LWR has extended it’s takeover offer for POD yet again. meanwhile POD announced that it’s prospective sale of a 3.58hectare industrial site has been withdrawn.

Why do I smell a rat?;

  • The property sale was reported to be a sell and lease back arrangement but POD now tell us that the property is unsuitable for the prospective buyer. These two statements are dichotomous
  • The offer has already been extended once and is only at just over 50% currently
  •  The shareholding directors accepted the offer quicksmart
  • The independent directors committee is yet again contacting shareholders encouraging them to accept the offer – mainly based on a Ferrier Hodgson report

It all seems a little strange to me….. but perhaps that’s just the world of M&A’s….

Ben Kepes

Ben Kepes is a technology evangelist, an investor, a commentator and a business adviser. Ben covers the convergence of technology, mobile, ubiquity and agility, all enabled by the Cloud. His areas of interest extend to enterprise software, software integration, financial/accounting software, platforms and infrastructure as well as articulating technology simply for everyday users.

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