Huh!
another takeover of a large Australian institution.
I have done well out of CSR, buying a year or two ago at $4.56 purely on a yield, and mean reversion, thesis. I was at no point expecting a takeover. Occasionally one gets lucky - it ended up being 3.5% of my Super, not huge but meaningful. Makes up for a number of other swings that....missed.
This probably weakens the thesis for the ASX I recently put forward in the forum.
This looks very likely to get over the line unless the FIRB causes problems. I can't see why they would, but then, you know, they are...... French!
As an adopted Kiwi, and now Australian, there is a certain Schadenfreude about the Australian rejection of the French subs. The Rainbow Warrior incident has largely faded from public consciousness. But revenge is a (submarine) dish best served cold: a saying, ironically, attributed to a Frenchman (the author of Les Liaison Dangereux).
Anyhoo, I'll stop beating up on the cheese-eating surrender monkeys, and go back to my glass of Bordeaux....
For anyone offended by my Gallophobia, I apologise, but it is all in jest. I'm off to live there for a year or two in 2025 - can't wait!