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  1. #1341
    ShareTrader Legend Beagle's Avatar
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    http://nzx-prod-s7fsd7f98s.s3-websit...608/314714.pdf
    Winner reckons any dividend paid comes off the $7 price which seems grossly iniquitous to me. Might be some detail in there if you're keen to have a detailed look.
    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

  2. #1342
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    Quote Originally Posted by Beagle View Post
    http://nzx-prod-s7fsd7f98s.s3-websit...608/314714.pdf
    Winner reckons any dividend paid comes off the $7 price which seems grossly iniquitous to me. Might be some detail in there if you're keen to have a detailed look.
    Considerationmeans NZ$7.00in cash in respect of each MET Share held by a Scheme Shareholder as at 5.00 pm on the Scheme Record Date,as reduced by the per MET Share value of any other dividend, the record date for which falls between the date of the Scheme Implementation Agreement and the Implementation Date;

  3. #1343
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    Quote Originally Posted by weasel View Post
    Considerationmeans NZ$7.00in cash in respect of each MET Share held by a Scheme Shareholder as at 5.00 pm on the Scheme Record Date,as reduced by the per MET Share value of any other dividend, the record date for which falls between the date of the Scheme Implementation Agreement and the Implementation Date;
    Although allowing a dividend is a common takeover sweetener used to create a slightly higher effective price.
    This is sometimes needed due to valuation reports or to get sufficient acceptance. Its possibly a bit less likely this time because there are limited/No wasted imputation credits.

  4. #1344
    ShareTrader Legend Beagle's Avatar
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    With the percentage declining significantly of institutional shareholders who have in principle agreed to $7, (in the absence of a better offer), I can see this being much more of a fight to get this over the 75% line. A fight means its more likely we'll get some kind of sweetener, either an improved offer or a special divvy.
    The half year result in February could be quite a good one given the delivery of a lot of units late in FY19 that will have been selling down in 1H FY20 and could muddy the waters further. I wouldn't rule out the possibility of one of the other interested parties bidding for this once the appraisal report is out.

    OIO approval or not is another potential twist in this potential plot.
    Last edited by Beagle; 24-01-2020 at 09:21 AM.
    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

  5. #1345
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    In short, we don't know anything more, best to await developments.


  6. #1346
    Speedy Az winner69's Avatar
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    Silverblizzard and bull almost have the world ending because of this virus ...at least mini recessions and the old dying ...etc etc

    Might be seen as an adverse event and the MET deal is off
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  7. #1347
    Speedy Az winner69's Avatar
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    UBS bought up big last week

    Increased offer on way no doubt


    http://nzx-prod-s7fsd7f98s.s3-websit...563/315753.pdf
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  8. #1348
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    Quote Originally Posted by winner69 View Post
    UBS bought up big last week

    Increased offer on way no doubt


    http://nzx-prod-s7fsd7f98s.s3-websit...563/315753.pdf
    They must have seen the value in MET, a takeover target with shares trading below their NTA.

  9. #1349
    ShareTrader Legend Beagle's Avatar
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    Quote Originally Posted by winner69 View Post
    Silverblizzard and bull almost have the world ending because of this virus ...at least mini recessions and the old dying ...etc etc

    Might be seen as an adverse event and the MET deal is off
    Could be deemed an "adverse event" if it gets really bad and I would think it may also lower the odds on a superior offer.
    The world is not going to end as some imply but unless there is truly compelling value on offer...
    Last edited by Beagle; 27-01-2020 at 11:22 AM.
    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

  10. #1350
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    Wouldn't be surprised if the selldown in MET by the two funds is directly related to the OCA placement.

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