BHP Message Board - Msg: 5455014

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Gold/Mining/Energy : BHP

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To: Thomas Haegin who wrote ()	8/10/1998 7:36:00 AM
From: Goanna	Read Replies (2) of 87

Strong Takeover of BHP Rumours In Australia From several different sources in Australia come rumours of $5 billion being gathered around the world by Shell preparatory to a takeover bid being launched.The funds gathering is now supposed to have been completed and held by a merchant bank in Australia. Shell would only be interested in the Petroleum Division, but Rio Tinto have already expressed interest in the Minerals Division. A joint takeover by these behemoths would not be beyond them as Shell is supposed to have 12 million pounds sterling in cash and no debt. A breakup value of BHP has been estimated @ between AUD$19 and $25 Billion. In addition another strong rumour today was that a new CEO would be announced by the end of next week and that the appointee would be a North American. Such an appointment would be treated favourably by the market. I have no financial interest in BHP and until today had no interest in buying them. I tried to buy some September 1998 call options today but the price got away on me.

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