BKN - Bradken Limited

[notting]

Here we go. There is a rather odd looking take over offer for BKN. Then a massive run up and Austin (BKN owns a big chunk) sells something which ends the run up then does this -

Eligible shareholders will be entitled to subscribe for 2 new shares
at $0.08 per share for every 1 Austin share held as at 7:00pm (Australian Eastern Standard Time) on Monday, 6 June 2016.
The offer price of A$0.08 per share represents a 50% discount to the closing price of Austin shares on 23 May 2016 (being the last trading day before announcement of the Entitlement Offer) and a discount of 25% to the
theoretical ex-rights price (TERP) of A$0.107.

Hmm 50 percent discount. Swell.

What's going to happen next, price crashes and BKN buys it? Lets wait and see

 

[notting]

Due to recent momentum I put a bid on this at 1.12 just before the average :dunno: restructure news.
It then took off and by 22.5% to 1.355 I missed it. NOOOOOOOOOOOOOOOOOOOOOO

I also missed PRG yesterday by one tick. Up today by 11%

Kill me



PS buy the rumor sell the fact!

 

[notting]

PS buy the rumor sell the fact!

Looks like longs are lining up to dump on the squeeze. Fat sellers at 1.70 thus far - (very short term opportunity, 1.665)

 

[System]

On May 17th, 2017, Bradken Limited (BKN) was removed from the ASX's official list at the request of the Company, pursuant to Listing Rule 17.14, following the completion of the compulsory acquisition by Hitachi Construction Machinery Co., Ltd of all the issued shares of the Company.