MET - Metlifecare - one for the fundies?

[winner69]

Very good analysis Beagle. If you put that sort of stuff out in a regular thesis piece on the web you could charge $1,000 a year for punters to read.

No argument with any of it. But again you fail to address the question of why is it that the market per se has weighed everything up and concluded that on most metrics MET should be priced where it is relative to its peers. Not just a today thing but how it’s been for many years....and likely to remain so.

Totally agree with you with this bit ‘...I don’t think anything is currently priced into the shares for a potential positive outcome and effectively the arbitrage funds with their selldown are giving other investors a completely free option on an early more positive outcome.‘ (maybe you’re tip sheet is worth $1,500 pa after all )

Yes a free option and we’ll worth a big punt for a big payout - let’s hope it’s in the money sooner than later.

If it’s not in the money and it appears that nobody is interested in taking MET out I’ll wont be hanging around because I think I know why the market ‘weighing machine’ weighs MET as it does. (Maybe my tip sheet is worth $2,000 pa )

Yep heads you win big but tails you don’t lose (or if you’re lucky win a little bit)

[winner69]

Hope MET getting all the stuff they need for the Court hearing on the 28th completed and sent off to them.

Wonder how OIO application going?

[bull....]

seems like major shareholder wants to take scheme bidder to court in the cml scheme

CML shareholders not finished with bailed bidder ScotPac


https://www.afr.com/street-talk/cml-...0200513-p54sgn

has a caveat though at bottom of article

In formal takeover bids its hard for bidders to walk away without a breach of condition but that's not the case for scheme of arrangements.

see carlyle group on cnbc this morning being grilled about walking away from shceme due to mac clause said they dont think it hurt there reputation

[sb9]

Hope MET getting all the stuff they need for the Court hearing on the 28th completed and sent off to them.

Wonder how OIO application going?

Could be a spanner in the works??

Government introducing a national interest test for foreign investment, to stop strategically important companies being snapped up by foreign buyers at bargain basement prices

https://www.interest.co.nz/property/...-strategically

[Beagle]

I looked at that yesterday and didn't see any additional hurdle that wasn't already there under the existing approval process for this deal.

[stoploss]

Could be a spanner in the works??

Government introducing a national interest test for foreign investment, to stop strategically important companies being snapped up by foreign buyers at bargain basement prices

https://www.interest.co.nz/property/...-strategically

$ 7.00 isn’t bargain basement , $ 3.40
was ........

[winner69]

Could be a spanner in the works??

Government introducing a national interest test for foreign investment, to stop strategically important companies being snapped up by foreign buyers at bargain basement prices

https://www.interest.co.nz/property/...-strategically

I would hazard a guess existing applications play by the ‘old’ rules

[peat]

Cyclical below asked the right question (I have put it in bold).

Originally Posted by Cyclical
Righto, so let's assume nothing comes of this takeover, what would it take to turn MET around and start generating returns on capital more in line with said other player?

Now who on the believer team is prepared to answer it? Because if no-one can, that means MET is worth no more than $4.42.

SNOOPY

You should be asking the foreign takeover company.

They are the ones who have entered in a binding arrangement committing to a price of $7, and are now reneging on that. The law should see to it they pay this.
If a pandemic was to trigger the MAC it should have been explicitly stated.

[Snoopy]

Cyclical wrote:
"Righto, so let's assume nothing comes of this takeover, what would it take to turn MET around and start generating returns on capital more in line with said other player?"

You should be asking the foreign takeover company.

They are the ones who have entered in a binding arrangement committing to a price of $7, and are now reneging on that. The law should see to it they pay this.

If a pandemic was to trigger the MAC it should have been explicitly stated.

The three potential takeover suitor companies have answered in 'market speak'. Two have not submitted a bid. The third has pulled their bid at $7. I am not sure if this is for:

1/ MET asset operational reasons (e.g. once leaky building issues are fixed, the building stock will be too expensive to on sell at a profit) , or
2/ Funding reasons (based on the bidders own borrowing capacity).

Either way the bidders say the performance of MET cannot be lifted in the current business environment. However, some here on this forum must have the answer as they are happy to buy MET at $4.40 or thereabouts. Maybe if they shared their 'turnaround secrets', more of we non-holders would 'get it' , buy in , and raise the MET share price?

SNOOPY

[Balance]

The three potential takeover suitor companies have answered in 'market speak'. Two have not submitted a bid. The third has pulled their bid at $7. I am not sure if this is for:

1/ MET asset operational reasons (e.g. once leaky building issues are fixed, the building stock will be too expensive to on sell at a profit) , or
2/ Funding reasons (based on the bidders own borrowing capacity).

Either way the bidders say the performance of MET cannot be lifted in the current business environment. However, some here on this forum must have the answer as they are happy to buy MET at $4.40 or thereabouts. Maybe if they shared their 'turnaround secrets', more of we non-holders would 'get it' , buy in , and raise the MET share price?

SNOOPY

There have been plenty of discussion around that - if you choose not to read or cannot see it, then just stay clear of the stock. It’s that simple!