Block offers for HFCK and CMC today: a takeover?
There were block offers today as follows
HCFK 1,600,000 shares @ 35/= representing 1.4% of the company's shares
CMC 1,000,000 shares @ 85/= representing 2% of the ompany's shares
Both offers represent are at a premium from the price prevailing at the market. (ie HFCK 17%, CMC 13%).
Could someone be working to build a sizeable stake in the two firms? HFCK is particularly intersting as it comes months after collapse of talks between Trancentury and CDC regarding the former's interest in buying CDC'S 24% stake.
posted by gathinga at
3:07 PM
4 Comments:
hope that is good news for HFCK bought it at Kshs 28 and it has not moved up at all and hey good luck on uchumi although if things work out well yu will make a killing
anon: thanks
The shares offered (by themselves) aren't sufficient to indicate a takeover BUT if they are added to an existing portfolio they can give significant control to a major shareholder.
Gathinga whats your take on CMC with all this 25 seater matatu issues going on do you think their earnings will soar ?
As they stand to benefit the most.
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