No surprise to me Metlifecare have endorsed $6.00 late Friday, I thought EQT would come to the party somewhere in the 5's... only thing surprising is how people thought that there would somehow be a higher offer to the point it took it back near EQT's original offer (given during a very, very different time to what we are now in).
Would be like me having a buyer for my car, smashing it massively before the deal is complete, then expecting to get nearly the same offer as before (and being insulted at any other offer)... it just isn't going to happen.
Still sad to see another company head off from the NZX, but MET has been a dog for a while now.
Real estate buoyancy seems to have confounded the "experts". One would assume that would include Korda Mentha's "expert" opinion of 5 June, not that to the best of my knowledge they've ever really been recognised at experts in real estate.
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
Bored today ...quick read through that KM Report ...quite good
Best chart was this one
Jeez 6 bucks looks a great price for shareholders
AVG must have had a moment of madness raising their offer to 7 bucks ...but they often say there’s always some greater fools to buy dog stocks at irrationally high prices
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
Those canny investors who bought in the low $4's in late 2019, then sold @ ~ $6.90 to the arbitrage boys and then bought them back in the $3's did pretty well eh Winner
Gunna be a hard act to follow finding another rollercoaster that's this much fun to ride.
Last edited by Beagle; 11-07-2020 at 07:37 PM.
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
Those canny investors who bought in the low $4's in late 2019, then sold @ ~ $6.90 to the arbitrage boys and then bought them back in the $3's did pretty well eh Winner
Gunna be a hard act to follow finding another rollercoaster that's this much fun to ride.
Maybe OCA the next roller coaster
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
Hopefully not a roller coaster but more a recipient of mega bucks released from MET finding a new home in the retirement sector. All remaining boats on the rising tide.
Might be pretty exciting if MAV gets his $54m on 23 July and punters start thinking $65-70m underlying for FY21, say $67.5m, that's 11 cps.
Experts at Korda Mentha in their valuation of MET reckon a PE of 17 for MET's underlying earnings.
17 x 11 cps = $1.87. Hmmm
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
Might be pretty exciting if MAV gets his $54m on 23 July and punters start thinking $65-70m underlying for FY21, say $67.5m, that's 11 cps.
Experts at Korda Mentha in their valuation of MET reckon a PE of 17 for MET's underlying earnings.
17 x 11 cps = $1.87. Hmmm
That’d be good, let’s say 1 for 10 in the DRP. Nice. Very happy with that.
Korda not experts, just a bigger punter talking their books.
Real estate buoyancy seems to have confounded the "experts". One would assume that would include Korda Mentha's "expert" opinion of 5 June, not that to the best of my knowledge they've ever really been recognised at experts in real estate.
vote against and go for minority buy out rights-then arbitration-then a fair and reasonable price-which would be the recent valuation median and dividend/imp credits
Do not know if its possible-we did well with SEA/ttp
vote against and go for minority buy out rights-then arbitration-then a fair and reasonable price-which would be the recent valuation median and dividend/imp credits
Do not know if its possible-we did well with SEA/ttp
Reading about schemes arrangement it does not look like minority rights are adequately protected.
However can give evidence in court that the scheme is not fair at $6 and try and prevent the scheme being implemented.
Clearly its not fair to reduce the offer to $6 because of Covid which has not reduced valuations or future profits and additionally delay paying and retaining profits in the delay.
Reading about schemes arrangement it does not look like minority rights are adequately protected.
However can give evidence in court that the scheme is not fair at $6 and try and prevent the scheme being implemented.
Clearly its not fair to reduce the offer to $6 because of Covid which has not reduced valuations or future profits and additionally delay paying and retaining profits in the delay.
That’s it fish ....either YES (and AVG get 100%) or NO and (AVG get zilch). The YES if 75% shares vote yes.
If shareholders don’t vote YES is it all off? Maybe AVG want it to go that way ....their get of jail card maybe?
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
Originally Posted by trader_jackson
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