MET - Metlifecare - one for the fundies?

[winner69]

It's not a long term hold for me so I'll take any reasonable offer and be thankful.

Same with me

Even if sale doesn't happen MET hasn't got enough 'love' to ever make it attractive ...... even though its seducing some by its hidden beauty

[winner69]

That rumour NBR spread yesterday hasn't done much to price today

GOTTA BUY MORE MET is a better ramp

[Balance]

That rumour NBR spread yesterday hasn't done much to price today

GOTTA BUY MORE MET is a better ramp

Looks highly suspicious that it's a plant by someone trying to get out?

[Beagle]

Same with me

Even if sale doesn't happen MET hasn't got enough 'love' to ever make it attractive ...... even though its seducing some by its hidden beauty

"I can't help but refer back to my 5 year analysis which showed average growth in underlying profit across 2 stages of the property cycle of 15% per annum, better than RYM's underlying profit growth over the same period". The facts and numbers suggest their track record is actually very good. Maybe its a much overlooked diamond in the rough ? House price growth expectations looking very positive going forward. https://www.scoop.co.nz/stories/BU19...pectations.htm

[peat]

its spilled
$6.50 offer rejected

[Beagle]

https://www.nzx.com/announcements/346335
Offer could easily be revised and / or one or both of the other interested parties could table an offer.
Holding.

[peetter]

https://www.nzx.com/announcements/346335

[Joshuatree]

Update on Takeover After careful consideration, the Metlifecare Board has formed a view that the value per share of the company is above the price of the revised NBIO. The valuation of the company is particularly sensitive to house price inflation (HPI) and construction cost inflation. Depending on the assumptions adopted, the valuation ranges to in excess of $8.00 per share.Following confidential institutional soundings, a binding offer at $6.50 per share is unlikely to be supported by the requisite majority of shareholders voting. In particular, the Accident Compensation Corporation, Nikko Asset Management, and Generate have advised they would vote against such an offer.

[Joshuatree]

S/P heading up atp. $6.50 new floor?

[couta1]

Probably dead in the water, no way anyone's going to pay $8 plus for this, they are kidding themselves.

[dabsman]

I like the $8 valuation comment...

[Beagle]

Probably dead in the water, no way anyone's going to pay $8 plus for this, they are kidding themselves.

You should read it again. Up to $8 depending on house price inflation and building cost inflation assumptions. There's always a range to the value of a business depending upon valuation modelling.

I am interested that there are 2 other parties interested. JT could have a point and $6.50 could be the new floor given this company is still in play, (initial rejection of the first initial offer by one of the parties given there are three interested is by no means the end of this).

[carrom74]

MET should restart the buy back... could improve the SP!

[couta1]

You should read it again. Up to $8 depending on house price inflation and building cost inflation assumptions. There's always a range to the value of a business depending upon valuation modelling.

I am interested that there are 2 other parties interested. JT could have a point and $6.50 could be the new floor given this company is still in play, (initial rejection of the first initial offer by one of the parties given there are three interested is by no means the end of this).

Nope it says ranges to in excess of $8.

[trader_jackson]

sounds like another STU here... offer gets put in there, board comes back and trumpets how great they are and wants more based on various (lofty?) assumptions, offer goes away and share price collapses back to pre-take over notice. (as for the two other parties, they were probably only willing to offer $5, maybe $6 tops)

Will be intriguing to see how things pan out... $6.50 and $8+ is quite a large difference I would think.