The Return Of The GE Rumour Re Brambles

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By Rudi Filapek-Vandyck

We’re pretty damn sure that an offer for Foster’s (FGL) seems rather unlikely, although admittedly nowhere near impossible. When it comes to GE and Brambles (BIL), however, we happily join the overall expert view that both could make an ideal fit.

Well, the rumour is back with our sources in the London market telling us GE is rumoured to go public this week with an offer in the vicinity of GBP6 per share for dual-listed Brambles.

The shares closed 2.5% higher on Friday at $4.68. Interestingly, the median price target in the market, according to Thomson One, is $5.44, more than 16% above Friday’s closing price. GE’s rumoured offer would still be at a premium to the median target.

Let’s see what happens this week as it is far from the first time a GE bid for the company has popped up and widely commented upon in the media.

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