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Further talk today in AFR about CAH-SBM merger. Looks like CAH are not that excited about it. It may be they are just waiting now for a takeover offer from other arena's, but there is a suggestion that the Cracow asset which CAH has a 30% stake in and rights on the rest has to be sorted (viewed as a major asset) out before the merger can proceed. CAH without this as merged entity would be less attractive.
There will be more to come out in the wash shortly no doubt, but CAH is a good producer and with good ground they have plenty more to offer than SBM appears to have, so I hope their value is crystallized in any deal that is made, as the current merger proposal is not that exciting when looked into - CAH holders end up with a very diluted holding in a larger company ~20%.
Who will be the bidder?
There will be more to come out in the wash shortly no doubt, but CAH is a good producer and with good ground they have plenty more to offer than SBM appears to have, so I hope their value is crystallized in any deal that is made, as the current merger proposal is not that exciting when looked into - CAH holders end up with a very diluted holding in a larger company ~20%.
Who will be the bidder?
