CWN +16.57%: received another takeover bid today from its 2nd largest shareholder behind JP, namely Blackstone. This is now the 3rd time Blackstone have approached CWN and have now upped their offer to $12.50 cash, valuing the company at about $8.5 billion. They had bid $11.85 in March and $12.35 in May. The price in +25% premium to last close but remains conditional on a few things, including Blackstone doing due diligence on an exclusive basis and the global investment firm receiving final approval from its investment committee + they also want complete board support. We think a deal will get done here, however the market is rightly sceptical given recent history of failed buyouts. This is obviously positive for the shares + also positive for the Hybrids (CWNHB) we hold in our income portfolio.
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Gerrish: The correction is done, we’re positioning for what comes next
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A discussion with Geoff Wilson – Wilson Asset Management & James Gerrish – Market Matters
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Friday 9th May – Dow up +254pts, SPI up +3pts
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Gerrish: The correction is done, we’re positioning for what comes next
The Market Matters lead portfolio manager talks the recent recovery, Trump, gold, and why he thinks there's plenty of opportunities.
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A discussion with Geoff Wilson – Wilson Asset Management & James Gerrish – Market Matters
Recorded Monday 31st March
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Friday 9th May – Dow up +254pts, SPI up +3pts
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