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25-03-2008, 02:37 PM
#461
Steve, arguably yes. However, there is a bit of uncertainty about what will happen once the Canadians get onboard since their preferred option was hit by Cullens first barrage of shots. Will they increase debt or prompt a restructure - or will they have no power as they only have a 24.9% voting right?
Further to that, I would have expected the price to go down today (more than it has) as those who bought just to sell into the offer, sell the excess shares which have just been freed up. The uncertainty might have scarred off a few hedge type funds though.
There is very little depth at the moment so I think there will be a balancing act between the two.
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25-03-2008, 05:37 PM
#462
FWIW, I have been a shareholder since the IPO and didn't sell into the offer...
Death will be reality, Life is just an illusion.
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25-03-2008, 06:00 PM
#463
If this is confession time, I also have been a shareholder since the IPO, sold into the offer but will be buying more if the price goes much lower, whether or not the 2 wise ministers approve the sale.
Still the best stock on the NZX, imo.
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26-03-2008, 08:21 AM
#464
Originally Posted by Steve
FWIW, I have been a shareholder since the IPO and didn't sell into the offer...
Why didn't you sell in and then top up again. the price the Canadians are paying was always gong to be above what you could top at?
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26-03-2008, 09:08 AM
#465
Originally Posted by CJ
Why didn't you sell in and then top up again. the price the Canadians are paying was always gong to be above what you could top at?
If it went through. Still may not.
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26-03-2008, 09:33 AM
#466
Originally Posted by 777
If it went through. Still may not.
If it doesn't go though, nothing gained, nothing lost - if it does go though, no gain but a loss.
Interesting article in the Independant today. Suggests that if they get turned down, they wont ask for judiical review, instead will just do a stand in the market for 20% (at less than the price of the initial offer) and hope for a national government which may allow them to increase there holding.
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26-03-2008, 01:41 PM
#467
so are we settling back to 'reasonable' PE or is it now a bit oversold for the quality?
2007 report EPS 7.5c into $2.20 = PE 29
2007 report "outlook" EBITDA growth of 7% = 8.0c into $2.20 = PE 28
Will sp go to lower PE?
Hold (didn't sell because only just bought bargain basement last week)
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28-03-2008, 08:20 AM
#468
AIA is starting to head down as I expected but I would have thought there would be more volume (from hedge funds etc).
Tobo - agree that it must start to look like a good buy. Value must be above $2.50 with or without the Canadians.
Re news of CC investigation on moving to a single duty free shop, why has this come at such a late stage. Regency got the boot ages ago and are in the process of winding down. Is it illegal to create a monopoly situation for another company (i realise they have a vested interest as they get a % of turnover).
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28-03-2008, 06:10 PM
#469
Originally Posted by CJ
Re news of CC investigation on moving to a single duty free shop, why has this come at such a late stage. Regency got the boot ages ago and are in the process of winding down. Is it illegal to create a monopoly situation for another company (i realise they have a vested interest as they get a % of turnover).
As AIA get a % of turnover, it shouldn't matter to them whether there is one or even five duty free shops as they will take their cut from each.
I think the key for the CC is that they are effectively creating a monopoly by reducing down to only the one shop, although I can't see how AIA will generate extra profits from the move as their cut is still going to be based on turnover which shouldn't change significantly...
Death will be reality, Life is just an illusion.
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28-03-2008, 07:15 PM
#470
It was always interesting to compare prices on returning to NZ. Although a "basket" of purchases would have probably worked out very similar between the two outlets, if you were only after two or three alcohol purchases (as I usually am-on orders from the wife), it could be a reasonable amount cheaper shopping with one compared to the other.
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