MET - Metlifecare - one for the fundies?

[Beagle]

"Retirement village operator Metlifecare is expected to update the market on Friday about a proposed takeover offer.
Private equity buyer understood to have submitted a firm offer".

NBR Facebook post posted 2 hours ago.

This is going to be interesting. They've certainly well and truly "kicked the tyres" on this company so let the games begin.

[pierre]

"Retirement village operator Metlifecare is expected to update the market on Friday about a proposed takeover offer.
Private equity buyer understood to have submitted a firm offer".

NBR Facebook post posted 2 hours ago.

This is going to be interesting. They've certainly well and truly "kicked the tyres" on this company so let the games begin.

I think the most interesting comment in today's NBR story is this:
"Ellis said the board was likely to provide a further update by Friday 'but I wouldn't hold your breath on what it's going to say.' "

Read into that what you will but it doesn't sound overly positive to me.

[King1212]

Was..... likely....now done deal. Trading halt tomorrow...

[Beagle]

I think the most interesting comment in today's NBR story is this:
"Ellis said the board was likely to provide a further update by Friday 'but I wouldn't hold your breath on what it's going to say.' "

Read into that what you will but it doesn't sound overly positive to me.

Usual gamesmanship. Board will think the company is worth considerably more than NTA because of its growth potential. Private Equity will want it as cheap as possible.
Its time for the board to front up with what's going on. They really should do that tomorrow and let shareholders decide for themselves what they want to do.

[Balance]

Usual gamesmanship. Board will think the company is worth considerably more than NTA because of its growth potential. Private Equity will want it as cheap as possible.
Its time for the board to front up with what's going on. They really should do that tomorrow and let shareholders decide for themselves what they want to do.

Yup - as long as the bidder is prepared to put in a firm offer, the board may disagree with the bid but still has to present to shareholders who can decide for themselves.

[winner69]

Mighty glad it’s not Summerset playing silly buggers ...huge sigh of relief

[kiora]

Could well be - the potential list is long. In over 50 years' investing I've lost count of the number of times I've held shares in the target. It's not unusual for these matters to take longer than expected, although Christmas does add an extra touch of urgency. Patience, holders!

Core blymy ,50 yrs MacD.I've got a few yrs to catch up.I've got 40 years under my belt.I wonder which ST has been investing the longest?

[winner69]

About 2 years ago Infratil sold their 20% share in MET - NZ Superfund retained their 20%

The share price at the time was $6.07

Been a bit dud investment for them over 2 years when the markets have been going gangbusters - lost opportunities big sum

Wonder what they thinking of doing now? Maybe even influencing in the background?

[pierre]

Core blymy ,50 yrs MacD.I've got a few yrs to catch up.I've got 40 years under my belt.I wonder which ST has been investing the longest?

I made my first investment in 1962 or 1963. 100 shares in Mt Isa Mines (fore runner to BHP). Paid 26 shillings each and 6 weeks later they were at 42 shillings. The miners were on strike when I bought and the SP shot up when they returned.
Never forgotten this - I was so elated at the time and it was a great start to my investing career that's been on and off for about 57 years.

[Balance]

About 2 years ago Infratil sold their 20% share in MET - NZ Superfund retained their 20%

The share price at the time was $6.07

Been a bit dud investment for them over 2 years when the markets have been going gangbusters - lost opportunities big sum

Wonder what they thinking of doing now? Maybe even influencing in the background?

Top 3 'active' shareholders being NZ Super, ACC and ISG Ltd own 32% so it is inconceivable that the Board & bidder do not interact with them.

Means that they are bound by confidentiality and cannot trade any shares until such time as the deal is confirmed on or off.

Add on ANZ Bank various investment funds' 11.8% and the top 4 shareholders will deliver control if they like the price offered by the bidder.