to any potential LNG terminal (namely Gladstone or Newcastle).  Therefore, my belief is that they are not as attractive a TO target as companies in the Bowen, Surat or Gunnedah basins.   But I certainly could be wrong.
> .




See my comments from the first post....  I wonder if AGL would consider MEL?  Just a thought, but they took SGL and now STO have a blocking stake in ESG and OIP are a long way from certification


----------



## skc (24 July 2009)

skc said:


> NUF...
> 
> Potentially the chineses are sniffing around. They had a tilt at them in Nov 2008.
> 
> The strategic need probably hasn't change. But the price is halved.




Can't help but congratulate myself...for posting instead of trading the research 

http://business.smh.com.au/business/nufarm-surges-on-chinese-takeover-approach-20090724-dvhi.html


----------



## conankun (20 October 2009)

*Take Over / Acquisition News or Rumours*

Hi all,

Just realise we have not had any take-over / acquisition news thread in our forum. Since generally take-over will cause a bullish move, let this thread be the place where you post that kind of news (or rumours in some case, but please mention that it's still a rumour if it's so) like UMC take-over few days ago.

If possible, please post a chart and your analysis (fundamental/technical) as well to support your argument, not just "A is trying to acquire B".

Happy posting


----------



## So_Cynical (20 October 2009)

For those that don't know ENE - Energy Developments, have received yet another incomplete take over offer from Pacific Equity Partners @ 2.65 per share.

The board and myself are unimpressed  still the SP jumped 3.5% today, ENE are worth alot more than 2.65 a share (IMO) so there's some upside potential if a bidding war breaks out.

http://www.energydevelopments.com/_dbase_upl/ASX Release - Pacific Equity Partners Proposal.pdf


----------



## skc (21 October 2009)

RCI.

Has an conditional offer of 42c on the table with DD underway by some Indian firm.

RCI did have 2 offers with the other one pitched at 50c, again from India. That offer however was dropped without any explanation (yet).

RCI plummeted from 43c down to low of 33c yesterday, and now recovered to 36c. Still a good 15% below the indicative offer price.


----------



## geea (25 October 2009)

My first post. Hello to all.
A share i hold and have done very well in is MAH (Macmahon Holdings). They are a construction and contract mining company. Their largest share holder is LEI. There is currently a mou where by LEI can't go above 20% without MAH approval. The mou also involves MAH being a preferred partner in projects. This mou expires Nov 2nd. The new mou won't have the takeover clause in it.
At current prices MAH would be a great pick up for LEI and with the pick up in the local and global economys there will be plenty of new work.

There you go, my first and probably longest post i'll have.

Geea.


----------



## grace (3 January 2010)

I thought I would bump this thread too.  I really haven't seen any lists from brokers, which is unusual as they usually put them out at this time of year.

I'm going to have a stab at

ESG  Eastern Star Gas  (by Santos)
BOW  Bow Energy (by BG Group)
BRM  Brockman Resources (by BHP)
AQA  Aquila Resources (is it too late there?  I haven't been following it lately, hasn't someone started nibbling at it??)

That should do for now.


----------



## bigdog (3 January 2010)

*Todays Herald Sun Melbourne*

If you PART from the brave few that went hunting for recession - wounded prey, Austr a l i a n c o mpanies largely spent 2009 cleaning their backyards, raising some spare cash and limiting their losses. 

That welcome frugality is now set for a dramatic shakeup. 

In 2010, companies will begin to look over the fence again — into someone else’s backyard, hoping to conquer and expand their boundaries and add vital assets to their kingdoms. 

Market analysts believe the new year will bring with it a marked increase in company takeovers, mergers and acquisitions, as businesses look to strengthen their frame ahead of what looms as a prolonged period of economic growth. 

And apart from the takeoverhungry companies, it’s the savvy investors who stand to gain. Not by predicting who the predators will be, but by buying shares in the likely prey, and playing the waiting game. 

Take BHP Billiton’s on-again off-again hostile takeover bid for fellow giant miner Rio Tinto, which first reared its controversial head shortly after the share market peaked in November 2007. 

Rio Tinto shareholders had enjoyed a steady rise in the company’s share price for several uninterrupted years and were sitting comfortably on November 7, 2007, with the share price near record highs at $88.50. 

After the audacious bid to merge the two miners landed the following day, sending both companies into a trading halt, Rio Tinto shares catapulted to $108.84 on November 9, surging as high as $123.05 in the following weeks. 

Those savvy investors who predicted a takeover bid made 22 per cent in two days, and if they sold at the top weeks later, they pocketed 39 per cent amid the upheaval. 

While there was a general dearth of takeovers in 2009, investors still had a few surprise bids to make some quick coin. 

AXA Asia Pacific shares shot up 35 per cent when a bid from AMP hi t t he markets i n November. The investors who held steady and still own the shares recorded a healthy 51 per cent gain. 

Apart from creating acronymic disorder, AMP and AXA SA’s proposed takeover of AXA Asia Pacific — which was quickly followed by an attempt by NAB to buy AXA — may indeed be the f i rst major gobble-up on the cards in 2010. 

Here are some points to look for when attempting to pick a takeover target. 

*Resources, Resources, Resources*
If you believe the Chinese story, then resources will continue to be of interest,’’ MM&E Capital analyst Tom Elliott says. 

