Quote Originally Posted by Beagle View Post
If you take a 3 year perspective there's a lot of disappointed people who bought a house / land in Auckland 3 years ago and I think therein lies the explanation.
The outlook is much better and also the development outlook of MET and that's probably what has stirred interest in this proposed takeover.
Every other stock in the sector is now trading on a minimum of a 25% premium to NTA so private equity are getting a great deal if this goes for $7.25 which virtually no premium to NTA at all. I think you are right, the board and Sowry could have been a lot more proactive and as mentioned recently the buy-back was too little, too late.

Easy enough to find SUM value elsewhere in the sector as a substitute for capital invested here.
So the outlook for the company is very rosy.
Someone sees value is buying it up (we know that they aren't always right, especially if it turns out to be some private equity outfit) - why don't NZ shareholders see the value?
Why do we always sell for the quick gain rather than look at the big, long picture?
Not a lot of hope, really, for the NZ sharemarket in general,