Shortly before we went to print brick manufacturer and investment concern Brickworks (BKW - $6.62) announced a hostile takeover offer for Western Australian brick maker Bristile (BRS - $3.30).
The $3.15 offer is conditional upon acceptance by 50.1% of Bristile shareholders, who will still be entitled to the 9-cent fully-franked interim dividend (ex-date 1 April).
The stock is up 11% since last issue (Hold for the Upside - $2.98) and although the current price is higher than the bid price, we recommend you continue to HOLD FOR THE UPSIDE in the hope of a higher bid.
Our recommendation on Brickworks shares, which are up 14% since issue 108/Jul 02 (Hold for the Upside - $5.80) remains the same as well. HOLD FOR THE UPSIDE.
Sat 11 Sep 2010 5:21 