And none come bigger than a possible tie-up between BHP Billiton and Rio Tinto, which MM&E Capital continues to believe will come to fruition, in some shape or form. 

There is also the continued threat of cashed-up Chinese companies such as Chinalco, which has a 9 per cent share in Rio Tinto, or leading steel mills Baosteel or Wuhan Steel, stepping up their plans to own a major Australian iron ore play. That is, if the Foreign Investment Review Board and the Australian Competition and Consumer Commission relax the stance on Chinese interest in major Australian mining assets, something that MM&E Capital believes is a huge stumbling block for the foreign raiders. 

*Mid-Tier Miners are Ripe for the Picking*
Though the debt requirements are a concern, there is usually no better way for a mining company to grow than by bolton acquisitions that unlock synergies. 

In the realm of mid-cap mining assets, there is a smattering of companies that could face that knock on the door from a larger competitor, analysts say. 

And there is no shortage of appetite from a predator’s point of view, given Macarthur Coal’s raid on Gloucester Coal in recent weeks, and the announcement from OZ Minerals that it will look to acquire mining assets in the new year. 

Analysts at broking house Patersons believe companies such as Cudeco, Sandfire Resources and Rex Minerals could be in OZ Minerals’ sights. 

Gold companies will also warrant some attention, given the dwindling supplies of the precious metal the world over. 

*Gas and Coal are Boiling*
Once again Santos is likely to come under attack on multiple fronts from multiple nations, given its highly coveted coalseam gas assets, its Cooper Basin operations, and its offshore projects. Whenever major gas players merge, such as the Suncor and PetroCanada tie-up last year, Santos is always mentioned in the next breath as the next kid on the block to be bought. 

Companies such as Northern NSW group Eastern Star Gas and Brisbane-based Arrow Energy may find themselves with an offer or two. 

But perhaps the hottest takeover gossip will focus on Australia’s plethora of up-andcoming coal companies, which are all riding the wave of Chinese and Indian demand for the commodity. 

The start has been made by China’s Yanzhou Coal Mining which bought Felix Resources for a cool $3 billion in August 2009, while the aforementioned $668.8 million raid by Macarthur Coal on Gloucester Coal was lodged last week. 

One company that will come under the spotlight is Whitehaven Coal, which grew in value by a staggering 316 per cent last year. 

*Splits Open Up Opportunities*
Often companies that separate a diversified business into two part s , t hus s t r i ppi ng out underperforming sectors of the company, thrust themselves into the takeover spotlight. 

Case in point: Foster’s and CSR. 

With the former separating its lucrative beer business from its suffering wine operation, analysts are predicting a few buyers to come knocking for the newly formed beer company. In fact, the stock is atop of Mr Elliott’s list of probable takeover targets. 

Though it has hit a legal hurdle, CSR is also attempting to rip the best bits — its sugar and renewable energies division — out of the company and separately list its lossmaking building supplies and property operation. 

The cash-cow sugar business will no doubt attract attention. 

*Others to Watch*
Others that may attract attention are Consolidated Media Holdings — given Seven’s Kerry Stokes owns 20 per cent of the company — AWB, logistics group Asciano, Seek, and Caltex. 

Mr Elliott mentions the real estate and infrastructure sectors as other likely arenas for takeover activity in 2010. 

But he believes takeovers and mergers will not be sector specific. He often focuses on stocks with strategic shareholdings. 

‘‘We run one fund that tries to predict takeovers, and what we look for is strategic shareholdings in companies, as more t h a n h a l f t h e t i me wi t h takeovers there was already a holding in question that caused the bid to occur,’’ he says. 

Austock’s Mr Heffernan predicts there will be consolidation in the healthcare sector, with four primary players — Sonic Heathcare, Healthscope, Ramsey Heath, Primary Health Care fighting for the top rung.
345


----------



## sammy84 (23 May 2010)

If the correction is over (big if), I would expect to see another round of takeover offers.

I'm looking at targets where a company has already taken up the the maximum allowable 20% holding and the targets price has been battered down lately. My list currently comprises:


BRM- Wah nam have a 20% interest. They are not  buyer of commodities so must be looking for a bid soon.
CEY- Banpu has a 20% interest. Banpu are a coal miner so whether they will look to takeover or maintain a strategic interest is unclear.
MCC- Hard to see activity dying of here. Price has come off about 40%, so a lot of upside.

Any more? Help please


----------



## geea (23 May 2010)

Sammy. MAH meets that criterior with LEI holding about 20% and the price having come down frommid $0.80's to low $0.50's


----------



## Logique (26 May 2010)

Overseas buyers are known to come sniffing around at signs of weakness in our coal companies. Since the April high:

WHC 6.00 down to 4.42
CEY 4.80 down to 3.58
MCC 16.60 down to 10.39

Wouldn't surprise in the case of any of the above.


----------



## Miner (26 May 2010)

I am guessing TOE will be a take over target by either BHPB Uranium or Mega Uranium.
TOE is lagging and does not have the strength to put the plant. Yeelirrie is promising in the same area and a golden cow for BHPB. So is Mega Uranium with Canadian support.
Time frame could be one to two years. Once Yeelirrie gets EPA permission, BHPB will snare TOE overnight. 

