Normal
Brisbane, 27 February 2014:Austin welcomes the announcement by Bradken Limited today that it has withdrawn its unsolicited, highly conditional non-binding proposal that it made in December 2013 for all of the shares in Austin that Bradken does not already hold.And the market welcomes a share drop of a further 14.2%. But don't' worry, ANG management are anticipating new contracts.Class action is there for the taking if I was long, I'd be taking!Austin notes that Bradken currently intends to maintain its strategic holding in Austin. Now for the conspiracy theory.- Maybe BKNs offer was a joke to prop up the price so the retail end of ANGs capital raising would hold up and hence Bradkens existing investment in ANG is less risky - a longer term play.
Brisbane, 27 February 2014:Austin welcomes the announcement by Bradken Limited today that it has withdrawn its unsolicited, highly conditional non-binding proposal that it made in December 2013 for all of the shares in Austin that Bradken does not already hold.
And the market welcomes a share drop of a further 14.2%.
But don't' worry, ANG management are anticipating new contracts.
Class action is there for the taking if I was long, I'd be taking!
Austin notes that Bradken currently intends to maintain its strategic holding in Austin. Now for the conspiracy theory.
- Maybe BKNs offer was a joke to prop up the price so the retail end of ANGs capital raising would hold up and hence Bradkens existing investment in ANG is less risky - a longer term play.
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