In today’s briefing:
- Adbri (ABC AU) Warms To CRH/Barro’s Offer
- EQD | S&P/ASX200 Pullback This Week: Where to Re-Enter LONG?
Adbri (ABC AU) Warms To CRH/Barro’s Offer
- Construction play Adbri (ABC AU) has entered into a process and exclusivity deed with CRH (CRH US) and 42.7%-shareholder Raymond Barro (Chairman) in order to progress to a firm transaction.
- CRH/Barro’s non-binding indicative proposal of $3.20/share (in cash), by way of a Scheme, is a 41% premium to last close. The proposal is best & final.
- Subject to DD being carried out by CRH, this looks done.
EQD | S&P/ASX200 Pullback This Week: Where to Re-Enter LONG?
- The S&P/ASX 200 INDEX is currently up 3 weeks and OVERBOUGHT, a correction is expected very soon, probably this week.
- The pullback is an opportunity to add LONG positions, the area to enter LONG is 7400-7300.
- If the rally continues after the pullback, it can continue into the end of January.
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