My guess and DYOR


----------



## sammy84 (26 May 2010)

Logique said:


> Overseas buyers are known to come sniffing around at signs of weakness in our coal companies. Since the April high:
> 
> WHC 6.00 down to 4.42
> CEY 4.80 down to 3.58
> ...




Agreed with all of these. Especially MCC. THe reduced MCC takeover bid might have been an opportunistic play by Peabody given market conditions at the time. If the market can kick higher from here and more clarity is given regarding the RSPT, then the activity would hopefully resume. Does anyone know if there are options available for MCC?


----------



## nunthewiser (26 May 2010)

sammy84 said:


> . Does anyone know if there are options available for MCC?




http://www.afrsmartinvestor.com.au/tables.aspx


----------



## nunthewiser (27 May 2010)

sammy84 said:


> Thanks Nun you are a true internet guru




No worries Sam, happy to help with queries anytime i can


----------



## sammy84 (27 May 2010)

nunthewiser said:


> No worries Sam, happy to help with queries anytime i can




Haha, thanks, it saved me actually thank you.

Unfortunately no options for MCC


----------



## nunthewiser (27 May 2010)

LOL sorry was just being a smartarse.

yeah i looked also , couldnt find any ........ CFD,s not a consideration? or too expensive for your purposes/planned hold time?


----------



## sammy84 (27 May 2010)

nunthewiser said:


> LOL sorry was just being a smartarse.
> 
> yeah i looked also , couldnt find any ........ CFD,s not a consideration? or too expensive for your purposes/planned hold time?




Yeah too much risk to hold for a prolonged period. 

IOH is another one that should be added. Price has pulled back from 2.71 to 1.86. Chinese company Sumisho is a substantial holder along with one of Kerry Stokes investment co. Current price levels do not adequately price in the potential of a takeover.


----------



## skc (29 October 2010)

Been quite here for a little bit, even though the market is heating up on the M&A front.

Here's an article from The Australian on Deutsche Bank's list of M&A targets - sounds more like a wet dream than real imo.

http://www.theaustralian.com.au/bus...ctivity-picks-up/story-fn4xq4v1-1225945114800



> He flagged several possible deals, including an HSBC bid for Suncorp, an Axa SA bid for Axa APH, a merger between Bank of Queensland and Bendigo Bank, a big-four bank bid for Challenger Financial Services Group and a merger of QBE and IAG.
> 
> In a wide ranging look at possible activity, Baker’s key picks include Oil Search, WorleyParsons, Asciano, Adelaide Brighton, Resmed, Aristocrat Leisure, Challenger Financial Services Group, Dulux, Foster’s and Infigen Energy.




Looking back at the thread the hit rates were pretty low. Of the 25+ stocks mentioned here, only 5 or 6 picks have actually received takeover offers. A few of them eventuated to nothing (MCC, RCI, NUF, NXS) while a few is probably still possible (WHC, TAH?).


----------



## YELNATS (29 October 2010)

Regarding "a merger between Bank of Queensland and Bendigo Bank", BOQ made a merger offer for BEN a few years ago, but BEN rejected it on the basis of it not being a good fit/not much synergy. 

Instead BEN went ahead and acquired Adelaide Bank.

That's not to say it couldn't happen at some future time though.


----------



## awg (29 October 2010)

WHC is my highest conviction hold for this strategy, see todays announcement.

IRN  has strong takeover interest atm, but the likely premium does not look all that flash.

Plenty of talk and detail about ESG 

KAR  ... a tiny hint of Chinese big fish gobbling them up?

PRU is another imo, that has many good elements to its story 

Some details on the relevant threads

disclaimer, I hold these stocks


----------



## skc (29 October 2010)

awg said:


> WHC is my highest conviction hold for this strategy, see todays announcement.
> 
> IRN  has strong takeover interest atm, but the likely premium does not look all that flash.
> 
> ...




Have to agree that every decent coal and gold stocks are targets at the moment. Very little doubt that WHC won't be around for long.

The gas guys however are all talk and no action. But if someone was to get the ball rolling then there will probably be a string of deals. ESG while attractive is somewhat captive to STO and that may not be the best in terms of takeover premium.


----------



## awg (29 October 2010)

I agree with regards to ESG, dissapointing SP, and not much premium as things stand, however, they are trying to manouver themselves for some leverage with Japanese buyers. 

I deleted my initial remark to this effect.
I intend to continue to hold for the time being though 

KAR is dissimilar to ESG, due to location of big interests off WA and Brazil etc.
High volatility for a stock verging on ASX100


----------



## MEGALADON (29 October 2010)

skc said:


> Have to agree that every decent coal and gold stocks are targets at the moment.




Is that you Charlie ?


----------



## sammy84 (11 November 2010)

sammy84 said:


> If the correction is over (big if), I would expect to see another round of takeover offers.
> 
> I'm looking at targets where a company has already taken up the the maximum allowable 20% holding and the targets price has been battered down lately. My list currently comprises:
> 
> ...





Ok so BRM worked out nicely. 

Now looking for new targets. One the leading indicators of late has been the situation where there is an overseas company with a 19.9% interest. Would also have to be restricted to the commodities space. Anyone able to offer up more companies which fit these criteria?


