Billionaire forced to raise bid for Pact
Even hard-nosed billionaires can yield to minority shareholders in takeover situations, as seen last Monday.
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Pact Group Holding’s vision is to lead the circular economy through reuse, recycling and packaging solutions. It’s a future-driven group commitment, designed to create lasting value.
This demands smarter ways of reducing waste by continually reusing and recycling resources to keep them in circulation well into the future. Since 2002, we’ve been at the heart of this. For us, it’s about finding new and better ways of doing things. Ways to grow business, to give back to the environment and to enrich people’s lives every day
Even hard-nosed billionaires can yield to minority shareholders in takeover situations, as seen last Monday.
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Minority shareholders in Melbourne-based packaging company Pact Group (ASX:PGH) find themselves at a crossroads in the face of a 68 cents per share cash buyout offer from the company's chairman and largest shareholder, Ralph Geminder. Just thirteen months ago, the share price stood at approximately $1.44, but with the recent buyout proposal, it has plummeted to 68 cents.
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Melbourne billionaire Ralph Geminder is taking his Pact (ASX:PGH) packaging group private after conceding that there was very little investor support for the stock.
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Melbourne-based packing group Pact (ASX:PGH) faced significant challenges in the 12 months leading up to June 30, resulting in financial losses and the omission of a final dividend.
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A mixed bag in Monday's ASX session, with Pact Group taking a big hit on a profit warning and TPG coming back for another bite of the InvoCare cherry.
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Another full news day on the ASX with the reporting season picking up steam. Here's the latest from some local industrial companies: Pact Group, Vicinity Centres and Downer EDI.
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For the second time in six weeks, shares in Melbourne packager Pact Group (ASX: PGH) have been hit hard by weak trading news, falling more than 12% in Monday’s trading session.
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Good news and bad from the pandemic for two mid-caps yesterday and the shares of the two went in very different directions while an attempted takeover in gold is getting scrappy.
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In more normal times - and nothing is normal at the moment - low oil prices benefit the global economy and stocks such as manufacturers and transport companies. Tim Boreham outlines those Australian companies which stand to benefit from significantly lower energy prices.
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Credit Suisse observes contract manufacturing was very weak in the first half while the volume erosion in packaging continues.
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