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International Investing / Australia (All-Ordinaries)


Subject:  Re: Perth Gold Conference Date:  4/10/2000  8:52 PM
Author:  jono202 Number:  1299 of 6186

But no Diamond Joe, flew over to watch the footy & flew back before the conference
Takeovers, who's buying tiger funds 11% in Normandy?

The latest hedge fund to collapse still owns a large swag of Normandy (NDY) – I can only presume that the fund has been a forced seller these past few months. Normandy itself has just announced a radical restructuring aimed at simplifying its structure and raising liquidity for future investment in gold.

It must now be odds-on that this remaining stake will be sold en-bloc to a single highest bidder (Anglo American?) who will then get rid of Normandy's CEO, Robert Champion de Crespigny and seek to break up this highly complicated yet valuable company.

I don't expect much more than $1.50 per share over the next year or so which still represents a 60% gain from the current 90 cent share price.

From Egoli full link

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