It's very difficult for me to make a judgement on that - it's a day-to-day proposition really, isn't it? |
Now he's being given the opportunity to buy back effective control (of Virgin) at 1.40 aud (a share), so it is an extraordinarily wonderful situation for him. I hope he hasn't danced on my grave prematurely. |
Now it turns out that this is considerably more money than these ferries actually make, |
Originally Toll wanted to buy that through Pacific National, |
Our long-term capital investment program in ports will move to a new phase next month with the opening in Brisbane of our world-first automated straddle carrier terminal, |
Patrick regards its prospect for growth in freight forwarding as greatly superior to Toll given that Toll is already the dominant supplier in this market with no significant prospects for future growth. |
The bid is ill-conceived, poorly structured and offers Patrick shareholders a diluted interest in the high-quality businesses Toll wants. |
The Board strongly believes that, based on this offer, Patrick shareholders are better off without Toll in the medium and long term. Patrick has far superior businesses and significantly greater growth prospects relative to Toll. |
The support for cleaning this up, I have to tell you, is overwhelming. And it is about time we got on with the job of cleaning up the waterfront and making it a productive place for all Australians. |
The Toll bid is an act of desperation, |
The Toll bid was ill-conceived from the outset. It has been a failure of both strategy and execution. |
There's a risk I suppose that Pacific National is broken up and that's a route that seems inevitable, |
There's a risk I suppose that Pacific National is broken up, and that's a route that seems inevitable. |
These people are desperate to do any deal anyone puts on the table. |
Toll can pay more, Richard Branson can pay more and the Virgin Blue in specie distribution can be monetised. |