how can they bid for 40% only - do they need shareholder approval for that as it's in the 20-50% "no fly" zone?
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how can they bid for 40% only - do they need shareholder approval for that as it's in the 20-50% "no fly" zone?
Bizarrely, it values AIA at less than their initial offer. This sounds like the way I buy a car:
Me: What's the asking price?
Dealer: 20 grand
Me: Hmmm, I'll give you 18-five
Dealer: Okay... we can probably do 19
Me: Sorry that was my best offer. Now I'm offering 18.
:D
They want this thing put to shareholders. Here's the question: If the last offer was a sh*t sandwich, what makes them think this reduced offer will be any more attractive to directors??
Is it 1 April?
I think the market is being overly skeptical here. 315 is a massive discount to the potential offer price. The Canadians must be laughing out loud while still hoovering up all the shares at these prices. Am I right in thinking they can just keep buying all the way up to 19.99% without having to make a formal offer ?? They obviously aren't walking away, they must love the long term prospects for AIA , can't quite understand why people are bailing on millions of shares at these prices ....
It was rather bizarre that the price fell back so much last week. Foreigners were queuing up to buy in the 3.50 plus range yet kiwi investors didnt want to pay more than 2.80. Typical of our market.
I don't think the Canadians can buy any shares on market anymore. My understanding was that because they have already done due diligence on the company they are now in possession of inside information which means they are only allowed to buy through a takeover offer.
Yes Rymndchn-They cannot buy after doing due diligence. Perhaps the current price reflects the lack of confidence punters have in the deal happening at all.I think Morrison will block it some how.
It will be interesting to see who has picked up the 21m shares traded so far today.
I heard Winnie the Pooh on the news rabbiting on about how New Zealanders should not sell.
I guess that he has put his money where his mouth is and has bought up large.
See they want a staggering 74% increase in directors fees on top of the 18% they got last year. Should be pegged to revenue growth or some other measure of how they are running the company, and I do mean "running it", not putting it up for sale.
Did he now? I remember Auntie Helen getting herself in trouble when she told people not to sell when Air NZ got itself in strife over Ansett..., but guess that was different given the govt was a major holder...
The politicians should keep their snouts out of business