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Jupiters Shares Jump to Record High27 May 2002AUSTRALIA – As reported by the (Australia) Sunday Times: "Jupiters shares touched a record high and jumped close to 6 per cent last week as the market latched on to takeover talk and expectations for a stronger full-year result. "Jupiters hit a record high of $5.50 (US$3.06) during trading on Thursday, a day before Commonwealth Bank announced it had become a substantial shareholder with about 5.2 per cent. "…Institutional investors have warmed to Jupiters after it re-organised its capital structure in February which has allowed the casino operator to pursue its acquisition ambitions. But according to some analysts, much of the hype surrounding the Jupiters share price is speculation that instead of being a predator, Jupiters is the ideal takeover target. "The scuttlebutt centres on Crown Casino owner Kerry Packer or Victorian casino operator Tabcorp as the most likely suitors, although any move would have to be approved by the Queensland Government. "…With just one month remaining in the current financial year, Jupiters is on track to post double-digit earnings growth from last year's record profit of $77 million (US$43 million)…" |