Monday, January 29, 2007

Who is after Multiplex ?

Listed property trust, General Property Trust Limited (ASX:GPT), has denied that it is bidding for Multiplex Limited (ASX:MXG) after speculation was rife that it was in a joint bid with Babcock and Brown Limited(ASX:BNB). Recently, the construction company revealed that its largest shareholder, the Roberts family, had been approached but they had not mentioned who was the bidder.The potential bid lifted Multiplex's share price by over 17 per cent to$A4.85 to a market capitalisation of over $4 billion.. A private equity firm now seems the most likely bidder.

This is good for shareholders of Multiplex who have stuck with the company through the tough times.There is no word on the current bid price or any other deals but the market must expect an extremely high price at the rate it lifted the shares. Personally the poor management of projects has kept me clear of the company and I am just happy that the long term shareholders have received some payback for their trust in the company.

Good Luck Investing.

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