PGW - PGG Wrightson

[tim23]

Will this deal flush out Elders or another suitor?

[Marilyn Munroe]

Will this deal flush out Elders or another suitor?

Whats left? Wool livestock merchandise and real estate.

None of these are services which compel farmers to deal with the merged Please Give Generously/Wriggle and Snatch entity over alternative suppliers.

Boop boop de do
Marilyn

PS I forgot irrigation but it doesn't change my argument.

[tim23]

[QUOTE=Marilyn Munroe;723688]Whats left? Wool livestock merchandise and real estate.

None of these are services which compel farmers to deal with the merged Please Give Generously/Wriggle and Snatch entity over alternative suppliers.

Boop boop de do
Marilyn
At 68c implies market cap only about $93 million ex payout, seems a bit light to me. I meant maybe another bidder may enter the fray yet given announcement yesterday, it will mean they have to move quicker than they thought they might of have last week.

[percy]

[QUOTE=tim23;723801]

Whats left? Wool livestock merchandise and real estate.

None of these are services which compel farmers to deal with the merged Please Give Generously/Wriggle and Snatch entity over alternative suppliers.

Boop boop de do
Marilyn
At 68c implies market cap only about $93 million ex payout, seems a bit light to me. I meant maybe another bidder may enter the fray yet given announcement yesterday, it will mean they have to move quicker than they thought they might of have last week.

Maybe? and then again considering what is left it may be a bit rich.?
Not a lot to like about what is left,as Marilyn Munroe pointed out.

[Onion]

Rob Oram unimpressed yesterday:

https://www.radionz.co.nz/national/p...-business-sale

[RTM]

Rob Oram unimpressed yesterday:

https://www.radionz.co.nz/national/p...-business-sale

Thanks for posting this. Appreciated. No longer a holder, sold out end of last year. Was not aware of the value of the seed business.

[percy]

I have had a big change of mind.
From what I can gather the business of PGW, without the seeds, is a lot stronger and in better shape than I thought.
It is being driven by PGW being focussed on their customers.Staying close to their customers, and giving them excellent service/advice.PGW will remain a distributor of seeds.PGW's balance sheet will be very strong,enabling them to take advantage of opportunities that should present themselves.
I brought a small parcel today at .6893 cps,and depending on next week's result, may buy more.

[Pmdv77]

Rod Oram lost all credibility when commenting on rural affairs after his crusade against Fonterra in 2014 saying, and I quote, “they should follow the example of Murray Goldburn and invest more in value add”

[Snow Leopard]

I have had a big change of mind.
From what I can gather the business of PGW, without the seeds, is a lot stronger and in better shape than I thought.
It is being driven by PGW being focussed on their customers.Staying close to their customers, and giving them excellent service/advice.PGW will remain a distributor of seeds.PGW's balance sheet will be very strong,enabling them to take advantage of opportunities that should present themselves.
I brought a small parcel today at .6893 cps,and depending on next week's result, may buy more.

As a holder of a few PGW shares, and sitting on a considerable unrealised profit therefrom, a hope that you see a good return on this investment, and I get to unrealise even more.

I am waiting for the results announcement next week for more current accounts but on the assumption that the deal goes through (I will not be voting in favour) and things are not much different, then the company would have an approximate NTA of $0.58 of which $0.36 would be cash.

Returning the cash and cancelling say 60% of the companies shares does still leave a company that from a customer perspective is essentially un-changed.

But from a shareholder view the remains on what will definitely be a high turnover, low margin business. can hopefully provide at least half the existing profit, which would more than maintain the P/E ratio.

Of course they will have good and bad years and maybe somebody will be interested in buying what is left.

[winner69]

You have to like record beating results ...and ahead of guidance

PGG Wrightson repeats record operating performance

https://www.nzx.com/announcements/322139