CSR - CSR Limited

[Fab]

Just hit $3.96 and getting nervous as my profits build up. With previous rumours of a bid or break-up, maybe, just maybe, it's just about to hit us, one or the other that is.

Does anyone know if they are rumours of CSR being a takeover target as this would explain the rise

 

[TheRage]

I haven't heard any rumours yet but an article in the age the other day suggested CSR would be likely target. I am new to charting but I agree with Kauri chart. I am holding for now as this company is still fundamentally strong and hope the rumours continue.

 

[noirua]

I'm out of this one. Good luck to everyone, hope you make a fortune.
Too far, too fast.

 

[Buster]

Hey Kauri,

Still looking for 4.20 area, bit of a pause at recent high, hope it won't prove too difficult to overcome.

Wow.. what a call, and they've smashed up .27c today.. I must persist in learning to analyse charts. I'm hopeless at it but it seems when you know what you are doing (as you obviousy do!!) it can pay off quite nicely.

I bought at the end of last year for 2.84 (fluke) and was not entirely happy with my assessment, but went with the gut feeling in the end.. Even Mugs get lucky sometimes..

Regards,

Buster

 

[noirua]

ASX: Dow Jones Release http://www.asx.com.au/asxpdf/20070117/pdf/310jw01tfgqkls.pdf

 

[TheRage]

She's all over the shop at the moment. It's gone as high as 4.02 then down to 3.78 and now back on the climb. This volatility makes me sick in the guts.

 

[TheRage]

UPDATE 1-CSR says not aware of bid, shares retreat

Wednesday January 17, 2007, 12:15 pm



(Adds details, fund manager comment)

SYDNEY, Jan 17 (Reuters) - Australia's top sugar producer CSR Ltd. (ASX: CSR.ax) said it was not aware of any bid for the company, sending its shares into retreat after they surged more than 9 percent on market talk of a private equity takeover.

ADVERTISEMENT


"We are not aware of any impending takeover bid for the company," CSR said in a statement to the stock exchange.

The stock had risen as much as 9.2 percent to A$4.02 on talk of an offer at A$4.30 per share as soon as Wednesday afternoon, but by 0105 GMT had pulled back to A$3.79.

Private equity funds stepped up their investments in the Australian market last year, chasing underperforming companies and those with low debts, with more bids expected this year.

CSR, which also makes aluminium, bricks and roof tiles, has been talked about as an attractive candidate for private equity investors.

"There is potential there for (a bid) to happen because it has various assets. It potentially is a candidate," said Robert Hook, a fund manager with S.G. Hiscock & Co.

CSR Chief Executive Alec Brennan said in November that the feverish level of private equity activity in Australia could spur a break-up, although it was not the right time to sell.

He said then that CSR was constantly looking at opportunities to sell off parts of the company to improve value to shareholders, as it did when it spun off its heavy building materials arm as Rinker Group Ltd. (ASX: RIN.ax) .

 

[Kauri]

Well either the smart money knows better and/or the punters don't believe or care about the Co's denial. The only thing that has changed for mine is that the freely circulating rumour is now out in the open. Unless things change dramatically I am still looking initially for the 4.20's. :hide: Still expect the recent high to be an obstacle... (temporary I hope)..

 

[TheRage]

I don't know whether Perpetual know something or not but they just realised an anouncement where they bought 10,000,000 shares or another 1% of the company. They now own 6% in CSR. They seem to have knack at buying big positions just before takeovers. Things are starting to get interesting. No doubt their buying is the reason for some of the price rise.

 

[noirua]

I'm not in CSR anymore, however, this may be of interest: http://www.aireview.com.au/index.php?act=view&catid=8&id=4855&setSub=1

 

[noirua]

I'm not in CSR anymore, however, this may be of interest: http://www.aireview.com.au/index.php?act=view&catid=8&id=4855&setSub=1

CSR have fallen back to trade at just $3.59. Before I consider getting back in again. I wondered if anyone had further views on the break-up that was discussed or whether the previously aired takeover report is now gone.

 

[Seneca60BC]

what is your time frame? 1 month or 12 months?

 

[Kauri]

Maybe starting into a 5th leg.... if so 4.20's still looking OK

 

[Goldbug]

Maybe starting into a 5th leg.... if so 4.20's still looking OK

It will be interesting to see on Monday if it holds the $3.60 support after the washup in overseas markets. mmm.. at least sugar prices were up.

 

[UMike]

This one might get tasty soon.

$3.49 and falling.

 

[TheAbyss]

Had an interesting conversatioon yesterday regarding a new sugar refining method which makes it safe for diabetics to use. Does anyone know anything about this?

This could potentially increase sugar sales. What impact the artifical sweetener manufacturers?

 

[noirua]

Time for me to dive back into CSR as comments around the Rinker Group have spilled over into conversation about the original split from CSR Limited. The shares and options are, weeeeelllllllllllllllllll, very interesting, I would say.

 

[noirua]

Time for me to dive back into CSR as comments around the Rinker Group have spilled over into conversation about the original split from CSR Limited. The shares and options are, weeeeelllllllllllllllllll, very interesting, I would say.

After the fall back just after I bought I'm starting to wonder now.

 

[noirua]

Talk in "The Australian" today, speaks about a possible private buyout or bid for CSR.

 

[noirua]

CSR are up to $3.82 this morning after the publicity surrounding their siamese twin, Rinker Group. M & G Investments have again raised their substantial holding. CSR, at last, have a rosy look about them.