MET - Metlifecare - one for the fundies?

[nztx]

Indeed. Along for the ride on this one. This will be fascinating as we watch the stoush unfold. Who knows, it may deliver a huge return in a short timeframe. Either way below $4.00 we have bought a solid investment with a huge margin of safety.

That's the way I see it as well ..

[zacman]

I have been investing on the sharemarket for over 30 years and I still don't understand it ! Overnight I had a buy order for 10,000 MET at just over $4. This morning I saw the market release and thought here comes an expensive legal stoush and so dropped my buy price to just under $4. The price of course took off, yet again proving that it's never too late to learn a thing or two.

zacman

[Cyclical]

Not wishing to rain on the parade, but aside from having an encouraging update from the company today, how are we really in a better situation than we were for the 2 weeks leading up to the 8th of April, before APVG expressed a desire pull out? The share price hovered around $3.80 for much of that period. It looks to me like we still have much of the same uncertainty attached. Big bounce this morning before retracting half of it this afternoon...is that because later in the day people realised that we're basically in the same position we were ~2 weeks ago?

I think we've still got plenty of ups and downs to come and that the real upside won't be until the takeover issue is decided, be it on or off. I see MET are still planning to "dispatch the scheme materials in late April," but do we have any firm dates on when the deal is supposed to be set in stone, or are all dates out the window? In the meantime, hopefully the legal costs don't get out of control.

[Cyclical]

I have been investing on the sharemarket for over 30 years and I still don't understand it ! Overnight I had a buy order for 10,000 MET at just over $4. This morning I saw the market release and thought here comes an expensive legal stoush and so dropped my buy price to just under $4. The price of course took off, yet again proving that it's never too late to learn a thing or two.

zacman

If it's any consolation, I had one overnight too at $4.05 that didn't go through and then chased it to the mid 4s but both ASB and Sharesies were way too slow (maybe that's an issue with NZX itself?). Eventually landed some when things settled down and some more later in the day when it pulled back, just to average up the stash I've picked up over the last couple of weeks

[nztx]

If it's any consolation, I had one overnight too at $4.05 that didn't go through and then chased it to the mid 4s but both ASB and Sharesies were way too slow (maybe that's an issue with NZX itself?). Eventually landed some when things settled down and some more later in the day when it pulled back, just to average up the stash I've picked up over the last couple of weeks

Some of mine went through today @ around $4.40's as well at market.
probably a lot of buyers out there digesting things over the weekend, which saw buy orders today with SP rising
The closing Buy/Offer bids from the old week may have been hint of what could happen
Still happy to hold & accumulate further & not worried about a slight averaging up today

[King1212]

No issue with legal fees....the deposit that buyer paid. .. MET can use the fund

[dompf]

NTA $7 some discounting here maybe..say 10% max for real estate prices ; agreed buy out at $7 against three competing offers to look at purchasing the company. Major shareholders correct me if I’m wrong 19% superfund aprox 6% ACC now after increasing their shareholding after arbitrage are selling down.

today announcement Met fighting the Withdrawal of take over offer at $7 and reinforce guidance of profit forecast of 80-90m despite covid-19. And folks think this share will go down in current asking.

too much value here for me; also with buy offers potentially around and the current offer still could go through. Way too much value. Happy holder; I hope litigation unnecessary and they come to a mutual agreement with funds that have already done due diligence

[King1212]

Totally agreed...look at KPG...down 8.5% on valuation....that saying their portfolio exposed to retailer.

Around 15% down on NTA.

So....let say 20% shaved off MET NTA of $7....then we still got $5.60

[Scrunch]

NTA $7 some discounting here maybe..say 10% max for real estate prices ; agreed buy out at $7 against three competing offers to look at purchasing the company. Major shareholders correct me if I’m wrong 19% superfund aprox 6% ACC now after increasing their shareholding after arbitrage are selling down.

today announcement Met fighting the Withdrawal of take over offer at $7 and reinforce guidance of profit forecast of 80-90m despite covid-19. And folks think this share will go down in current asking.

too much value here for me; also with buy offers potentially around and the current offer still could go through. Way too much value. Happy holder; I hope litigation unnecessary and they come to a mutual agreement with funds that have already done due diligence

Many shareholders would probably now accept a discounted offer, but as STU showed, when management/directors become obsessed with their valuation of the company, potential takeovers fall over. If a revised lower offer emerges, it will be interesting to see if the directors swing in supporting this lower offer or dismiss it as being inadequate.

[King1212]

U are talking a separate business here