Advertisement
From STO:
Makes no sense to me if you accept that the Sceptre bid if fair dinkum. The rights issue is is priced at $3.85 so it’s a massive discount to Friday’s closing price and 44% below the takeover price. But there do seem to be reasonable doubts about Sceptre!
About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
Advertisement