Hi 3 view of a secret,3 veiws of a secret said:I drove my son to soccer training tonight ,and read the current november 2006 Smart Investor in the ute.If you have a copy turn to p.64......it's funny how you spot a share like ENE and think geeeee this sounds positively interesting.
Do any of you hold this share in your portfolios? just curious,I'm particularly interested in the offshore exposure,and "green" element as the entree .
Interesting to see what comes of it.Ann said:Energy Developments Limited (ASX: ENE or the “Company”) announces today that it has
received an unsolicited, highly conditional and incomplete proposal from a consortium of
private equity funds (“Consortium”) in relation to the acquisition of 100% of the shares
of ENE (the “Proposal”). The Company’s largest shareholder, Infratil has indicated its desire
to consider entering into an option agreement with the Consortium which would give the
Consortium a conditional entitlement to 19.9% of ENE shares on issue. Infratil currently
holds an interest in ENE of approximately 32%....etc etc
this is still in discussion, obviously there are other interested parties, which is why the board hasn't made any decisions as yet. in the mean time, u will need to sit tight and hope for a bidding war...i saw this ann before i went to bed last night.
i bought in this morning at 2.22 but it seems to be moving slow despite the announcement. although it did already open at +9% lol
how would 100% acquisition work anywya? does the company send out letters to shareholders to buy their shares?
oh i noe its just speculative right now. but its worth a short term punt. theres always somebody else who thinks the sp will go up.this is still in discussion, obviously there are other interested parties, which is why the board hasn't made any decisions as yet. in the mean time, u will need to sit tight and hope for a bidding war...
Greenspark's takeover offer is now unconditional and today they started buying on market at $2.75 after today's volume of sales (712K) its safe to say they have over 49% and the offer expires on Friday the 22nd so its a done deal.New takeover bid announced today @ 2.75 supposedly with support of some major holders representing 42.4 % of ENE stock...considering they only need 51% it would seem to be almost a done deal.
As a small (long term) share holder i wont be excepting any offer under 3.05 and would be pissed off to have to take the current offer price.