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03-10-2018, 04:49 PM
#401
With FBU the usual benefit from the lovely synergies and rationalization is a 'non-cash' write down of goodwill
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03-10-2018, 04:53 PM
#402
Member
Just need another company to pop in a takeover offer and its game on.
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03-10-2018, 05:27 PM
#403
https://i.stuff.co.nz/business/10757...uy-steel--tube
Fletchers sound fairly keen on STU some of those premium figures quoted seem a bit disingenuous re being a .... premium over the CR price - not sure that means much to most holders ....
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03-10-2018, 05:53 PM
#404
Originally Posted by Snow Leopard
With FBU the usual benefit from the lovely synergies and rationalization is a 'non-cash' write down of goodwill
So true .....always pay far too much
But this time it’s different
”When investors are euphoric, they are incapable of recognising euphoria itself “
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03-10-2018, 05:53 PM
#405
Well..if the market thinks STU is worth more than $1.70...then it should trades more than that..so time will tell....wait and see ...next couple weeks. AGM is in 4 weeks time.
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03-10-2018, 07:59 PM
#406
Originally Posted by blackcap
Thanks Timesurfer, lets get that price back to where it belongs. Already bought too many at $1.05 so cannot help but anyone else keen to jump on board will help the cause. For what its worth if they do get the guidance, $1.23 will look cheap.
Cheap as chips.
Can't say we didn't give everyone a heads up, along with Balance (thanks for the Directors dipping in notice).
Nothing like getting home from a days work to find you have made the best part of a months wages
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03-10-2018, 08:05 PM
#407
assumes you are selling, could be closer to 2 months wages if fletchers really wants in .....
Time is a great teacher, but unfortunately it kills all its pupils
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03-10-2018, 09:27 PM
#408
https://www.nzherald.co.nz/business/...ectid=12136404
Fletcher dropped 1.5 per cent to $6.48 after its initial bid for steel products maker Steel & Tube was turned down as too low. Fletcher offered $1.70 a share, or $284m, and has the support of shareholders with 20 per cent of the company's stock. CEO Ross Taylor says he will keep pursuing the company, but was coy on whether he'll raise the bid.
Lindsay said the takeover bid was a surprise with other firms seen as more likely targets.
"The market was quite surprised that they would look to spend quite a lot of their capacity in bidding for Steel & Tube," he said.
Steel & Tube, which is outside the top 50, climbed 16 per cent to $1.56, still below the non-binding offer.
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03-10-2018, 11:45 PM
#409
Originally Posted by boysy
https://www.nzherald.co.nz/business/...ectid=12136404
Fletcher dropped 1.5 per cent to $6.48 after its initial bid for steel products maker Steel & Tube was turned down as too low. Fletcher offered $1.70 a share, or $284m, and has the support of shareholders with 20 per cent of the company's stock. CEO Ross Taylor says he will keep pursuing the company, but was coy on whether he'll raise the bid.
Lindsay said the takeover bid was a surprise with other firms seen as more likely targets.
"The market was quite surprised that they would look to spend quite a lot of their capacity in bidding for Steel & Tube," he said.
Steel & Tube, which is outside the top 50, climbed 16 per cent to $1.56, still below the non-binding offer.
Yes interesting wording from the FBU announcement "Through this process shareholders, who collectively own more than 20% of all Steel & Tube shares on issue, confirmed their position that the Board of Steel & Tube should, in good faith, progress the development of the proposal with Fletcher Building, with a view to it being put to Steel & Tube shareholders"
This doesn't say they will accept at $1.70, rather that they would be receptive to a proposal to decide on (or accept if FBU ups their offer price).
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04-10-2018, 06:46 AM
#410
Originally Posted by boysy
Not disingenuous boysy, only doing what you do boysy — promote the stuff that best supports your story
Isn’t 58% premium to the weighted average capital raise price of NZ$1.07 tremendous return in such short time. Cool eh and many of us on here happy it eventuates.
What you make of the transaction multiple of 12.3x FY19 EBIT guidance when the average over the last 5 years of 9.2x. Without a takeover on the table you’d be rapt with a share price of $1.70, even with the touted improved performance that still has to be delivered in future years
Anyway we might get a bit more or we will have a chance on STU performing ...or take the money now and run
What you doing Blackpeter?
Last edited by winner69; 04-10-2018 at 08:10 AM.
”When investors are euphoric, they are incapable of recognising euphoria itself “
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