MET - Metlifecare - one for the fundies?

[winner69]

Could just as easily be one of the other interested parties building a foothold before launching a higher takeover offer.

Always good to live in hope ....sometimes what you wish for does come true

[Beagle]

Always good to live in hope ....sometimes what you wish for does come true

Doctor told me a few years ago, life is more enjoyable when you look at the glass as being half full. He's right.
Very strong bidding for more than 1.1 million shares at $6.85. Hmmmmm

[King1212]

Well ..15c guaranteed.... the extra is the bonus. Other stocks no guarantee 15c..u might lose half of your investment value

[macduffy]

Well ..15c guaranteed.... the extra is the bonus. Other stocks no guarantee 15c..u might lose half of your investment value

Only "guaranteed" if shareholders don't vote against the takeover. Admittedly, not very likely!

[winner69]

Punters still buying and selling in volume

No news today...look wait for another offer I reckon, assuming one does

[Beagle]

I'm happy to bide my time as I still think there's a good chance of a better deal than the miserable $7 our extremely "astute" directors are so proud of. Might be a few Australians looking to enjoy the Metlifecare lifestyle shortly.

[winner69]

I'm happy to bide my time as I still think there's a good chance of a better deal than the miserable $7 our extremely "astute" directors are so proud of. Might be a few Australians looking to enjoy the Metlifecare lifestyle shortly.

I think you'll be voting NO

[Beagle]

I think you'll be voting NO

Giving our retirement villages away to foreign ownership for less than current net tangible asset backing makes no sense to me. Hope you are keeping a ticket to hear the barking.

The directors recommending a bid that allows for taking any interim dividend off the offer price, is an absolute disgrace.
Not only does the buyer get all the villages in May 2020 at the discounted and depressed level's that existed nearly a year ago, they get 11 months of earnings for absolutely nothing and all the intellectual property, systems and goodwill for absolutly nothing too. No wonder they're keen, they're getting RYM beating growth rates for a material discount to asset backing when RYM shareholders have to pay more than three times asset backing.

Giving our assets away for less than fair value is abhorrent.

[RTM]

Giving our retirement villages away to foreign ownership for less than current net tangible asset backing makes no sense to me. Hope you are keeping a ticket to hear the barking.

The directors recommending a bid that allows for taking any interim dividend off the offer price, is an absolute disgrace.
Not only does the buyer get all the villages in May 2020 at the discounted and depressed level's that existed nearly a year ago, they get 11 months of earnings for absolutely nothing and all the intellectual property, systems and goodwill for absolutly nothing too. No wonder they're keen, they're getting RYM beating growth rates for a material discount to asset backing when RYM shareholders have to pay more than three times asset backing.

Giving our assets away for less than fair value is abhorrent.

I've had Tilt and NZO
Tilt......Independent directors did their job. Look at the price now.
NZO.....Defeated...great....outcome will be known late this year (with luck)
Although SP already doing OK.
I guess there is no chance of this happening with MET ?
Disc: Not a holder

[Beagle]

My view is it became clear in mid spring the Auckland real estate market having been in the doldrums for a fairly lengthy period of time was emerging from its malaise.
The bid is opportunistically timed in that the full effect of a resurgent market has yet to show itself in the financial results of the company.
I'm not surprised there are two other interested parties as its clear the outlook for the sector and especially in Auckland where most of MET assets are located is considerably better going forward.

Who knows what happens from here ? We are yet to discover who the directors will appoint to make what I hope is a thorough review of the valuation of MET.
I hope they don't hurry so we get to see the improved financial performance of the company for the half year to 31 December 2019.
I hope they don't appoint Northington Partners as I have very little respect for the previous work they have done with other listed companies and they place FAR TOO MUCH reliance on simply believing whatever management tell them and of course they have the usual disclaimer in their report saying they have relied upon company representations e.t.c.e.t.c.

Blind Freddy can see that MET has grown underlying earnings at a fast rate in a normal Auckland real estate market, hopefully as much will be obvious to the "independent experts" appointed by the company to report on this.

A case of watch this space and see what happens...I can't see any reason to sell, (especially with two other potential bidders) unless one really needs the money in a hurry. Another 2% of the company shares traded today, or about 4% of the free float...might we see a substantial shareholder notice soon ?
Is someone else quietly building up a stake prior to launching a better offer ?