Re: Finemores to merge with Toll

["Adam Dunning" <adamdunning@start.com.au>]

Well finemores isn't merging with Tolls.  Toll intends to buy them outright.
They tried compulsary accuisiton but failed because Lindsay Fox owns 10.1%
of Finemores and wants something like 3 seats on Toll Holdings Board (10.1%
is probably worth about 0.1 seats or less).  At present they are trying for
a scheme of arrangement where Toll runs the company as it's own, but still
has to listen to other share holders (with 70% though, why would you?).  If
this fails, then Ron Finemore will wind up the company (declare it bankrupt)
and Toll WILL buy the assets at $2.30 a share, alot less than they are
offering now.

As for sending freioght by rail, not highly likely because of the type of
freight they carry.  The only thing that could possibly go on rail
economically is car components for  manufacturers.  Cars isn't because they
send them to Wagga and then distribute them Aus wide from there.
Refridgerated? Would depend on NR or someone getting their butt into gear
and organising refer wagons (SCT ??).

Also, rumor mill #152689425103 Toll Holldings would not be able to buy NR on
their own.  They would/do need a partner with rail experience if they are to
get NR.  FA is off of their short list because of the way they dropped the
Toll train like a hot cake.

Adam
(Toll observer, & someone who has watched Toll take over his fathers place
of employment for the last 27 years).


"Sam Eades" <seades@bigpond.net.au> wrote in message
IV3k6.34087$o85.173960@news-server.bigpond.net.au">news:IV3k6.34087$o85.173960@news-server.bigpond.net.au...
>
> > The problem with this idea is that Finemores are based in Wagga and
> > its very hard to see how a significant amount of their freight could
> > be moved by rail,given that Wagga or Bomen simply doesnt have any
> > large kind of marshalling yard.
>
> <wishful thinking>
> They could always build one
> </wishful thinking>
>
> Sam
>
>