Mr Market aligns as $85bn rail question barrels toward end-July deadline
…yet what comes next is anybody’s guess
On 8 July, Imperial Logistics stock hit a record high close to ZAR65 – almost perfectly doubling its 52-week low – thanks to a DP World proposal, that rendered a difficult pandemic for the South African firm more bearable.
According to the deal terms, the target received a “cash offer of ZAR66 per share”, for an equity consideration “of around ZAR12.7bn”, hence ~$890m given the exchange rate at the time (now worth ~$825m)*. It’s not a done deal yet, and judging by ...
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