----------



## mr. jeff (11 November 2010)

I know it's not an overseas holder, but 



> At 21 October 2010 the top 20 Shareholders of Exco were as follows:
> Current units Percentage
> 1 Ivanhoe Australia Limited 79,288,632 22.88%
> 2 JP Morgan Chase & Co (Uk) 29,300,804 8.46%
> ...



 modified quote for addition of symbols only.

from EXS latest quart report.

May have already been discussed. Has been raised in the media a few times.


----------



## grace (11 November 2010)

grace said:


> I thought I would bump this thread too.  I really haven't seen any lists from brokers, which is unusual as they usually put them out at this time of year.
> 
> I'm going to have a stab at
> 
> ...




Okay, one gone (not to BHP though), three to go.  Might have to wait to 2011 for the others.


----------



## mr. jeff (31 December 2010)

One I have just noticed,  AKM Aspire Mining has just had a 19.9% stake taken in it by South Gobi Resources...one to watch I guess ? 

To Company Name/Scheme Aspire Mining Limited
ACN/ARSN 112 417 243
1. Details of substantial holder (1)
Name SouthGobi Resources Limited (and its related bodies corporate)
Ordinary Shares
105,860,186
19.9% of 531,960,734 shares

Takeover potential?


----------



## MR CUBE (2 January 2011)

Iron Ore Holdings last of the juniors left without a dance partner, Buckland Hills could be the tenement that makes them tempting for RIO. FMG also in the mix because of the close proximity to Iron Valley.


----------



## awg (4 January 2011)

sammy84 said:


> Ok so BRM worked out nicely.
> 
> Now looking for new targets. One the leading indicators of late has been the situation where there is an overseas company with a 19.9% interest. Would also have to be restricted to the commodities space. Anyone able to offer up more companies which fit these criteria?




GXY  Galaxy Lithium, is 19.99% owned by Creat Holdings. (China)

SP has been a bit slow considering sector rise, but this should change with progress happening (DYOR)

I dont own GXY for takeover prospect, but exposure to the Li sector


----------



## sammy84 (23 February 2011)

*AUN*

Posted this chart in the breakout thread a few days ago. Was curious about the volume on takeover speculation. Article below seems to confirm.

http://www.theaustralian.com.au/bus...head-to-colorado/story-e6frg9if-1226010355216


----------



## grace (18 July 2011)

grace said:


> Okay, one gone (not to BHP though), three to go.  Might have to wait to 2011 for the others.






grace said:


> I thought I would bump this thread too.  I really haven't seen any lists from brokers, which is unusual as they usually put them out at this time of year.
> 
> I'm going to have a stab at
> 
> ...




Both Brockman and now Eastern Star Gas offer by Santos today.  Who is next?


----------



## SilverRanger (18 July 2011)

grace said:


> Both Brockman and now Eastern Star Gas offer by Santos today.  Who is next?




There are not many left on the list 

BOW had quite a boost today from the ESG takeover news, which makes sense as other big energy players will be pressured to make similar moves.


----------



## Garpal Gumnut (19 July 2011)

PEN would have to be a t/o target.

They have a new investor from the US, Nucore Energy, and the close has remained particularly resilient in these times of panic, blood and mire.

Hangseng, the PEN guru, would be able to appraise ASF better on any takeover potential.

I, by the way, have a few small kopecks in this miner.

gg


----------



## grace (25 August 2011)

grace said:


> Both Brockman and now Eastern Star Gas offer by Santos today.  Who is next?




There goes BOW too.


----------



## djhenry1981 (26 August 2011)

According to their annoucnemtn ACS is currently a takeover target and they are in negotiations for a friendy takeover.


----------



## alexc2005 (30 August 2011)

AWC seems to be brought up as a take over target.

I cant see why though?


----------



## Garpal Gumnut (4 September 2011)

I would be interested in members opinions on the top 5 present likely takeover targets in the ASX. 

Given the lower valuations of SP recently it would be the time for the Chinese and big miners and industrials to buy.

gg


----------



## skc (4 September 2011)

Garpal Gumnut said:


> I would be interested in members opinions on the top 5 present likely takeover targets in the ASX.
> 
> Given the lower valuations of SP recently it would be the time for the Chinese and big miners and industrials to buy.
> 
> gg




Not necessarily the top 5 but they appear regularly on various publications/rumour mills.

ERA 
TSE 
GRR
TWE
TAH
Echo entertainment

And those with half / incomplete offers on the table.

BMN
AUN
CQO
SDL
FGL
SPT

Quite a few of these are well below deal price for various reasons.


----------



## noirua (4 September 2011)

I was going to name my top 10 takeover targets and noticed, lo and behold, that they are all stocks held in my portfolio; strange that.
Then I was going to list a lot of gold stocks that may be taken over and noticed that 80% of my stocks held (I remain 50% in cash - lower than I should be) are all in a large number of gold stocks from giant to super small minnow; strange that.
Most gold producers should have cash pouring in but most I look at seem to have ventures on the go. Mind you, search for those excellent Aussie based miners with low cost mines with long mine lives, these are probably the ones to monitor very closely indeed.

Coal stocks have plunged in the minnow sector and could be ripe for a takeover though most companies appear to want to buy such mines from a financially stressed company. Such are the times we live in just now.


