Media reports on a takeover bid for ERM from Royal Dutch Shell.
AFR cite:
- has offered $2.465 a share
- values ERM at about $620 million
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The thing about this sort of news for forex flows is that by the time it hits media the flows are done and/or hedged most of the time.
Also, a 620 million AUD flow is not huge, BUT …. its not like its a speculative FX flow that'd be unwound on a bounce for AUD/GBP, so it does have some significance.
