Picked a few more today.
Let the games unfold!
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Well that was an expensive fishing trip i went on this morning! Set out after reading the news of a higher offer for my 15k shares I bought last week. Came home (with no fish) this afo to find my $3k paper profit has disappeared......BUGGER! shudve sold THEN gone fishing. So all in all a rather crap day. Having said that tho I still believe there's 50c a share profit sitting there.......FBU have done the ground work for a slightly higher offer now ($2.10?) which Im sure the board will recommend and be seen to be playing hard ball. Clever play FBU.
Yes let's. Someone in Fletcher must have written a damn fine board paper to get the Fletcher board looking at acquisitions when they are also trying to divest assets and reduce borrowing. Are Fletcher going to abandon now? The shear speed with which a lumbering corporate moved indicates their cancellation of the offer was preplanned and delegated to a single person.
You've got to be an optimist to be a fisherman. There's an old saying, "a bad day's fishing is better than a good day at work"...although that's doesn't always hold true as I witnessed a boat not being secured properly while being towed away from the boat ramp the other day and it fell off the trailer and smashed up the engine and hull. Probably cost him more than $3,000, feel better now :)
STU directors are dreamers and they and senior management simply want to keep their snouts in the trough for as long as possible..its really that simple. What shareholders want is something that I doubt even figures in their thinking.
STU really left FBU with no choice if you read FBU's increased/revised offer to STU - which is that the proposal is to be treated as confidential and as a basis for negotiations. STU promptly released the offer on the basis that FBU has had discussions with some institutional shareholders and so the rest of the market should be fully informed.
What STU has done is to ratchet up the sp with the release making FBU's offer (again) look not as attractive - as if the sp has stayed at $1.50.
So FBU has pulled the offer which means that sp falls back to the $1.50 type level.
A hostile bid by FBU (nothing to stop them making such a bid) at $1.95 will look most attractive with sp at say, $1.45.
More twists and turns ahead.
Maybe possible Balance but don't overlook the political environment and Cindy's Kindy having their influence on Com Com.
Perhaps they'll suggest Com Com appoint a working group and report back in 2020 like all their other ones :D
I hear that. I was watching to see where it went after the initial flurry. I decided to drop mine on the market at 1cent above trading and not be greedy - then it all went south and I was left wishing I just hit the sell button!
Not that I am too worried about still holding them, but I see some of the shares I was looking at switching to rocket away today just to rub salt in the wound!
For sure but ask the guys who bough this morning at $1.70 + how they're feeling and they'll probably tell you that there's better odds and far more transparency at one of Sky City's roulette wheel's. At least you know what the rules and odds are, these companies seem to make them up as they go !