MM has a 3% holding in ALU which is benefitting nicely from the recent $38.50 bid from US tech giant Autodesk (ADSK US). On balance we believe another bid in excess of $40 is a strong possibility.
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Reporting season has taken a positive turn – James Gerrish breaks down some of this weeks action.
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Thursday 11th September – Dow off -220pts, SPI off -20pts
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Wednesday 10th September – Dow up +196pts, SPI down -4pts
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MM remains bullish ALU targeting further corporate activity above $40
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