TIL - Trilogy [formerly ECO - Ecoya]

[Balance]

And those evil Directors who apparently no longer work for shareholders will rejoice with higher offers being made and to their best to screw whoever comes along

After all don’t one or two of those Directors have much more skin in the game and will want every extra buck they can get

Best way to play the game - follow the smart money.

The boys sold $30m of shares in June 2016 at $3.70 - hindsight (and foresight too for those who are really clued up) tells us that was the signal to sell out or lighten up as the boys did.

[boysy]

BWX seems fairly tapped out re debt levels wonder if a script offer would do the trick with a PE of >40x it would be seriously earnings accredative.

$2.90 does seem a fairly lowball offer if China does take off as they have insinuated the 2H could bring.

[winner69]

BWX seems fairly tapped out re debt levels wonder if a script offer would do the trick with a PE of >40x it would be seriously earnings accredative.

$2.90 does seem a fairly lowball offer if China does take off as they have insinuated the 2H could bring.

That’s the big IF eh boysy.

Seems the confidence in delivering what has been ‘insinuated’ is waning from current developments and the comments they are making.

Hoping for a positive Grant samuel report and a better offer


’low ball’ seems a popular phrase on this thread....pretty good in my view as starters but ok even if that is the end result

[Twinklefingers]

Sure - have a look through the TTK thread for takeover which fell through, OIC would be an example for a takeover with a nice and fair offer - and AWK might be worth a look as well (first partial, than complete take over at a fair price). FPA was a charm, but this is now some years ago ... and somewhat different would be ABA (several hostile takeover attempts which fell through).

Thanks a lot BlackPeter, interesting reading. I'd be surprised to see a higher offer suddenly popup but it looks like things will happen pretty quickly so I think it's worth waiting things out instead of dumping and moving on like I'd originally thought.

[BlackPeter]

Thanks a lot BlackPeter, interesting reading. I'd be surprised to see a higher offer suddenly popup but it looks like things will happen pretty quickly so I think it's worth waiting things out instead of dumping and moving on like I'd originally thought.

You are welcome ...

Interesting to see in the papers the comment "offer they can't refuse":

https://stockhead.com.au/health/rose...bid-16pc-jump/

I am really struggling to understand why the board would voluntarily give up their credibility with signing this gagging and recommendation order for directors ... If the offer is really that good, than any prudent director would recommend it anyway without being forced to do so - and keep their credibility. Wouldn't they?

Only reason I can see for CITIC asking for this arrangement is that TIL is more worth to them than they offer - but would prefer not to pay ;

I wouldn't be surprised about a better offer but I guess we will see whether CITIC did enough to discourage any other suitors ... fair play?

[Balance]

You are welcome ...

Interesting to see in the papers the comment "offer they can't refuse":

https://stockhead.com.au/health/rose...bid-16pc-jump/

I am really struggling to understand why the board would voluntarily give up their credibility with signing this gagging and recommendation order for directors ... If the offer is really that good, than any prudent director would recommend it anyway without being forced to do so - and keep their credibility. Wouldn't they?

Only reason I can see for CITIC asking for this arrangement is that TIL is more worth to them than they offer - but would prefer not to pay ;

I wouldn't be surprised about a better offer but I guess we will see whether CITIC did enough to discourage any other suitors ... fair play?

This is the real world where real deals get done.

Says to me that TIL needs CITIC at this stage of the game more than CITIC needs TIL - so take care, everyone!

[trader_jackson]

https://www.cosmeticsdesign-asia.com...cquire-Axilone

CITIC is building up its presence in this market.

Inclined to believe that they are not only serious but also, will compete aggressively if another offer (say from BWX) is made.

Just have to look at what happened with Tower - first offer flushed out second much higher offer.

Wait, what happend with tower 'in the end'? hmm...

With a questionable outlook and consistent "growth is just around the corner" mantra, shareholders have been handed a get out of jail free card, with an offer price much higher than where TIL has been in many of the past 12 months... up to them if they accept it or not

[winner69]

Well, let's hope so (that better offers will come). Sort of feels though, I touched with you a nerve with my criticism of the directors actions. How come?

I guess - seriously - can't you imagine a better way for a director to deal with a takeover than to basically sign your soul away for the first offer?

Why do you defend them that vehemently?

I guess I still hope things will go ok-ish for shareholders (though many would lose money at $2.90), but the TIL board lost in my view all credibility with signing this gagging order.

Wouldn’t say defending them ‘vehemently’ but we need to accept that Schemes of Arrangement by their very nature are reasonably ‘friendly’ (for want of a better word) as opposed to say a hostile takeover.

That’s how real deals are done - I don’t see this deal see as that unusual in the way it’s being handled.

You obviously view it differently and that’s your perogative.

Will be interesting to see how it turns out

[Balance]

Wait, what happend with tower 'in the end'? hmm...

With a questionable outlook and consistent "growth is just around the corner" mantra, shareholders have been handed a get out of jail free card, with an offer price much higher than where TIL has been in many of the past 12 months... up to them if they accept it or not

Nothing wrong with Tower. Wish takeover happens more often like that!

Not often one gets two bites of the cherry.

[Balance]

With a questionable outlook and consistent "growth is just around the corner" mantra, shareholders have been handed a get out of jail free card, with an offer price much higher than where TIL has been in many of the past 12 months... up to them if they accept it or not

Funny but I thought you were writing about PEB!

'Profit' and 'growth' and 'tens of thousands' around the corner - been 4 years of that same story repeated over and over and over, plus numerous capital raisings!

What is sauce for the goose is not sauce for the gander?