I'm sitting tight. The offer is way too low.. and we lose nearly a year of revaluations. I also see no reason there is big volume at close to $7. I understand the selling side but the buy side is the interesting part of all this
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Nearly $50m of shares changed hands already today and I doubt the buyers are chasing it so hard with the prospect of making just 11 cents over 4 months :)
(Disc: Starting to wish I hadn't sold half my stake)
Cultural differences, different way of doing things and huge integration risks and a certainty that perceived synergies would never eventuate make this suggestion a dumb idea ......and other reasons
Summerset would be distracted and lose focus on their own development plans (which some would say they are currently struggling with) which would not be good.
I’m sure if SUM acquiring MET is such a good thing it would have happened by now anyway
If it was indeed such a great thing and it happened then the next logical step is Ryman acquiring the Summet outfit with 1 for 2 script offer ..now that would be fun.
For a punter in for a quick buck rather than thinking 5/10 years out SUM making a decent offer would be good news.
SUM's CFO a very bright guy. I would back him and Julian to make a bloody good go out of MET's assets...really not that hard at all to make a better go of them than Sowry and co
There will be at least $15m in fine if the deal dropped
The board are muppets taking less than current NTA. Even an interim dividend reduces the $7 scheme price so earnings for the last 11 months goes for free as well.
Large shareholders had to put pressure on them for them to see that starting a share buy-back in the low $4 range was a good idea when their NTA was about $7.
Pathetic.