Bumi quick snippet – Bakries/Tan about to bid for the entire equity?

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We have covered Bumi extensively in recent months (see tabs to right under Blog categories), riding the re-rating from the lows of 170p exceptionally well. Click the image at the bottom of here to receive a free e-guide that covers Bumi in depth and our assesment of value and the end game.

The price action in the last 3 days makes me believe that the final chapter is about to play out here. To us, this can only be the Indonesians making an offer for Bumi Plc’s London list equity at a level that tempts the UK shareholder base to sell – this is likely to be in excess of the 430p+ currently on the table and towards 500p. It is the only way for the Bakries and Tan to cleanly put Ol Natty to bed.

Bumi 10 day chart

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