Potentially an out of date note before this report hits your inbox but yesterday saw ALU experience some wild swings on rumours that American software company Autodesk had withdrawn its $38.50 bid. There was also talk that they had ran an increased offer of $40 past the board only to get the cold shoulder, the company announcement from ALU was very thin on details implying they weren’t 100% sure what comes next, our take:
- ALU may be playing Russian roulette with the Americans in the hope of securing a higher price
- As holders we would be delighted with any opportunity to lock in some profits above $40
MM remains long and bullish ALU
Add To Hit List
