Swire launches takeover bid for HAECO
 

Swire launches takeover bid for HAECO
Interesting news prior to Merlin arriving.

Hah. In 2010 the price was 105 HKD (when Swire bought out Cathay)

Eight years of leadership, and the price is now 72 HKD.

TTW

That's one way of looking at it Freehills.... Here's another way......

The HAECO 2017 Annual Report tells us that young Merlin held 19.75m HAECO shares and a further 15m Preference Shares. Assuming that Swires are buying all the shares, Merlin saw his investment "pop" by $834m on Monday and he will get a cheque from Swires for circa $2.5bn (yes... With a B!!!) early next year.

As any HKPA person will tell you, HK's an expensive place and young Merlin with need every last billion to establish himself in HK. I guess the $2.5bn will take the sting out of any freeze in bonus as a result of the Fuel Hedge debacle.

Lets hope the HKAOA manages to agree some concessions to help the shareholders at this most difficult time:ugh:

Is this a good time to bitch about 13th month on yammer?