----------



## vkdirector (5 September 2011)

With AUN does anybody know what sort of time frame the ACCC will allow or usually allows before it will give its final decision with regards to the FOXTEL transaction?

Its been about 6 weeks so far from when AUN made there statement about the ACCC's market inquiries.


----------



## Logique (5 September 2011)

Unfortunately the takeover predators come out at times like these, so if you believe in a company, retain some interest in it, especially in 'hot' sectors.  

Queensland Gas (still grumpy about that one) and Eastern Star Gas (ditto) come to mind in recent years, but also I'd watch the gold, coal and rare earths sectors.


----------



## skc (5 September 2011)

vkdirector said:


> With AUN does anybody know what sort of time frame the ACCC will allow or usually allows before it will give its final decision with regards to the FOXTEL transaction?
> 
> Its been about 6 weeks so far from when AUN made there statement about the ACCC's market inquiries.




It was going to be 6 Sept but has since been extended. Prob 4 weeks extension but not 100% sure.


----------



## vkdirector (5 September 2011)

Cheers for the info skc I had thought it would have to be getting close to the announcement date by now. I do have a pretty small holding of AUN and they have been doing ok lately considering on what a lot of other companies have been doing, so 4 weeks is not to far away.

EDIT..... 

The Australian Competition and Consumer Commission today released a Statement of Issues on the proposed acquisition by FOXTEL Management Pty Limited of AUSTAR United Communications Limited.

The Statement of Issues seeks further information on certain competition issues which have arisen from the ACCC's review to date.

The ACCC invites further submissions from the market in response to the Statement of Issues by 11 August 2011. As a result the ACCC's final decision will be deferred until *8 September 2011*.

Submissions can be sent by email to the ACCC at mergers@accc.gov.au.

The Statement of Issues will be available on the public merger register on the ACCC's website, www.accc.gov.au/mergersregister.

Release # NR 128/11
Issued: 22nd July 2011

Wonder if the 8th September is still going to be the date.


----------



## skc (5 September 2011)

vkdirector said:


> Release # NR 128/11
> Issued: 22nd July 2011
> 
> Wonder if the 8th September is still going to be the date.




Thought I read something since then about extention but couldn't remember where I saw it. Could have been dreaming...


----------



## vkdirector (8 September 2011)

skc said:


> Thought I read something since then about extention but couldn't remember where I saw it. Could have been dreaming...




Looks like you were not dreaming as there was no announcement today but I could not find any info anywhere on an new announcement date.


----------



## skc (8 September 2011)

vkdirector said:


> Looks like you were not dreaming as there was no announcement today but I could not find any info anywhere on an new announcement date.




There is no date.

http://www.accc.gov.au/content/index.phtml/itemId/975742/fromItemId/750991



> ACCC requested further information from the merger parties. Former proposed decision date of 8 September 2011 delayed. ACCC timeline suspended pending receipt. ACCC will announce a new proposed decision date upon receipt of further information from the parties.


----------



## robusta (6 October 2011)

Well I do like this article

http://www.asx.com.au/asxpdf/20111006/pdf/421l5mf1qc736l.pdf

As I have two of the six in my portfolio. (FGE and MTU)

WEB and ANG have been on my watch list for a while, UXC does seem interesting and for what it is worth I have no interest in AMP.


----------



## skc (14 October 2015)

There seems to be a fair bit of M&A in the market of late. I am just jotting them down here for the record and for occasions when I wish to review them. These are the current live deals.

*Energy*
OSH / WPL , AJQ
*Materials*
ATE
*Telco*
MTU / VOC
*Mining services*
SKE / PRG, COF, CDD, BKN
*Properties*
ANI / TIX, LEP
*IT*
UXC, VED
*Retail*
PGR
*Other Industrials*
AFJ / GEM, ISU, VEI, AIO, REC

If I have missed anything please add to the list.


----------



## skc (14 October 2015)

skc said:


> If I have missed anything please add to the list.




HUB / IFL


----------



## VSntchr (15 October 2015)

skc said:


> There seems to be a fair bit of M&A in the market of late. I am just jotting them down here for the record and for occasions when I wish to review them. These are the current live deals.
> If I have missed anything please add to the list.



Read this last night just before bed and thought "what a great thread!" Great idea to keep track of everything in-play. 


skc said:


> HUB / IFL



Came here to actually add some value and post HUB, looks like I am too slow.


----------



## skyQuake (15 October 2015)

Couple of small ones: PXG, AQP


----------



## tinhat (15 October 2015)

TGS: takeover or partial sale.

14 Oct 2015

Tiger Resources Limited (“Tiger” or the “Company”) is pleased to announce the appointment of
senior mining industry professional Mark Connelly as an independent non-executive director of the
Company.

Mark has extensive resource industry experience in CEO and Managing Director roles at a number of
international companies across multiple jurisdictions including Australia, North America, South
America, Africa and Europe. In those roles he has been instrumental in the development,
construction and operation of mining projects for a variety of commodities, including gold, base
metals and other minerals.

Mark was principally responsible for the merger of Papillon Resources and B2 Gold Corp in October
2014 (transaction value AUD$650M), as well as the key person responsible for Adamus Resources
and Endeavour Mining merger in September 2011 (transaction value AUD$580M). These
achievements were recognised last year by the issue of Mining Journal’s “Outstanding Achievement -
CEO of the Year 2014 Award”.


