TIL - Trilogy [formerly ECO - Ecoya]

[LAC]

Story of my life, sold out after their last announcement and today's a takeover deal

[carrom74]

Story of my life, sold out after their last announcement and today's a takeover deal

I was exactly the same.But with a different stock.Opus.

I suppose there was lot of talk about TIL being taken over for some time hence that refrained me to sell(learned a bitter lesson from Opus)

[BlackPeter]

Re-read the offer.

That means 50% of the 75% votes are required.
If Business Bakery own 31.2%, that means only 6.3% votes of the remaining shares are required.
So almost a done deal?

Not quite. They need 75% of all casted votes, but a minimum of 50% of all votes (whether casted or not).
If Business Bakery owns 31.2%, than they will need to find another 18.8% of shareholders agreeing with them.

[winner69]

Not quite. They need 75% of all casted votes, but a minimum of 50% of all votes (whether casted or not).
If Business Bakery owns 31.2%, than they will need to find another 18.8% of shareholders agreeing with them.

But if the other 50% vote against they won’t get to 75% of casted votes ...deal off

Probably hoping for the usual voter apathy

[BlackPeter]

But if the other 50% vote against they won’t get to 75% of casted votes ...deal off

Probably hoping for the usual voter apathy

correct - should have said they need at least another 18.8%; If everybody who is eligible to vote is voting, they will need 75% of all votes - i.e. Baker Boys plus another 43,8%.

In reality it will be somewhere in between the additional 18,8% and 43,8%; Not that easy.

From a personal point of view - not sure I would want to give them my shares for only $2.90; Let's wait for the report - and what the NZSA has to say, but unless they better the offer probably voting against. I think TIL is currently quite nice positioned - no need to give it away.

[co0p]

So Citic fronting up with just under $250m for about $19m ebitda

Going to take a few years for them to get a payback on that sort of investment

More like $210M for ~ $21M EBITDA (assuming guidance is met)

At first glance it seems a little opportunistic.

Looking forward to the independent advisers report.

Got in a few years ago, participated in the capital raise, and purchased more recently so ultimately this will a be very good investment for me. Just feel like $2.90 is a little low...

[co0p]

Ignore above, just realised you were using EV. Although you may want to adjust for 2H cashflow effect :-)

[Balance]

But if the other 50% vote against they won’t get to 75% of casted votes ...deal off

Probably hoping for the usual voter apathy

You and I have been around long enough, W69 to know that the 'first bid is never the last or highest bid'.

Watch out for further developments, I would say and don't count BWX out.

[Beagle]

I got to thinking this morning why the apparent free 5% lunch left on the table...Subject to Overseas Investment Office approval....I wonder how long that might take under a Labour government ?
I note Goodman Property Trust sold some buildings in Auckland and are still waiting for same nearly a year later...and that's mostly under a National Government.
I guess there's no land involved so that might help. Still what with all the time taken for the independent appraisal report and other formalities it could be many many months before one could expect a cheque. Some like you Balance are no doubt holding out for a better price.
Just putting it out there that OIO are taking a very long time to consider applications.

[steveb]

correct - should have said they need at least another 18.8%; If everybody who is eligible to vote is voting, they will need 75% of all votes - i.e. Baker Boys plus another 43,8%.

In reality it will be somewhere in between the additional 18,8% and 43,8%; Not that easy.

From a personal point of view - not sure I would want to give them my shares for only $2.90; Let's wait for the report - and what the NZSA has to say, but unless they better the offer probably voting against. I think TIL is currently quite nice positioned - no need to give it away.

Hey BP do you know if CITIC are holding any shares or have tied any up elsewhere?