MET - Metlifecare - one for the fundies?

[King1212]

It worth the risk...almost 50% off the NTA......

Oca is trading off 20% off....SUM is 15% extra....

So...the best pick at the current sector ...even my master Beagle dipped in his smooth paw!

[peat]

Thanks so much Peat - really helpful. SO is the take over officially off now? Otherwise nothing material has changed since $7 takeover bid?

The offeror is invoking the Material Adverse Change clause coz the world has changed.
Metlife haven't agreed that it is triggered, but are taking legal advice. They be well hard pressed to get the coin now.

[Balance]

The offeror is invoking the Material Adverse Change clause coz the world has changed.
Metlife haven't agreed that it is triggered, but are taking legal advice. They be well hard pressed to get the coin now.

I for one am grateful the takeover has not gone ahead - not often one gets to invest back in a quality well sought after sector stock at half price!

Reminds me of AIA - deal to takeover by the Dubai interests was blocked by Cullen and one was able to buy shares at $2.00 after the deal fell over.

More!

[Bjauck]

I for one am grateful the takeover has not gone ahead - not often one gets to invest back in a quality well sought after sector stock at half price!

Reminds me of AIA - deal to takeover by the Dubai interests was blocked by Cullen and one was able to buy shares at $2.00 after the deal fell over.

More!

At $3.78 the MET sp is back up to the price level it was at prior to the invocation of the MAC clause. At this price I think it could be a toss up as to whether MET or OCA represents better value. Over the past 12 months, OCA has seen a greater fall in SP.

[Beagle]

I for one am grateful the takeover has not gone ahead - not often one gets to invest back in a quality well sought after sector stock at half price!

Reminds me of AIA - deal to takeover by the Dubai interests was blocked by Cullen and one was able to buy shares at $2.00 after the deal fell over.

More!

I quite like the company and think there is very deep value here so am happy to hold for the long term. I think there's a huge amount of resiliency built into their operations. They could stop development entirely and still grow underlying profit nicely off the huge level's of embedded value in their existing units.

SUM by comparison is trading at a 20% premium to book and its relatively highly geared 15 year + land bank holding, (at projected revised 2020 build rate), is frankly looking quite ridiculous in the new normal we will have going forward.

MET closed at a 46% discount to NTA and OCA at a 21% discount. MET a no brainer best share price prospects of the sector at the closing price today.

[Bjauck]

I think there needs to be an investigation by the NZX as to how and on what basis the MET board communicated the progress of the takeover. How many smaller investors were "duped" into keeping their MET shares on the basis of the representations from the MET board?

[dompf]

I found Metlifecare at 320 too good to resist against the other retirement competitors given domestic income and the large discount to NTA.

I was all in the keeping as much cash as I can while we rode this turmoil out - but I went in bought a chunk of 15k & may top up next week after seeing what Easter brings.

NZ appears to have the virus under control which bodes well for retirement stock and taking into consideration the protection retirement villages are putting in place and keeping their residents informed only further leans and tells me to a long hold on this.

My preference is Met over the other retirements at the moment at least given the discount and possibility they may find another (or one of the original buyers) in the next 12ms.

[Cyclical]

Gee, everyone is pumped. Kinda funny that it was at about this price last week, but because there was uncertainty (worse case would have been what we have now, best case was the take over was going ahead), people didn't want to touch it. Funny human behavior. Well I guess added to the mix is that the market thinks it's 2019 again and there was no virus. Again, funny human behavior. I don't know what to think about the markets any more. Keep sucking from the QE titty and kicking the can down the road...

[nztx]

At $3.78 the MET sp is back up to the price level it was at prior to the invocation of the MAC clause. At this price I think it could be a toss up as to whether MET or OCA represents better value. Over the past 12 months, OCA has seen a greater fall in SP.

but OCA's build up in part may be attributed to a few brokers waving their pick lists in the air earlier - $1.25 comes to mind

[Dlownz]

Just another question out there for people's thoughts. They held off paying a dividend in March so if the sale completely falls through will they announce a dividend