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27-12-2019, 11:02 AM
#1091
Originally Posted by NOCASH
Gents - what is next? the proceeds from MET, should I put it into OCA or SUM? or is OCA and SUM overpriced?
See post #8528 in the SUM thread and remember who was the lead dog on this MET hunt.
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
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27-12-2019, 11:20 AM
#1092
Originally Posted by Scrunch
To be done at $7 the valuation appraisal report will need to have the bottom end of the valuation range below $7 so the bid falls into the assessed range. It will be interesting to see this done when all the other listed comparator in NZ are somewhat over NTA.
So three ‘interested’ parties and one was ‘credible’ and all the Board can extract is close to NAV doesn’t set a very high benchmark for the sector as a whole does it Scrunch
Top end of town with zillions of cash say 0.9 times to 1.1 times NTA is what these companies are worth.
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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27-12-2019, 11:20 AM
#1093
Member
Have I missed out something here ?
Today's announcement says that "the third party has completed due diligence". Has MET conducted its own valuation report ? Should the shareholders get to see an actual independent appraisal report first ?
Also, why are they not disclosing who these 2nd and 3rd parties are ?
Last edited by limmy; 27-12-2019 at 11:28 AM.
Reason: after thought
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27-12-2019, 11:26 AM
#1094
Originally Posted by winner69
So three ‘interested’ parties and one was ‘credible’ and all the Board can extract is close to NAV doesn’t set a very high benchmark for the sector as a whole does it Scrunch
Top end of town with zillions of cash say 0.9 times to 1.1 times NTA is what these companies are worth.
Not really, they're 'saying' that's what MET is worth, not the sector. Must be something about MET that only warrants an acceptable bid at around NTA, can't conflate that to the whole sector.
Still a get out of jail card for long suffering shareholders. I'd be doing the jig instead of quibbling about 25 cents here or there. Nice windfall for those with the nose. Well done.
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27-12-2019, 11:27 AM
#1095
Originally Posted by NOCASH
Milk? ATM, A2 milk? Synlait?
It is all fun and games on here. Everybody thinks they’re right and that’s what Makes this site so interesting. Couta1 loves his milk And beagle loves the old folks. Unfortunately no one has a crystal ball. You could do some diversification and get a bit of both or do something else completely Like SKO. Beagle does give some very good analysis, so trying to understand it and I look up what I don’t understand. It’s a bit difficult to understand what is tongue in cheek, between what is researched, I take it with a pinch of salt and do lots of lots of research Make notes, so you remember what you decided what you did, and then go for it . When the MAs are one above the other, then that might be a nice indicator.
Beagle ,Winner 69, Balance, Couta1 and all the rest of you, Thank you for another entertaining and educational year and for all your help and support and sharing your wisdom and humour, let’s hope we all have a good 2020 vision for next year
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27-12-2019, 11:30 AM
#1096
Originally Posted by limmy
Have I missed out something here ?
Today's announcement says that "the third party has completed due diligence". Has MET conducted its own valuation report ? Should the shareholders get to see an actual independent appraisal report first ?
MET would have down their own valuation
They’ll produce a Scheme of Arrangement or something similar. It’ll probably have the Directors support and recommendation to accept
There will be an ‘independent report’ which will probably say fair value between $6.50 and $7,20 so $7.00 is pretty good.
Probably a done deal. You and me don’t matter or really count and we’ll have to take what our Directors say is good.
Independent only academic and only a good read for a laugh - if you get my gist.
That’s how I see it anyway
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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27-12-2019, 11:35 AM
#1097
Member
Thanks Winner69 for the explanation.
I suppose all will be revealed on Monday by noon, including who the 2nd and 3rd parties are.
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27-12-2019, 12:21 PM
#1098
Looks like a done deal now... I thought there was gonna be a $7.50 offer, maybe $8 even (like management were touting) instead selling for virtually NTA in the end, oh well, better than below NTA.
Last edited by trader_jackson; 27-12-2019 at 12:22 PM.
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27-12-2019, 12:23 PM
#1099
Originally Posted by trader_jackson
Looks like a done deal now... I thought there was gonna be a $7.50 offer, maybe $8 even 8? instead selling for virtually NTA.
I agree, rather disappointing. Still a done deal with flow money into other shares in the sector.
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27-12-2019, 12:36 PM
#1100
Originally Posted by trader_jackson
Looks like a done deal now... I thought there was gonna be a $7.50 offer, maybe $8 even (like management were touting) instead selling for virtually NTA in the end, oh well, better than below NTA.
Listen carefully, for between the random barks of the dog is the quiet wisdom of the cat.
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