Well, we know the following:
Access - Bought out by Dimension Data for 14/- when the going price was 9.50 though folks knew coz it jumped from 7 to 9-ish very fast and just before the Takeover was announced.
CMC - Not a great deal for current shareholders at 13/- unless there is a hefty dividend being paid as well. It was suspended at 13/- so there is an Opportunity Cost but at least the cash will be paid out. Better late than never.
Rea Vipingo - A cash offer by the 'parent' at 40/- for a share trading at 27/- but it seems the news had been leaked as the trades just before the announcement were significant for this thinly traded share.
So who is next?KenolKobil - Spurned by Puma/Trafigura. Rumors had the buyout price pegged at 21 but it was not to be. Add the HUGE hedge (Forex & Oil prices) losses. Then fights with KPC & KPRL. The CEO, Jacob Segman, was booted out. And the firm started consolidating its operations, put assets/properties on sale, etc. The management has indicated it wants to clean up the books, settle disputes where possible and then look for a Strategic Investor. Of course, this may also mean a buy-out.
Total - Well, Total Outre-Mer already owns 90% of the firm via a combination of Common & Ordinary shares. Just buy out the 10% & be done!
Pan-Africa Insurance - Sanlam wants to increase its stake to 60% (or more). I wonder if they will just make a bid for the entire firm at some point after they convince the larger minority shareholders? Or just go private with the larger minority shareholders and de-list?
Your thoughts?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett