11-12-2012, 10:56 PM
(11-12-2012, 04:29 PM)toiletsiao Wrote:(11-12-2012, 01:13 PM)greengiraffe Wrote: Red Lion roared past $15.50 with little resistance encountered. The previous sell order in excess of 200k is no longer there with only 69k done at 15.50 today.
It appears that Marathon's closing down sale may well be over and a stronger hands may well be holding GE shares now.
Given that OCBC controls slightly over 87% stake and Marathon was previously rumoured to hold around 3% stake plus some die-hard never sell shareholders, the strong hands that accumulated the rumoured Marathon stake would certainly be a force to reckon with.
More importantly, how can value for GE to unlock given that it is trading well below its embedded book value between S$17 - S$18 and certainly well below OCBC's previous attempts to privatise it around 1.5 times embedded book value.
Today is also officially the day Jeremy Hosking retires from marathon asset management...
below is an except from one of vanguard's funds recent prospectus
http://www.vanguard.com/pub/Pdf/sp129.pdf
Important Change to Vanguard Global Equity Fund
Marathon Asset Management LLP (Marathon-London) has announced the retirement of Jeremy J. Hosking effective December 11, 2012. Mr. Hosking is a co-manager of the Marathon-London portion of Vanguard Global Equity Fund. William J. Arah and Neil M. Ostrer, who serve as co-managers with Mr. Hosking, will remain as co-managers of the Marathon-London portion of the Fund upon Mr. Hosking’s retirement.
Ha so the stronger admirer of GE is celebrating the retirement of Hosking by buying up the less stubborn sellers post Marathon's rumoured liquidiation...