RBD is in a mess at the moment so the buy price isn't going to be large but it will clearly top the current SP of $1.17.
Keep a close eye on the SP at www.nzx.com or at my Forum www.shareinvestor.biz
Happy Investing,
Share Investor
Tower ups stake in Restaurant Brands amid takeover talk NZPA Thursday, 22 February 2007
Tower Asset Management has increased its stake in Restaurant Brands ahead of a potential takeover of the fast-food company, The New Zealand Herald reported today.
Tower's latest buy was small – thought to be about 65,500 shares – but took its total holding to 5.04 per cent.
The Herald said it understood Restaurant Brands has engaged an investment bank – believed to be Macquarie Bank – to advise it about a potential sale.
Shares in Restaurant Brands, which owns the Pizza Hut, Starbucks and KFC franchises in New Zealand, closed unchanged at $1.14 yesterday.
In December, Restaurant Brands chief executive Vicki Salmon sent the share price up over 10 per cent when she noted people had been exploring the prospect of a takeover.
The Herald said at least two private equity companies are being mentioned in connection with Restaurant Brands – CVC Asia Pacific and Pacific Equity Partners.
CVC, a joint venture between CVC Capital Partners in London and New York's Citigroup, aborted a $1.65 a share bid in June last year.
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