----------



## skc (15 October 2015)

New one today: ABY/MLX


----------



## skc (16 October 2015)

Apparently this gets released every Friday... bold ones are missing from my list.



> Takeover Placements - Oct 16
> 
> AS AT    OFFEROR            SHARES      OFFER PRICE Incr./Decr. CODE OFFER
> 26/10/15 360 Capital IF     96288031    0.9 TIX +   +$0.10      ANI
> ...




Quite a few outdated ones... and doesn't include unconfirmed ones like ISU or even VED and AIO.


----------



## VSntchr (19 October 2015)

skc said:


> *Mining services*
> SKE / PRG, COF, CDD, BKN



Updates-
SKE/PRG has now been implemented.

CDD has just recommended the increased offer of $3.45 by Crescent. Note: only 1 out of every 2 shares are being bid for.


----------



## skyQuake (19 October 2015)

VSntchr said:


> Updates-
> SKE/PRG has now been implemented.
> 
> CDD has just recommended the increased offer of $3.45 by Crescent. Note: only 1 out of every 2 shares are being bid for.




CDD too hard - market thinks post proportional t/o the price will get slammed 10%+


----------



## skc (19 October 2015)

skyQuake said:


> CDD too hard - market thinks post proportional t/o the price will get slammed 10%+




I am small long... At $3.06, the share price post offer needs to be <$2.67 for a loss.

I can't see it getting slammed that much. Not on open anyway.


----------



## So_Cynical (19 October 2015)

Some media speculation about Reckon - RKN

They have sought advise from Macquarie...i noticed because i hold.

http://www.itnews.com.au/news/recko...eed&utm_medium=rss&utm_campaign=editors_picks


----------



## skc (20 October 2015)

Tiny one to add to the list.

ORS cash and script offer from AYC


----------



## SilverRanger (23 October 2015)

New on the list: BPT/DLS, been onto this one for over a month and finally caught it


----------



## notting (23 October 2015)

SilverRanger said:


> New on the list: BPT/DLS, been onto this one for over a month and finally caught it




DLS was looking quite good with it's oil prices hedged at 80 something.   I'm happy cause I had a lot of DLS given the hedge, but I reckon it's another Stokes rip off if Oil doesn't move beyond 50 not to mention 80  something (in which case everyone is happy) from here it simply improves BPT balance sheet and cash flow.

Drillsearch Chairman Jim McKerlie and Director Phil Bainbridge to join Board of combined group - *it's all about us!*


----------



## SilverRanger (23 October 2015)

notting said:


> DLS was looking quite good with it's oil prices hedged at 80 something.   I'm happy cause I had a lot of DLS given the hedge, but I reckon it's another Stokes rip off if Oil doesn't move beyond 50 not to mention 80  something (in which case everyone is happy) from here it simply improves BPT balance sheet and cash flow.
> 
> Drillsearch Chairman Jim McKerlie and Director Phil Bainbridge to join Board of combined group - *it's all about us!*




This deal was always awaiting to happen, the difficult part is the timing. For me seeing DLS's share price dipping below BPT's was the no-brainer trigger to get fully loaded.

Actually I'm a bit disappointed in BPT's performance today, does people just not appreciate the quality of assets and synergies DLS is giving?


----------



## skc (23 October 2015)

SilverRanger said:


> Actually I'm a bit disappointed in BPT's performance today, does people just not appreciate the quality of assets and synergies DLS is giving?




It's those bloody pair traders who keep shorting BPT...


----------



## skc (23 October 2015)

List update. *[BOLD]* = new

*Energy*
OSH / WPL , AJQ, *STO, DLS/BPT*
*Materials*
ATE, , UNV, AQP, PXG/EVN, CKA, *ABY/MLX*, *ORS/AYC*
*Telco*
MTU / VOC
*Mining services*
SKE / PRG, COF, CDD, BKN
*Properties*
ANI / TIX, LEP
*IT*
UXC, VED, HUB
*Retail*
PGR
*Other Industrials*
AFJ / GEM, ISU, VEI, AIO, REC

*Rumours only*
DSH, RKN, WOW

If I have missed anything please add to the list.


----------



## SilverRanger (29 October 2015)

skc said:


> List update. *[BOLD]* = new
> 
> *Energy*
> OSH / WPL , AJQ, *STO, DLS/BPT*
> ...




The DSH rumour is looking increasingly likely now I would say.

DSH 2016 NPAT $37-43M, market cap $200M, PE 5
JBH market cap $1800M, PE 13, hmmm....


----------



## skc (29 October 2015)

SilverRanger said:


> The DSH rumour is looking increasingly likely now I would say.
> 
> DSH 2016 NPAT $37-43M, market cap $200M, PE 5
> JBH market cap $1800M, PE 13, hmmm....




Don't know. There's a good article on the DSH thread. https://www.aussiestockforums.com/forums/showthread.php?t=27686&page=2&p=888062#post888062

I wonder who would take DSH over? A private equity buyer will have a lot of trouble with their exit... No investment manager will buy it again as the name is tainted forever. A trade buyer is not impossible... but there would be a lot of overlap between say JBH's coverage and DSH's. You don't want 2 stores in the same shopping centre. The unlisted players (e.g. The Good Guys) I just don't know they'd be big enough.

