Story of my life, sold out after their last announcement and today's a takeover deal
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Story of my life, sold out after their last announcement and today's a takeover deal
correct - should have said they need at least another 18.8%; If everybody who is eligible to vote is voting, they will need 75% of all votes - i.e. Baker Boys plus another 43,8%.
In reality it will be somewhere in between the additional 18,8% and 43,8%; Not that easy.
From a personal point of view - not sure I would want to give them my shares for only $2.90; Let's wait for the report - and what the NZSA has to say, but unless they better the offer probably voting against. I think TIL is currently quite nice positioned - no need to give it away.
More like $210M for ~ $21M EBITDA (assuming guidance is met)
At first glance it seems a little opportunistic.
Looking forward to the independent advisers report.
Got in a few years ago, participated in the capital raise, and purchased more recently so ultimately this will a be very good investment for me. Just feel like $2.90 is a little low...
Ignore above, just realised you were using EV. Although you may want to adjust for 2H cashflow effect :-)
I got to thinking this morning why the apparent free 5% lunch left on the table...Subject to Overseas Investment Office approval....I wonder how long that might take under a Labour government ?
I note Goodman Property Trust sold some buildings in Auckland and are still waiting for same nearly a year later...and that's mostly under a National Government.
I guess there's no land involved so that might help. Still what with all the time taken for the independent appraisal report and other formalities it could be many many months before one could expect a cheque. Some like you Balance are no doubt holding out for a better price.
Just putting it out there that OIO are taking a very long time to consider applications.
Balance I also think a further offer will come out of the woodwork the TIL share will be earnings accretive for the likes of BWX with a 45x PE, will be interesting how this pans out but puts a stick in the ground re worth .....
I would have preferred to get at least $3.20, but I'm happy to sell my shares at $2.90. I have a lot of capital invested in Trilogy which I like would to diversify into other investments. I also intend to reward myself with a Chanel handbag which I have always dreamed of owning someday. I have been rewarded very well since my first purchase in 2011.
I feel the board and management are accepting this $2.90 offer far too easily.
I remember at the 2016 AGM, someone during Q&A asked if there were any potential buyers for TIL.
Geoff Ross sarcastically joked something like "yes, we are a highly attractive takeover prospect..."
Then followed up with along the lines of "no... we believe we can provide alot more value for shareholders..."
During this time, TIL was trading at a bit over $4.
So doesn't seem right for Geoff to scoff at the idea of a takeover offer while TIL were over $4, then just 14 months later sell out at $2.90.
But things have changed .... TIL not delivering ......they struggling to grow ....and as said this morning things are going to take time
Was never really worth $4 plus .....but they did well selling down at a good price eh
But first offer often not the last so hang tight
Independent report probably come in at $2.75 to $3.05
And don't forget the Ecoya discount ....that knocks a bit of the price
Yes I agree, things have changed for sure.
It just feels disingenuous of board and management a little over a year ago to talk about how they can drive shareholder value without being bought out, and the capital raise at $3.70.... then selling out at $2.90.
If there's that much potential growth in China, then I feel TIL can give us far far more than $2.90.
Of course, I understand board and management are more after their own interests and this is the risk in investing... I'll take it in the butt.
While I'll be taking a bit of a loss on this, at the same time I'll be happy to get the capital back and go sniffing for other investment opportunities.