MET - Metlifecare - one for the fundies?

[Baa_Baa]

for branding purposes "Summit" which has quite a nice feel to it
I wouldn't be surprised to see a trading halt at some stage this week.

"Welcome to Summit, where it's all downhill from here" ... maybe better we stick to the numbers and the charts? Would be pretty exciting to have a dual TH disclosing the potential bidder.

[flyer]

so if todays price of MET is too low, what price do you see as possible takeover? $6.50 ,$7??, maybe need to buy in the morning in case there is trading halt called.

[NOCASH]

so if todays price of MET is too low, what price do you see as possible takeover? $6.50 ,$7??, maybe need to buy in the morning in case there is trading halt called.

Exactly in the same position! I hold off buying This afternoon, after selling ALL my OCA’s shares..

I might jump in tomorrow morning just in-case offer comes in! Hope it will be $6.50+

Thanks.

[Scrunch]

so if todays price of MET is too low, what price do you see as possible takeover? $6.50 ,$7??, maybe need to buy in the morning in case there is trading halt called.

The market has been trading for a couple of days knowing there a low-ball takeover has been indicated. The current $5.80 price represents what is known. Everyone on here is simply speculating on possibilities - myself included. The premium on takeovers is highly variable so that doesn't give sufficient clarity to know a possible takeover price - should a bid materialise. I think it would need to be pretty close to, if not above NTA to go through.

If SUM is the bidder, my guess is the offer would be a mixture of cash and script. Its unlikely SUM could, or would want to borrow enough for a full cash offer and probably wouldn't want to do a large rights issue to gain the cash to make that sort of offer.

Lets just hope the "low" offer isn't like the "low" offer STU got and stuffed up.

[winner69]

Still got a few weeks to ‘gotta buy more’

Jardens involved ...don’t expect to have much more to say for two weeks

[Beagle]

A few observations.
1. FCNZ, (now Jarden) were the original house that floated the idea of a SUM - MET merger.
2. Jarden without question have the best analysts and investment bankers in N.Z.
3. This is obviously being taken very seriously and I would expect the various working groups comprise, (among other things) experts looking at the value of the synergies.
4. Complex deals at fair value take quite a lot of time and application of expert talent and I for one am pleased they are taking their time to look at this in a diligent and thorough manner.
5. I would think its now more likely than not that something will come out of this as if the indicative non binding terms were woefully inadequate the proposal would have been kicked to the curb already.
6. Forward underlying PE by my estimate for MET is just 11.7 @ $5.80, the cheapest in the sector. Considering the stock is obviously in play I am a little surprised we're not a bit over $6 already.
If you haven't already got SUM-MET I don't think its too late.

[winner69]

A few observations.
1. FCNZ, (now Jarden) were the original house that floated the idea of a SUM - MET merger.
2. Jarden without question have the best analysts and investment bankers in N.Z.
3. This is obviously being taken very seriously and I would expect the various working groups comprise, (among other things) experts looking at the value of the synergies.
4. Complex deals at fair value take quite a lot of time and application of expert talent and I for one am pleased they are taking their time to look at this in a diligent and thorough manner.
5. I would think its now more likely than not that something will come out of this as if the indicative non binding terms were woefully inadequate the proposal would have been kicked to the curb already.
6. Forward underlying PE by my estimate for MET is just 11.7 @ $5.80, the cheapest in the sector. Considering the stock is obviously in play I am a little surprised we're not a bit over $6 already.
If you haven't already got SUM-MET I don't think its too late.

Seems likes it’s all go eh

I’d rather be a MET shareholder today than a SUM one.

[Beagle]

Yes, I agree and I would think a deal is now quite likely so I bought more MET this morning and now have more invested in MET than SUM.

[NOCASH]

Umm.... what happened to MET? I bought in at $5.80 this morning and it closed at $6.09? is there some type of error for the rush buy before closing?

[winner69]

Umm.... what happened to MET? I bought in at $5.80 this morning and it closed at $6.09? is there some type of error for the rush buy before closing?

No errors - just Beagle and afew others getting in before it goes to $6.25 and then $6.50 and then $7.00 before it becomes all official