I for one have never begrudged Morrison for their high fees because they made money for me. I do however begrudge fees and salaries of the CEOs and directors that are absolutely useless and destroy shareholder value.
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Yep. the managers have built up some very savvy experience and would relish starting over.Fund managers and investors would throw their IFT profits to them, they sure have the mandate and track record(which seemed to accelerate after Lloyd Morrisons(RIP) departure.Maybe more offshore assets next time.
I would prefer the NZ Super Fund buy IFT. Be a better fit for NZ INC.
Last company left listed on the NZX, kindly turn off the lights when you leave!
As our esteemed leader could have said: There are many reasons why so many NZers invest in residential housing apart from its value continuously heading northward. However I won't address them because it is too difficult and the Kiwis who voted for me, because I wasn't going to rock the boat, may kick me out next time.
We could do with a true leader / patriot. Someone unafraid of doing the right things despite being potentially voted out. And a followup leader prepared to cement the changes in instead of reversing same. Bi-partisan consensus on 4-year election cycle for a start
Stronger National Interest tests on on major infrastructure asset owners, Insider trading / Disclosure laws that get enforced - eg Infratil FMA / NZSA / Anyone??
ift announced the tilt strategic review during the period they new of the takeover too , so most likely to increase the value of the company and as a defence tatic
Curious as to what they are buying... bulk of the portfolio in Sept interim report is 4 assets of about 1bn each (TLT, TPW, Voda, CDC). First 2 they could simply quietly accumulate a decent chunk on the NZX. And no shortage of listed telecoms companies. CDC is certainly interesting but more interesting is why they would pay such a mighty premium (NTA seems to be $3.27) to buy self managing assets in a bundle. Might be a tidy-ish financed bundle but its also bound up with the hefty Morrison mgmt fee that is likely to be expensive to extricate oneself from.
ACC seem to want out? and talking publicly
Hamish Rutherford: Infratil and ACC at odds, again, in $5 billion hostile takeover attempt
https://www.nzherald.co.nz/business/...ectid=12388853