MET - Metlifecare - one for the fundies?

[King1212]

Too late now....it will another offer coming up this Monday....

[couta1]

Too late now....it will another offer coming up this Monday....

I doubt it, will be in the new year.

[Beagle]

I doubt it, will be in the new year.

I think that's more likely BUT on the other hand given the size of the deal it wouldn't surprise me if one of Jarden's top investment bankers, (to try and earn a really HUGE Christmas bonus) isn't trying to broker price agreement between the buyer and major shareholders this weekend and an improved offer could be forthcoming before Christmas. Maybe, but I am not holding my breath for that. The interested party will know they're not the only one interested and $7.25 is still a very good price for the buyer (for current strong market conditions and very good prospects for 2020 and beyond in this sector).

At $7.25 they are buying a company that has grown earnings at an average rate of 15% per annum over the last five years and for most of that time the Auckland market was flat. They'd be paying about 15 times earnings for 15% average growth, a PEG ratio of just 1.0. That is cheap no matter how you slice and dice it but with somewhat (I put this as kindly as possible, "uncharismatic") leadership in recent times major shareholders might be happy to accept $7.25. I think that's the price the deal gets done or very close to that. Its possibly worth a bit more but there has to enough meat left on the bone for the acquirer to chew on otherwise they won't bite.

[winner69]

The volume on Friday was four times higher than average for this stock and the price went up 26 cents. I think that speaks for itself.

Take out 1 million sale at a discount (to Quit?) nothing unusual about Friday’s volume

More (Underlying) volume on Thursday prior to the announcement

[Beagle]

Fact remains, it closed up 26 cents on four times the usual volume. Monday could be very interesting or very boring, one or the other lol.

[Beagle]

I think that's more likely BUT on the other hand given the size of the deal it wouldn't surprise me if one of Jarden's top investment bankers, (to try and earn a really HUGE Christmas bonus) isn't trying to broker price agreement between the buyer and major shareholders this weekend and an improved offer could be forthcoming before Christmas. Maybe, but I am not holding my breath for that. The interested party will know they're not the only one interested and $7.25 is still a very good price for the buyer (for current strong market conditions and very good prospects for 2020 and beyond in this sector).

At $7.25 they are buying a company that has grown earnings at an average rate of 15% per annum over the last five years and for most of that time the Auckland market was flat. They'd be paying about 15 times earnings for 15% average growth, a PEG ratio of just 1.0. That is cheap no matter how you slice and dice it but with somewhat (I put this as kindly as possible, "uncharismatic") leadership in recent times major shareholders might be happy to accept $7.25. I think that's the price the deal gets done or very close to that. Its possibly worth a bit more but there has to enough meat left on the bone for the acquirer to chew on otherwise they won't bite.

Spooky possums, the dog's nose for a feed seems to be still working pretty well http://nzx-prod-s7fsd7f98s.s3-websit...494/314594.pdf Hopefully the hard working investment bankers at least get Christmas day off to enjoy with their families.

Balance also predicted this correctly and said the first offer is NEVER the last offer. Hat tip to you mate.

Am I reading this right that there's now another party that has placed an indicative takeover offer, thoughts folks ? I highlight the word "and" because it would appear that not only do they have a higher offer from the first credible buyer but there appears to be another offer from a third party, apparently referring to another bidder ?

MET has received a further revised non-binding indicative proposal to acquire MET and has substantially negotiated a scheme implementation agreement (SIA) with a third party. However, the SIA has not yet been executed pending confirmatory financial due diligence.

If there's two active bidders might we get upwards of $7.50 ?

[pierre]

Fact remains, it closed up 26 cents on four times the usual volume. Monday could be very interesting or very boring, one or the other lol.

Trading Halt - round 2 about to start.

[winner69]

Trading Halt - round 2 about to start.

It’s all go this time - hope we know how much by Christmas


Following MET’s announcement on 19 December 2019, MET has received a further revised non-binding indicative proposal to acquire MET and has substantially negotiated a scheme implementation agreement (SIA) with a third party. However, the SIA has not yet been executed pending confirmatory financial due diligence.

[King1212]

Well couta....trading halt....u said u doubted about it?

[couta1]

Looks like were in the money winner, no need to back dog horses over the holiday period, Beagle has earned himself a few more free ski lessons and a trip to the bar of his choice in Queenstown.