Sat 11 Sep 2010 4:51
Stocks in Brief | Update

Jupiters Limited

7 Mar 03 | Issue 122

Investors holding shares in this casino company have finally received details of the takeover bid from Tabcorp. And to be quite honest it's messy. But there should be some upside from here depending on a few variables. For every 100 shares of Jupiters, shareholders will receive 24 Tabcorp shares and $285 cash. That equates to $5.19 per Jupiters share given the current Tabcorp price of $9.76. Then Jupiters shareholders will also receive a fully-franked special dividend of 75 cents per share. They will also receive proceeds from the sale of the Centrebet division which, quite frankly, could be anything between 30 and 75 cents depending on the final sale price. Add them together and adjust for your individual tax situations and we believe there is some upside from here. It won't be huge but the risks are low. However, there's plenty of other opportunities for those that don't want to spend a day at the accountant working out the tax implications from this. HOLD FOR THE UPSIDE.

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JUPITERS | JUP
UPDATE
HOLD FOR THE UPSIDE
Price at review: $6.20
Most recent price: N/A
Change since review: -100.00%