Time for Roc Oil Investors to Sell, say UBS

        0033 GMT [Dow Jones] UBS downgrades Roc Oil (ROC.AU) to sell from neutral, saying now is the right time for investors to support an A$0.69/share cash bid from Fosun International (0656.HK), which is unlikely to be extended beyond Nov. 14. According to UBS analyst Nik Burns, the only remaining question is whether Fosun will reach a 90% interest in Roc Oil before the offer closes. If Fosun reaches 90%, then it's likely to start buying up the remaining stock compulsorily. "If Fosun ends up with less than a 90% stake in Roc at the offer close, Roc will remain listed, but the liquidity in Roc would reduce substantially," Burns says. "We expect the share price would fall." ROC last traded at A$0.68. (david.winning@wsj.com; @dwinningWSJ)
        (END) Dow Jones Newswires
        November 13, 2014 19:33 ET (00:33 GMT)