SED - Sedimentary Holdings

[pussycat2005]

TAKEOVER OFFER
Sedimentary Holdings Limited has noted the announcement by
AuSelect Limited of its intention to make a conditional takeover
offer for all of the ordinary shares of Sedimentary.
The Board of Sedimentary will meet as soon as possible to
consider the offer and will provide further advice to shareholders
in due course.
In the meantime, shareholders are strongly advised to take no
action in relation to the offer.

Presently trading at 29 cents

 

[jollyfrog]

WELL this is a interesting one! 8.5 mil traded today! Stock has jumped from .20c To .29c due to a takeover offer from Auselect! A major shareholder Lion Select is considering taking up the offer, however directors from sed are recommending doing nothing at this stage! Definetly one to WATCH! GOOD LUCK! guys & gals

 

[Absolutely]

I'd like to know if it is worth buying in at the current level.

Is it likely that the company will reject the offer then takeover bidder will have to up the price ? Is that how it works ?

This stock was recommended on this site only yesterday and I put it on my watchlistr. Shoulda bought.

 

[daa]

yea me too...would like to know how far this has to go?

 

[NettAssets]

Thanks to parmigianich

for the tip a couple of days ago in the AUM thread
John

 

[parmigianich]

Gruezi
I have had private messages from a few people now thanking me for the recommendation. I really didn't expect that anyone would have bought on my advise at all, even more so given the little amount of time they had before the announcement of the takeover offer. 40% in 24 hours isn't too bad is it. lol.

As for how far this has to run.. well they do say that the first offer is rarely the last and a lot of shares were bought Friday @$0.29- $0.295c. Newcrest may just decide they would prefer to have a 100% stake in Cracow rather than a new partner and come out with a higher bid. Though I couldn't imagine a bidding war taking place. SED may even release some promising exploration results or just come straight out suggesting the company is potentially worth significantly more than the offer. Maybe AuSelect will be forced to add a sweetener to their initial offer or maybe they will drop out. Maybe there is another 10/ 15% to be had for SED shareholders or maybe the current offer will fail without any subsequent bids and SED shares will drop a few cents or maybe the offer will pass as is. Who knows.

 

[daa]

thanx parmigianich for the info...i guess we will just have to wait n c...i would like to see a bidding war taking place...it will b my first...
as to newcrest...u said in the aum post the mine was to small for newcrest to have interest...?anyway goodluck to all holders

 

[x2rider]

Hi folks
Just read the lastest results that came after the market closed today . They looked like there were some good increases in minerals .
Does anybody think that this new announcement will see the board of SED turning down the offer ?
Really just after a lead . It has started to drift lowerr and am not sure why if there is an offer on the table . I'm not holding much butwas looking for a bit of upside that hasn't come
Thanks Martin

 

[parmigianich]

From letter to shareholders released today
"The board and its advisors are in discussion with other parties interested in
Sedimentary. There is a prospect that one of these parties may make an alternative offer for Sedimentary".