From our friends in the media:
McGrath has struggled since listing in December. Shares in the blue-chip real estate brand have tanked 42 per cent since the start of the year, making it vulnerable to an offshore suitor seeking to establish a beachhead in Australia. Or at least that is one theory doing the rounds.
Certainly New York-listed Realogy Corp and local outfit LJ Hooker are said to be keeping a close watching brief on McGrath’s attempts to recover from the failed listing.
Trust factor zero.
