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Myriam Robin

Molopo battlelines set

Myriam RobinSenior Writer

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ASX-listed Molopo is the battleground of the latest skirmish between veteran investment figures Geoff Wilson and Farooq Khan.

Molopo, which has more money in its bank account than in its market cap and so makes a juicy takeover target, has since at least 2014 been in the crosshairs of Perth-based Khan and his business associate Nick Bolton. Bolton is famous for having held the BrisConnections float to ransom in 2009, and was in 2015 banned from being a company director for three years by virtue – or vice – of his involvement in 13 company collapses. Khan and Bolton have offered a 13.5¢-a-share deal for Molopo, which involves less cash the more people take it up, with the difference made up by units in a new investment vehicle. But Wilson last Thursday emerged with his own offer. It's also at 13.5¢ a share, but unlike the Khan deal, it's all cash.

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Myriam Robin is a senior writer based in the Melbourne newsroom. She has previously been a Rear Window columnist and editor, and before that reported on financial markets and media. Connect with Myriam on Twitter. Email Myriam at myriam.robin@afr.com

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    Original URL: https://www.afr.com/brand/rear-window/molopo-battlelines-set-20171112-gzjz2l