http://nzx-prod-s7fsd7f98s.s3-websit...608/314714.pdf
Winner reckons any dividend paid comes off the $7 price which seems grossly iniquitous to me. Might be some detail in there if you're keen to have a detailed look.
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http://nzx-prod-s7fsd7f98s.s3-websit...608/314714.pdf
Winner reckons any dividend paid comes off the $7 price which seems grossly iniquitous to me. Might be some detail in there if you're keen to have a detailed look.
Considerationmeans NZ$7.00in cash in respect of each MET Share held by a Scheme Shareholder as at 5.00 pm on the Scheme Record Date,as reduced by the per MET Share value of any other dividend, the record date for which falls between the date of the Scheme Implementation Agreement and the Implementation Date;
Although allowing a dividend is a common takeover sweetener used to create a slightly higher effective price.
This is sometimes needed due to valuation reports or to get sufficient acceptance. Its possibly a bit less likely this time because there are limited/No wasted imputation credits.
With the percentage declining significantly of institutional shareholders who have in principle agreed to $7, (in the absence of a better offer), I can see this being much more of a fight to get this over the 75% line. A fight means its more likely we'll get some kind of sweetener, either an improved offer or a special divvy.
The half year result in February could be quite a good one given the delivery of a lot of units late in FY19 that will have been selling down in 1H FY20 and could muddy the waters further. I wouldn't rule out the possibility of one of the other interested parties bidding for this once the appraisal report is out.
OIO approval or not is another potential twist in this potential plot.
In short, we don't know anything more, best to await developments.
:mellow:
Silverblizzard and bull almost have the world ending because of this virus ...at least mini recessions and the old dying ...etc etc
Might be seen as an adverse event and the MET deal is off
UBS bought up big last week
Increased offer on way no doubt
http://nzx-prod-s7fsd7f98s.s3-websit...563/315753.pdf
Wouldn't be surprised if the selldown in MET by the two funds is directly related to the OCA placement.