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SHP / SHN deal is off

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SHP / SHN deal is off

They couldn't agree on a price (share swap ratio) so the deal is cancelled and both shares are now up almost 8%.

 

As a long-term SHP shareholder I am happy, sure a merger wold've created a giant African retailer, but I own SHP for a giant African food retailer and if SHN wants my shares they must pay up. Something that seemingly they won't do.

 

Further if I want non-food African retail I can buy SHN.

Simon
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Re: SHP / SHN deal is off

You dodged a bullet. SHP is a terrific asset.

Why on earth would conservative SHP shareholders want to own the dregs of the SHF portfolio?

End of life HIFI and IT retailers with a bit of dodgy furniture for good measure and then some other bits and bobs ... the transaction was a self-serving ("-enriching?") disgrace by Wiese/SHN!