MET - Metlifecare - one for the fundies?

[Balance]

No issues if they pay a fair price. NTA only for a company that's had a CAGR of 15% per annum average for the last 5 years is inadequate and the NZX is in real trouble if we're going to allow companies to be taken over as cheaply as this.

I hope SUM other company comes up with a better offer.

Willing buyer, willing seller so let's see how the vote goes.

As for the NZX, best not to consider it as other than a plucked goose with no golden eggs left to lay after Weldon and gang buggered the goose to feather their own nests!

[Beagle]

It's the shareholder that allow it.
If you believe that MET is worth more than NTA then I'd expect you not to sell until forced by compulsory acquisition when they get to 90%.

You'd be right. I am strongly inclined to hold out for a better offer.

[Beagle]

Willing buyer, willing seller so let's see how the vote goes.

As for the NZX, best not to consider it as other than a plucked goose with no golden eggs left to lay after Weldon and gang buggered the goose to feather their own nests!

SUM companies on the NZX will do very well in the future provided they're also not taken over

[peat]

that meeting is 'kin ages away.
hoping to hunt out superior offers.
6.80 not tempting for those who want 7.25
TVM though

[Beagle]

Time value of money not as important as it once was, (with interest rates where they are).

[Balance]

that meeting is 'kin ages away.
hoping to hunt out superior offers.
6.80 not tempting for those who want 7.25
TVM though

There are a few steps to go through yet:

1. Independent report (which will inevitably show a valuation range which includes $7 as almost mid-point).

2. EGM to approve the deal.

3. Regulatory approvals.

4. Possibility of another bid or 10% holding out for a higher valuation from an independent valuation.

Meanwhile, funds have plenty of $$$$ and will be happy to pick up the 20c to 25c (2.9% to 3.7%) return for holding the stock for 3 to 5 months. Better than the bank.

[couta1]

Time value of money not as important as it once was, (with interest rates where they are).

Interest rates not relevant when your buying milk, so yes important.

[Beagle]

Interest rates not relevant when your buying milk, so yes important.

You'll be out ASAP...I am almost certain of that.

[peat]

Time value of money not as important as it once was, (with interest rates where they are).

I was meaning more opportunity cost with the market so hot , but also I was thinking its an opportunity to reduce exposure to the sector - some of us must have a very large percentage tied up in retirement stocks.

There isn't much liquidity at these higher levels either so maybe the decision is more easily made

What about buying more? Turning 6.80 into 7.00 hmm not really worth it … but still a good annual return.

[macduffy]

It's the shareholder that allow it.
If you believe that MET is worth more than NTA then I'd expect you not to sell until forced by compulsory acquisition when they get to 90%.

Takeover by Scheme of Arrangement is proposed, requiring a 75% vote in favour?