MET - Metlifecare - one for the fundies?

[BlackPeter]

As always in life ... timing is everything ;

... and hey, there might be some cheap MET shares coming up over the next couple of weeks, particularly when the next general down leg starts to accelerate ...

[Bjauck]

https://www.afr.com/street-talk/deal...0200407-p54hq5

The takeover is officially off folks.
Metlife a bit naughty they tried to claim it 'has to go ahead' all this time.

"The MAC clause allowed EQT to walk away from the transaction without incurring any break fees."

MET should have said nothing or admitted that the pandemic introduced uncertainty. Smaller investors would have been more reliant on their public announcements than the professional institutions. Shame on MET directors. Congratulations to them on scaring away more individuals from NZ listed companies.

Perhaps NZ Mom and POPs need to stick to investor housing especially since CGT was taken off the table?

[Balance]

Was fun while it lasted ...and pretty rewarding

Hardly a surprise, is it - sp has been telling that the deal was off a while ago.

Ready for a second dip?

SP has been trending higher as the arbitrage boys’ liquidation of stock levels off.

[winner69]

As always in life ... timing is everything ;

...remember the days of getting such a great company for less than NTA was a steal

[winner69]

... and hey, there might be some cheap MET shares coming up over the next couple of weeks, particularly when the next general down leg starts to accelerate ...

I think beagle will be in boots and all for a second bite of the cherry.

[trader_jackson]

I think beagle will be in boots and all for a second bite of the cherry.

It was often mentioned how obvious it was that it would be taken over at well above where it was trading (and a takeover was to happen at at least NTA - although at the time I remember pointing out that a recent take over of a listed Australian retirement operator was done at about a 30% discount to NTA)... but no worries, MET really must be a bargain, and about to be even more of a bargain at 10am this morning... no doubt another take over offer for this obvious takeover candidate is right around the corner.

The virus has provided the EQT with an excellent excuse to walk away from MET... the fact they didn't even try or even suggest they would consider a lower offer, say $5, shows they really did not want to touch MET in the end... and that it really is a dog all along.

[Bjauck]

JP Morgan had been dumping shares recently. Maybe they were dumping them onto hapless individual investors who believed the reassurances from the MET board announcements.

[Balance]

JP Morgan had been dumping shares recently. Maybe they were dumping them onto hapless individual investors who believed the reassurances from the MET board announcements.

Game for the big boys - short coverings very evident in the last few days and probably more to come today.

[Balance]

https://www.afr.com/street-talk/deal...0200407-p54hq5

The takeover is officially off folks.
Metlife a bit naughty they tried to claim it 'has to go ahead' all this time.

"The MAC clause allowed EQT to walk away from the transaction without incurring any break fees."

https://www.nzx.com/announcements/351464

"Metlifecare is taking legal advice on the APVG correspondence, but its initial view is that the assertions are without substance and that APVG does not have a lawful basis to terminate the SIA."

What else can the directors say?

[JohnnyTheHorse]

I believe any assertion that the directors are misleading investors is incorrect. They will be working on the basis that the MAC being claimed is "resulting from changes in general economic conditions, the publicly traded securities market in general or law." If this is correct, APVG cannot terminate the offer.

This will play out in the courts.