M&A arb fund Harvest Lane reckons the bid is too low, and made its case to like-minded investors and clients this week.
While Harvest Lane’s shareholding is tiny, Street Talk understands it’s not the only one none too stoked about the valuation.
Meanwhile, proxy advisers have started to lob their approvals of the bid, starting with Ownership Matters. But valuation has always been a matter for fund managers and not proxy advisers.
With two weeks until the vote, API shareholders may be in for some last-minute action as fund managers start to rethink the bid.
Whether it’s just noise or turns into something is yet to be seen.
Elsewhere, digital bank Alex Bank looks ready to try and replicate Judo and Volt’s capital raising success and Cleanaway Waste Management’s top brass have the sell-side analysts’ attention.
Old head brokers and fund managers swear there’s way more to reporting season than numbers on a P&L or outlook statements. The real gems are read between the lines.