Now... I would say WOW's takeover potential has increased.

P.S. Love to hear some thoughts on AIO/QUB situation (in the AIO thread).


----------



## VSntchr (2 November 2015)

Robusta's chosen online property play has hit the headlines this morning!
REA to take IPP with a $4.00 share offer or $1.20 share + cash offer.


----------



## skc (2 November 2015)

VSntchr said:


> Robusta's chosen online property play has hit the headlines this morning!
> REA to take IPP with a $4.00 share offer or $1.20 share + cash offer.




Got some ICQ on open


----------



## skc (6 November 2015)

List update. *[BOLD]* = new since last update (on 23 Oct)

_Energy_
OSH / WPL, STO, DLS/BPT
_Materials_
ATE, , UNV, AQP, PXG/EVN, CKA, ABY/MLX, ORS/AYC
_Telco_
MTU / VOC
_Mining services_
COF, CDD, BKN
_Properties_
LEP
_IT_
UXC, VED, HUB, *IPP/REA*
_Retail_
PGR
_Other Industrials_
AFJ / GEM, ISU, VEI, AIO, REC

_Removed_
Completed: ANI/TIX, SKE/PRG
Withdrawn: AJQ (accepted alternate placement offer)

_Rumours only_
RKN

_Other notes_
- IPP / REA was logical and you wonder how long before CAR moves on ICQ. 
- ACCC was prominent ruling on REC and MTU/VOC.
- AIO's situation is getting very interesting and looks like it might get carved up beyond recognition. 
- Due diligence on UXC should end early next week.
- PXG accepted EVN's offer with 0.75c sweetener. It was going to get swallowed anyway.
- CDD accepted a slightly sweetened 50% proportional offer.
- ISU now trading lower than the price before the receipt of a proposal. Is the market pricing that there'd be negative premium and dirt would be uncovered by the would-be bidder?

If I have missed anything please add to the list.


----------



## So_Cynical (9 November 2015)

Drawing a longbow but i reckon that Dourado Resources (DUO) will be a target at some point in time, maybe years, assuming that the following all works out as expected. 


 Zyber reverse takeover goes ahead without a hitch
 Clay Epstein is happy to stick around and does a good job
 The software delivers as expected
 Takes market share from dropbox etc

Then it will only be a matter of time before one of the big guns comes along with a suitcase full of money.


----------



## skc (20 November 2015)

List update. *[BOLD]* = new since last update (on 6 Nov)

_Energy_
OSH / WPL, STO, DLS/BPT
_Materials_
UNV, AQP, PXG/EVN, CKA, ABY/MLX, ORS/AYC, *GCR*
_Telco_
MTU / VOC
_Mining services_
COF, CDD, BKN
_IT_
UXC, VED, IPP/REA
_Properties_
*DVN/CIM*
_Financials_ 
*OFX*

_Other Industrials_
AFJ, ISU, AIO/*QUB*, REC,* TTS/TAH*

_Removed_
Completed: VEI, ATE
Withdrawn: LEP, PGR, HUB

_Rumours only_
RKN

_Other notes_
- QUB gets to do due diligence on AIO. 
- Due diligence on UXC extended... market didn't like it.
- ISU trading update was poor (the dirt is still coming out)... thankfully they leaned on the prospect of a takeover and it's share didn't fall into a heap. Watch out below if there is no deal.
- TTS/TAH. A merger of equal deal was sought but couldn't be finalised due to recent TAH share price weakness. I have always gone on the basis of TTS being the acquirer and TAH being the target. If TAH has been weak... may be TTS can flip the table and bid for TAH?!
- DVN - CIM (the old Leightons) tried to sell it's 49% DVN holding earlier this year without success... then decided to acquire the remaining stake after DVN's profit warning. Whatever!

If I have missed anything please add to the list.


----------



## skc (7 December 2015)

List update. *[BOLD]* = new since last update (on 20 Nov)

_Energy_
OSH / WPL, DLS/BPT
_Materials_
UNV, AQP, PXG/EVN, CKA, ABY/MLX, ORS/AYC, GCR, *UML*
_Telco_
MTU / VOC
_Mining services_
COF, CDD, BKN, *BRS*
_IT_
UXC, VED, IPP/REA
_Properties_
DVN/CIM, *IOF/DXS*
_Financials_ 
OFX
_Other Industrials_
AIO/QUB, REC, TTS/TAH

_Removed_
Completed: AFJ
Withdrawn: STO, ISU

_Rumours only_
RKN

_Other notes_
- ISU no deal reached as expected.

If I have missed anything please add to the list.


----------



## skc (24 December 2015)

List update. *[BOLD]* = new since last update (on 7 Dec)

_Energy_
DLS/BPT
_Materials_
UNV, AQP, CKA, ABY/MLX, ORS/AYC, GCR, UML
_Telco_
MTU / VOC
_Mining services_
COF, BKN, BRS
_IT_
UXC, VED, IPP/REA, *OTH*
_Properties_
DVN/CIM, IOF/DXS
_Financials_ 
OFX
_Other Industrials_
AIO/QUB, REC, TTS/TAH, *RIS/MVT*

_Removed_
Completed: PXG/EVN (compulsory stage now), CDD
Withdrawn: OSH/WPL

_Rumours only_
RKN

If I have missed anything please add to the list.


