It looks like the retail investor-led resistance at mining services group MACA Ltd is starting to crack.
MACA’s big institutional shareholders - Samuel Terry Asset Management, Paradice Investment Management and Schroders - have all accepted suitor Thiess’ bid in the past few days, deciding it’s not the type of market to snub an all-cash bid at a 49 per cent premium to the one-month VWAP.
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Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
