Etrade - ANZ takeover - Aussie Stock Forums

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  1. #1

    Default Etrade - ANZ takeover

    ANZ has made a cash offer of $4.05 per share. Why is etrade current price action around $4.25? Who is buying stock at that price when the likelihood is they will be required to sell to ANZ at $4.05?

  2. #2

    Default Re: Etrade - ANZ takeover

    Caledonia Investments has a 12% stake in Etrade and it says it won't be selling its shares at $4.05. Also IWL has taken a small strategic stake (not yet 5%) and may be looking at making its own offer for Etrade.

  3. #3

    Default Re: Etrade - ANZ takeover

    Is Caledonia's move just to hold out for a better price (revised offer) from ANZ?

    PS - Sorry deft, now found this - thanks for the tip off!
    Last edited by Bin57again; 21st-March-2007 at 01:28 PM. Reason: New information come to light

  4. #4

    Default Re: Etrade - ANZ takeover

    I'd say $5 would get most people to sell, it's a good asset but the problem with getting someone else to take it over is ANZ's 34% shareholding, they seem happy to sit on their shareholding if they don't get all of Etrade, so I'm not sure of IWL's strategy

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