MET - Metlifecare - one for the fundies?

[limmy]

I think we should all follow Mr. Beagle's lead and refrain from selling.

[couta1]

I think we should all follow Mr. Beagle's lead and refrain from selling.

Follow your own Gutometer is the way to go.

[winner69]

Beagle - if interested their are guidelines around appointing independent appraisals - if interested find “Guidance Note - Approval of Persons to Provide Appraisal Reports".

Probably be Grant Samuel or Grant Thornton deal of this size - both are pretty smart and come up with reasonable ranges

[Beagle]

Beagle - if interested their are guidelines around appointing independent appraisals - if interested find “Guidance Note - Approval of Persons to Provide Appraisal Reports".

Probably be Grant Samuel who are pretty smart and come up with reasonable ranges

Thanks Winner, happy to wait and see how all this pans out.

[bohemian]

Thanks for alerting us to this before the bid Beagle, it's turned out quite a windfall for me, so much appreciated. Question though, can the bidder walk away from this at any time or are they committed to buying as many shares as they can at $7.00? Just wondering if too many dig their toes in over the price how risky is that?

[winner69]

Thanks for alerting us to this before the bid Beagle, it's turned out quite a windfall for me, so much appreciated. Question though, can the bidder walk away from this at any time or are they committed to buying as many shares as they can at $7.00? Just wondering if too many dig their toes in over the price how risky is that?

There are a few things that allows the bidder to walk away but essentially only really adverse events ...so unlikely

Scheme of Arrangement - if shareholders vote to accept the offer and the court approves they get 100%....even if 24% voted against it ......so essentially all or nothing.

[Beagle]

Thanks for alerting us to this before the bid Beagle, it's turned out quite a windfall for me, so much appreciated. Question though, can the bidder walk away from this at any time or are they committed to buying as many shares as they can at $7.00? Just wondering if too many dig their toes in over the price how risky is that?

You're welcome. I am very happy that others have benefitted from this. Basically what Winner has said is on the money, they need 75% approval and overseas investment office approval too so its not a done deal yet. Possibly worth noting is that the directors recommendation to accept $7 is conditional on this being within the forthcoming experts report on valuation range and subject to no superior offer from another party.

If there's no better offer for the company and $7 is within the experts valuation range then its highly likely that this will proceed at $7 as it has the support of the directors and key stakeholders owning about 44% and others will be taking note of that and in particular the experts report.

If the experts report as a bottom figure is higher than $7 or there is an offer from one of the two other interested parties at more than $7 then we're even more well positioned than currently.

You can't buy any other listed retirement company shares at less than a 30% premium to its net tangible assets so to be quite honest I don't care if the takeover doesn't happen because they're paying less than the current net tangible assets of the company and I'd really rather own it myself at that price. I bought for the compound average annual growth of 15% per annum and am very happy to enjoy that over the years ahead. I am strongly inclined towards voting against this takeover.

I remain hopeful of a better offer for MET.

[winner69]

No new deal today by looks of it

Wonder if the shakers and movers are even back at work yet

[Beagle]

Nah, they're probably still on a 5 star cruise somewhere, staying in a suite of course and enjoying a good rest.

[winner69]

Fundies still buying for a shortish term positive return, that’s important to them.

No doubt plenty of punters lining up to sell and take the cash now instead of waiting.