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  1. #541
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    Quote Originally Posted by Balance View Post
    Fireworks are rather loud, no?

    I always thought beagles do not like loud noises?
    Congrats where they're due. This pedigree hound is too old and tired to play with mutt companies and dislikes fireworks, quite right...I simply don't need to go there these days which I suppose is vindication of the success of my own investment methodologies over the years. That said, well done mate, you correctly called this as in play and indeed it is.
    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine

  2. #542
    Legend Balance's Avatar
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    Quote Originally Posted by Balance View Post
    Will be. So who has bought off them and probably, a couple of other institutions.

    Most probably FBU but also, could be white knight?

    All will be revealed.
    https://www.nzx.com/announcements/325436

    And it's NZ Steel, white knight!

  3. #543
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    Game on .....

  4. #544
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    Quote Originally Posted by Balance View Post
    Will be. So who has bought off them and probably, a couple of other institutions.

    Most probably FBU but also, could be white knight?

    All will be revealed.
    That register is so open its not funny, after Milford the next best holder has 4.88%, Acc 2.88% and then its rats and mice.

    If it is FBU buying the AGM is going to be fireworks. Unfortunately I have another function in Wellington that day otherwise I would have booked my tickets this morning. Not to be missed for sure, especially with the Chair up for re-election.
    Last edited by blackcap; 17-10-2018 at 08:51 AM.

  5. #545
    Legend Balance's Avatar
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    Quote Originally Posted by blackcap View Post
    That register is so open its not funny, after Milford the next best holder has 4.88%, Acc 2.88% and then its rats and mice.

    If it is FBU buying the AGM is going to be fireworks. Unfortunately I have another function in Wellington that day otherwise I would have booked my tickets this morning. Not to be missed for sure, especially with the Chair up for re-election.

    NZ Steel,subsidiary of BlueScope Steel, competitor of OneSteel, is the buyer.

    Now will they go for the rest?

  6. #546
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    Quote Originally Posted by Balance View Post
    NZ Steel,subsidiary of BlueScope Steel, competitor of OneSteel, is the buyer.

    Now will they go for the rest?
    That is the million $ question. But you have to wonder if they will be happy with a 15% stake and leave it at that? Maybe they think they can exert influence at board level?
    Whatever their reasoning, if they want to take over the register, there is not much headway there at all. No blocking stakes available for the current STU board. Methinks the current board are toast whichever way the wind blows.

    Unless of course NZ Steel has bought this stake as a blocking stake in itself. (ie stop FBU taking over STU). That would not be a bad strategy in itself.
    Last edited by blackcap; 17-10-2018 at 09:00 AM.

  7. #547
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    Who owns NZ Steel? It doesn't appear to be listed.

    Edit: Thanks Balance. you have provided the answer.
    So NZ Steel is not actually a NZ company. That being the case I would view FBU as the white knight and NZ Steel as the aggressor.
    Last edited by Jantar; 17-10-2018 at 09:01 AM.

  8. #548
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    Quote Originally Posted by Jantar View Post
    Who owns NZ Steel? It doesn't appear to be listed.
    New Zealand Steel Limited is the owner of the Glenbrook Steel Mill, the steel mill located 40 kilometres south east of Auckland in Glenbrook, New Zealand. The mill was constructed in 1968 and began producing steel products in 1969. Wikipedia
    Founded: 1965
    Parent organization: BlueScope

    BlueScope Steel Limited is a flat product steel producer with operations in Australia, New Zealand, Pacific Islands, North America, and Asia. It was demerged from BHP Billiton on 22 July 2002 as BHP Steel and renamed BlueScope Steel on 17 November 2003. Wikipedia

  9. #549
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    could be problems with the com com

  10. #550
    Legend Balance's Avatar
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    Quote Originally Posted by steveb View Post
    could be problems with the com com
    OneSteel sold its 50% of STU in 2012 at $2.05.

    Now Bluescope Steel buys at $1.75.

    Starts getting confusing?

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