Being local to wellington, you may be more closer to the news than us Aucklanders.
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you must point to this one, its speculations:
Noting recent speculative references in the media about Z potentially being anacquisition target Mike commented, “We are always very conscious of complying withour continuous disclosure obligations and we don’t think it’s helpful to provide commentson market speculation. Although we have discussions with other parties and activelyconsider opportunities that may arise from time to time, there is nothing in this area whichrequires disclosure. The Board will always consider proposals that may be in the interestsof the company and shareholders.”
What about poor old ZEL, it is looking a bit neglected today:(
More serious discussions to be advanced over the weekend and trading halt Monday morning. You read it here first.
From Credit Suisse notes:
"The broker believes an acquisition could have merit because of potential procurement and retail synergies. That said, Z Energy may not be the highest priority opportunity for Ampol and an acquisition would properly require an equity issue."
Let's prepare for trading halt on Monday!