Comvita - CVT

[bull....]

this could get nasty

[steveb]

not a single buyer to be found at the mo!Lowest seller at $6.30,so what price would you guys buy at?

For me not at any price, Thankfully I never fancied this stock,you can never tell what mother nature has in store

[Balance]

Balance you are so right, CVT just announced : The subsequent discussions between Comvita and that third party have now concluded with no agreement on a transaction. The due diligence process and further consideration of any proposal to acquire Comvita, is now at an end.

Never trusted the Comvita board and management - far too many discrepancies to their announcements and pronouncements over the last few years to rely on their utterances on anything.

https://www.nzx.com/announcements/318243

A few observations:

1. ".... in negotiations we could not bridge the considerable distance between us on price". Looks the offer price was $3.50 and the directors (with their rose tinted glasses on)thought $7.00?

2. " ....has the effect of diversion of Executive and Board time from the day to day operation of the business". As if this has made any difference in the past when presumably they devoted 100% of their time to day to day operations and got their forecasts, 100% wrong three years in a row!

3. " .... a great deal of insight was gained during the due diligence process". Eh - what about the other party getting privy and considerate insight into all of Comvita's businesses and operations?

I get the very strong impression that the party doing due diligence was the one who uncovered the massive profit downgrade.

[Balance]

I sold out this morning for a small profit. Not because of that but because I need some money to help out a family member who's buying a house. Might pick up a NBR subscription with the loose change.

I maintain my bullish prediction that this will get taken over @ $8+ minimum.

You are lucky, very very lucky that level heads prevail on this thread and this site.

$8+ minimum?

Time to guess where the bottom will be.

I pick $3.29.

[horus1]

Buy at 5.5

[Balance]

Buy at 5.5

Short-covering buyers waiting in glee.

[steveb]

no point in having a stop loss in place with the buyers around the $5.30 mark.

If the price goes low enough ATM might be interested!

[Balance]

no point in having a stop loss in place with the buyers around the $5.30 mark.

If the price goes low enough ATM might be interested!

A few eager beavers got done at $6.50 I see when the market opened after 15 minutes post announcement.

[Ogg]

You are lucky, very very lucky that level heads prevail on this thread and this site.

$8+ minimum?

Time to guess where the bottom will be.

I pick $3.29.

lol

This is just deception and games by the Chinese. They want to buy it but they want it at the cheapest possible price. They lost the "act of surprise" when the directors said a take over was in the works so of cause they are pulling out so the price drops, then they will come back in. It's almost too predictable. Simple games really.

It won't drop below $6 IMO, like I said, the maximum downside is $1 tops. As you know I'm out with made a small profit. The skill here is to pick the bottom before negotiations start all over again. More easy money to be made.

Also, the announcement isn't showing on ASB? (edit, it is now, must have been delayed?)

[Balance]

lol

This is just deception and games by the Chinese. They want to buy it but they want it at the cheapest possible price. They lost the "act of surprise" when the directors said a take over was in the works so of cause they are pulling out so the price drops, then they will come back in. It's almost too predictable. Simple games really.

It won't drop below $6 IMO, like I said, the maximum downside is $1 tops. As you know I'm out with made a small profit. The skill here is to pick the bottom before negotiations start all over again. More easy money to be made.

Also, the announcement isn't showing on ASB? (edit, it is now, must have been delayed?)

Dreams are free of course - what happened to your $10 takeover price?