WHOOT series update - WHoever Owns Outright Travel.com.au
The form 604s are flying thick and fast relating to Wotif's buyout plans for Travel.com.au. A 604 form is the "change of substantial ownership form". Through these forms we can track just how close Wotif is getting to owning Travel.com.au as the Dec 17 offer deadline approaches.
Tuesday Wotif hit 36.86%, yesterday 40.23% and today a massive 58.04%. The acceptances are flying in. No word in any of the filings if one of those acceptances is from AOT who before this rapid fire round of 604s owned just shy of 20% and seemed to be the only obstacle to 100% ownership for Wotif.
so what does AB achieve by not selling his stock ?
I it is a question when not whether he will. On one argument he could decide to sit on it for some time and wait for the control premium to rise. On the other side a quick exit with quick profits is very attractive. As the journalist that does not know the answer often says - we shall have to wait and see
is it a cheep way for him to have another one of his 100 fingers in the pie
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