----------



## skc (29 December 2015)

skc said:


> _Rumours only_
> RKN




Should add that RKN rumour has died down a little, while GXL rumour seems quite real with stock raids and all.


----------



## peter2 (14 January 2016)

Major shareholder *CIM* offers to buy *SDM* at 1.07/s.


----------



## skc (15 February 2016)

Hmm... Having updated this list for some time.

List update. *[BOLD]* = new since last update (on 24 Dec)

_Energy_
DLS/BPT
_Materials_
AQP, CKA, ABY/MLX, UML
_Mining services_
BRS, *SDM/CIM*
_IT_
OTH
_Properties_
DVN/CIM, IOF/DXS
_Other Industrials_
AIO/QUB, REC, RIS/MVT, *CKL*

_Removed_
Completed: MTU/VOC, COF, UNX, IPP/REA, VED, ORS/AYC,  GCR (offer closed @ 76.46%), , RIS/MVT (offer closed)
Withdrawn: OFX (no firm offer), BKN (no real updates), UNV (expired with minimal acceptance)

_Rumours only_
RKN, TTS/TAH, CWN

If I have missed anything please add to the list (I have a feeling I missed something...).


----------



## skc (11 March 2016)

List update. *[BOLD]* = new since last update (on 15 Feb)


_Materials_
AQP, CKA, ABY/MLX, UML, *WTR *(Actually annoucned 18 Jan)
_Mining services_
BRS, SDM/CIM
_IT_
OTH (New offer)
_Properties_
DVN/CIM, IOF/DXS
_Other Industrials_
AIO/QUB, REC, CKL, *EPX/APA*, *NPX*

_Removed_
Completed: DLS/BPT 
Withdrawn: RIS/MVT [Offer closed] 

_Rumours only_
*SRF* - Not a real bid yet, but the CEO has quit to team up with private equity to potentially launch a bid... _The optics are not good_!

If I have missed anything please add to the list


----------



## skc (24 March 2016)

List update. *[BOLD]* = new since last update (on 11 Mar)

_Materials_
AQP, CKA, ABY/MLX, UML, WTR(Actually annoucned 18 Jan), *FMS*
_Mining services_
BRS 
_IT_
OTH (New offer)
_Properties_
DVN/CIM, IOF/DXS
_Other Industrials_
AIO/QUB, REC, CKL, EPX/APA, NPX

_Removed_
Completed: SDM/CIM 
Withdrawn: 

_Rumours only_
SRF, *PRY* - Chinese entity appeared as substantial holder.

If I have missed anything please add to the list.


----------



## skc (22 April 2016)

List update. *[BOLD]* = new since last update (on 11 Mar)

_Materials_
CKA, ABY/MLX, UML (new offer), WTR, FMS
_Mining services_
BRS, *BKN (re-cap)*
_IT_
OTH
_Properties_
DVN/CIM 
_Other Industrials_
AIO/QUB, EPX/APA, NPX, *FGI*

_Removed_
Completed: AQP, REC, CKL
Withdrawn: DVN/CIM (Expired), IOF/DXS (voted down)

_Rumours only_
PRY - Chinese entity appeared as substantial holder.

If I have missed anything please add to the list.


----------



## skc (18 May 2016)

List update. *[BOLD]* = new since last update (on 22 Apr)

_Materials_
ABY/MLX, UML (new offer), WTR, FMS, *AWE* (80c offer rejected)
_Mining services_
BRS, BKN (re-cap), *AAX * (Indicative non-binding proposal)
_IT_
OTH
_Properties_
*GMF/GOZ*
_Other Industrials_
AIO/QUB, NPX, *PBG*

_Removed_
Completed: EPX/APA (compulsory acquisition), FGI (compulsory acquisition)
Withdrawn: CKA (not sure what's going on with this one)

_Rumours only_
SAI, SRF

If I have missed anything please add to the list.


----------



## skc (1 July 2016)

List update. *[BOLD]* = new since last update (on 18 May)

_Materials_
ABY/MLX, WTR, FMS, *GRY/TGZ*, *ATA*
_Mining services_
AAX, *ALQ* (Offer $5.30 rejected)
_IT_
OTH
_Properties_
*GMF/GOZ* (Bidding war between GOZ and CMA), *PAY*
_Financials_
*OVH/DVA*
_Other Industrials_
AIO/QUB, NPX, *PFL* (Scheme offer @ $1.65)

_Removed_
Completed: UML, BRS, PBG
Withdrawn: AWE (Offer rejected), BKN (re-cap done)

_Rumours only_


If I have missed anything please add to the list.


----------



## VSntchr (1 July 2016)

skc said:


> List update. *[BOLD]* = new since last update (on 18 May)
> 
> _Materials_
> ABY/MLX, WTR, FMS, *GRY/TGZ*, *ATA*, *GMM/GXY*
> ...



Added *GMM/GXY*


----------



## So_Cynical (2 July 2016)

skc said:


> If I have missed anything please add to the list.




AGI - AINSWORTH GAME TECHNOLOGY

Len has sold his 53% to a big Austrian mob, one would think that a full T/O is only a matter of time, or is that a buyout?


----------

