Incitec Pivot Ltd T.IPL

Full Marks?

[marketsense]

Disagreee with oldfarts post analysis.  The initial offer from Brookfield at $16.50 would never
have been accepted by shareholders.  You are assuming a lot there and yes,  PPL came in to make it interesting and worked the bid price up but they were hardly a "white knight" IMO.  I
think IPL sold themselves too easily and too quickly.   The pressure didn't come from the lenders
but from the large institutional stock holders as I recall.    IPL lending lines were stretched but not
not in trouble.   

As for HPC,  it was a huge risk but as time went by,  the risk was beginning to diminish.  Any 
project of that size and technical difficulty is bound to have cost overuns despite mgmts best
attempts at keeping costs within budgets.   Remember too this was also during the midst of a  
covid pandemic which took its toll.