FRS - Ferraus Limited

[shinobi346]

They, like BRM, just told the limosine company to take a hike so we will probably see it fall a bit from here.

 

[mr. jeff]

Have had a look into the bid ( received formal bid stmt. today ) and it stacks up like this:

6 Wah Nam shares per 1 FRS.

at current price of Wah Nam sp = 1.64 HKD, (code on HKex is 159)

6 x 1.64 / 7.6 (HK$'s per AUD$1)

gives you $1.29 for FRS shares which currently sit at $ 0.97. sounds great put like this. The reality is a little different it seems, an all scrip bid that went down like a lead balloon.

Interested to see what FRS comes up with next.

 

[shinobi346]

Takeover offer extended to the 16th of Feb. No surprises here.

 

[mysteriousbrad]

So whats going on with the WNI takeover bid... are they just wasting their time?? Extended til the 15th of March now.

 

[mysteriousbrad]

What are peoples thoughts on WNI dropping the Acceptance condition and FRS's reply??
Seems like BRM is very close to the new 50% threshold.

 

[YELNATS]

What are peoples thoughts on WNI dropping the Acceptance condition and FRS's reply??
Seems like BRM is very close to the new 50% threshold.

Please refer to the last few entries on the BRM thread.

 

[mysteriousbrad]

Well this is interesting... Atlas (AGO) take over bid for FRS???

 

[adobee]

they go well together and increase the amount of port access etc available. ..
AGO is a quality operation..
Question is will the chinese increase their bid or go for something else..

 

[mysteriousbrad]

Question is will the chinese increase their bid or go for something else..

WNI has announced their offer will finish on July 15th! Looks like they are off after something else!

 

[shinobi346]

Looks like wham bam no thanks mam have conceded defeat and helped AGO cross the 90% line. AGO is now free to compulsorily aquire the remainder of FRS. No objections from me here.