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CML - Coles Myer

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Lets hope someone else does come in.I have been in and out and made reasonable money but was holding out for the takeover
 
hello,

fletcher and board will have to come up with some incentive to hold this stock in the future

prior to speculation was at around 11.50 and they have just knocked back 15.45, they would want to have something up their sleeve

being advised by carnegie & wyle, so hope their right

supacentre's - where abouts, they have just cleared out Megamart

thankyou
robots
 
It will be some time before CML's price exceeds $15.25 I would think. Regards YN.
 
alankew said:
Seems reasonable Julia except that the price has gone subsatntially lower today
Click to expand...

You answered your own question two posts down - withdrawal of the offer.

Julia
 
Anyone gpt any thoughts or news/gossip as to why coles has been going up lately.I know they have a trading update coming up soon but is it possible that someone else is looking to takeover coles?Still holding after dipping in and out and finally getting caught out with the failed takeover
 
It's interesting huh... KKR have withdrawn their bid and the sp is still up about 30% on the pre-takeover sp. It's definately being propped up by lingering takeover speculation amongst the institutional investors and hedge funds.

Alan, I also got caught out with the fall after KKR withdrew. I got out a few days after the big drop, at $13.60, and am still on the sidelines.
 
If the take over news fades the price might drop back and present a good buying opportunity.
 
Coles have had a bit of a run the last few weeks,anyone any idea whats behind it.Perhaps good sales figures leading up to Christmas or hopefully(still holding at a higher price)another takeover offer
 
Quick look at a chart with my untrained eye and it seems as though it may have broken out of its recent trading range.Anyone care to comment or are you all Woollies shoppers
 
alankew said:
Coles have had a bit of a run the last few weeks,anyone any idea whats behind it.Perhaps good sales figures leading up to Christmas or hopefully(still holding at a higher price)another takeover offer
Click to expand...
Another takeover bid is not out of the question, whether it be from KKR again (despite management wanting nothing to do with Coles anymore) or another private equity consortium. IMO, recent sp action is indicative of this.
 
Any reason for the recent strength of coles(particularly today)I would imagine a Christmas trading statement could be out soon or is it possible that takever talk is being revitalised.SP almost back to levels prior to KKR offer
 
Talking to myself again.Chart posted below hopefully
 

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Sorry forgot to add that it looks to have broken out of recent trading range but not sure if it is outstanding
 
alankew said:
Quick look at a chart with my untrained eye and it seems as though it may have broken out of its recent trading range.Anyone care to comment or are you all Woollies shoppers
Click to expand...
I work for WOW does that count :
 
Hi Alan,

Still holding this? I think the code needs to change to CGJ - will sort that out.

Chart wise, yes, $14.00 clear support IMO and generally heading up over the past year. This double top at $14.80 ish is a concern though. MACD just turned bearish.

Not sure how this will fair with a correction (which I think is due) but probably OK, being a consumer staple.

I actually prefer WOW (owned it previously and will again after the market settles a bit)
 

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Kennas still holding,I think there is a trading update or results due soon and with the talk of a takeover resurfacing will continue to hold.Weak numbers are expected to encourage a bid and likewise good numbers will go someway to proving that management were correct to reject original bid-a win win situation!(cant find the fingers crossed smilie)Thanks for the chart.
 
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