Fosters' bid for SRP

[GreatPig]

Fosters' bid for SRP is $4.17 a share, with the closing price at the time of the trading halt last week $4.25. This morning the price has jumped up to $4.70.

Edit: now $4.65.

Is the market hoping for a higher offer, either from Fosters or someone else, and do you think Fosters will get it for anything like $4.17?

Cheers,
GP

Disclosure: I hold some SRP.

 

[Bingo]

The offer is below what they expect to pay in my opinion. It really depends on alternative bidders, however, I think that SRP is a good buy and the final price will be at least $5.00. The FGL timing of the bid is perfect.

Bingo

 

[GreatPig]

I think that SRP is a good buy and the final price will be at least $5.00

Well I wouldn't complain about that , although I only have a relatively small number of SRP shares.

GP

 

[Bingo]

It's all relative. I have been a keen buyer starting at about $2.80. I have a good friend who complains each time we meet about the fact he is in at $8.50. This bid will not get him out.

Bingo

 

[Bingo]

I liked the look of the price today so bought more at $4.56. Time will tell, but believe that it will go to $5.00 in next few months.