RESTRUCTURING
MARC HASENFUSS: Looking for a cheeky company buyout offer?
Three dozen companies could easily justify pitching a buyout and delisting scheme. Here are the top bets.
Sombre times on the JSE offer opportunities to cash in on the trend of companies delisting after making an offer to buy out minority shareholders. It’s not that difficult to spot potential delisting candidates, even if, these days, the buyout premium offered to relieve minorities of their shares may not always be generous, or even fair.
Counters that are scantily traded with no need to raise fresh capital on the market are probably being prudent in going private. As are those with more cash than is needed to fund operations; those with a modest p:e multiple; or those trading at a vast discount to their assets...
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