TENON

[ari]

Quotes from NZ Herald....same article....

quote:Rubicon argues that the $1.15 a share shareholders are getting from Tenon's forest sale is not guaranteed........

quote:Rubicon will ultmately fund the offer from a return of capital from Tenon's forest sale

Call me old....but don't call me stupid.........

[willy_wonker]

Ari, chill out mate. GPG/RBC cheeky takeover offer is all part of the game. This should make you smile.

RBC Sweetens Deal

http://www.stuff.co.nz/stuff/0,2106,2902215a13,00.html

[ari]

WW..I was aware of that...it was actually in same article as quotes...

ari don't bother WW can only understand the headlines and you can not call it a sweetener when you read the text

[ari]

Exactly Enigma....like...

quote:you have no downside in accepting our Offer should a higher cash offer for 100% of the company (on no less favourable terms and conditions than our Offer) be made prior to our Offer being decared unconditional

And whom is going to unravel the fine print should matter come to this....keep it simple and don't sell
What Rubicon are really saying, is that there is 'no downside' for them whatever they do....ie not successful with bid, stay on for the ride. Successfull with bid....use Tenon funds to complete.

[digger]

If RBC r sucessful in getting 50.01% will that mean they can scuttle the next $1-15 payout???

[ari]

Seconds out.................
Independent Adviser, Grant Samuel, has assessed the fair value of Tenon in
the context of a takeover Offer, to be in the range of NZ$2.01 to NZ$2.22 per
share. Rubicon's partial Offer price of $1.85 therefore undervalues Tenon by
between NZ$45 million and NZ$103 million.

[Prophet]

We all knew the mob at RBC where a bunch of burglers. Grant Samuel report proves that

I will NOT be SELLING!

[digger]

Surely this takeover is dead in the water. Anyone wanting or having to sell would have surely done so by now at prices above 1-85.
Yet u know some will not understand the market and sell into this lower figure,still it will be nothing like enough to reach 50-01%.I can only think of a large holder who could have not had the opportunity to already sell,yet at this low figure the large holders are the least likely to get out. It is dead.RBC should either raise the offer or bugger off and stop making a fool of themselves.

[ari]

quote:Yet u know some will not understand the market and sell into this lower figure

What a fickle market......with the drop today are the punters giving credit to RBC buyout[?]
Surely the no sell would have given the other signal...it did to me,but what the fek do I know[?]
Large volumes trading around 4.00pm