Yes ; it sure feels good to be in a share hitting a new high amidst the gloom. Synergies better than expected; confident of positive com com decision by early Dec.
The company expected 03/2017 underlying eps post-merger of 46c.
To this add an extra $10m synergies, and $24m of 'better Z performance' as announced today.
Take off tax and divide by post-takeover shares on issue of approx 430m.
Add also unaccounted-for NZR dividends of $20m.
Gives 56 cps - workings below.
PE ratio of, say, 12-16 for an established well run non-cyclical business.
I remember Rod Oram saying ZEL will be worth re half as much again if this goes thru or something like that. Thanks banter; holding tight atp. Management extremely confident of a yes from comcom.JT
Superfund still keeping 10% i heard. How much are they ,re $6?. Int they sold before the deal was done on Caltex.The s/p will rise higher .Creates a little doubt about comcoms decision.
Last edited by Joshuatree; 30-09-2015 at 08:12 AM.
Not the best of timing to buy into a float with Mr Market threatening to morph into a Bear with claws.......but its a good time to exit at a top price..eh?.. $6.00 - $6.20 will be the market price floor (support) during the process...It would be interesting to see what would happen if NZSE suffered another down wave during the process ..could we see the ZEL drop below is book build price??....Whatever the outcome the market will see this as "Smart Money" exiting.
It would be interesting to see what would happen if NZSE suffered another down wave during the process ..could we see the ZEL drop below is book build price??....Whatever the outcome the market will see this as "Smart Money" exiting.
During the process - wont the process be done and dusted by COB today?
The question must be asked why IFT are selling. They have held onto 20% of Metlife so they cant say it is standard operating procedure. Likewise they cant say they need the cash as I though they were swimming in it at the moment, unless they have a big purchased lined up.
ift say at a presentation I attended a couple mths ago they would sell z as it was a mature investment for them and they are looking to invest funds in growth assets
ift say at a presentation I attended a couple mths ago they would sell z as it was a mature investment for them and they are looking to invest funds in growth assets
True - I think they did say at the time it was an opportunistic purchase that they got at a good discount to fair value.
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. Synergies better than expected; confident of positive com com decision by early Dec.
Originally Posted by Hoop
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