MET - Metlifecare - one for the fundies?

[Bjauck]

Same reason why NAB bought BNZ or Hart bought Goodman Fielder - turn a dog into a bloodhound.

Or maybe they think the pedigree is being valued as mongrel on the NZX?

[Balance]

Or maybe they think the pedigree is being valued as mongrel on the NZX?

Might be the case but I believe we should not automatically assume that an acquirer always know what it is doing.

There are disasters too out there where the acquirer paid too much.

[winner69]

Why would EQT buy it if it were such a "dog" of an investment?

‘Dog’ of an investment insofar as they are concerned. Infratil got out in 2017 when the share price was about $6 - NZ Superfund stayed in.

[couta1]

Now to decide whether to take the money and run if it trades near $7 or leave my money tied up for another 5-6 months when it could be milking it elsewhere.

[trader_jackson]

Looks like a done deal now... I thought there was gonna be a $7.50 offer, maybe $8 even (like management were touting) instead selling for virtually NTA in the end, oh well, better than below NTA.

despite the noise on this thread by sum, it really is a done deal now. Not really a mention of all the other interested parties and competitive bidding etc - they arent interested in a dog - and I suppose the board know they are lucky enough just to get to the $7 mark - despite this likely being no premium to NTA.

Ah well, a get out of jail card for holders will still be greatly appreciated (and already is with the SSH notices announced this morning)

[Beagle]

Hmmmmm...a case of lets see what happens. $7 is the absolute minimum. SSH voting agreement by the N.Z. Super fund states a minimum of $7 and leaves open the possibility for a competing offer as does the scheme information agreement. This will be interesting. Another competing offer to come out of the woodwork in the near future ? Time will tell.

Yes they need OIO approval.

[Joshuatree]

At that price, I won't be rushing to sell my long term holding.

Another NZ listed company to pass into foreign ownership? As a significant chunk of residential land would become foreign owned, would it need to meet overseas investment rules?

DYOR

Yes NZ turning into a "Claytons" you know the NZ that isn't NZ but majority owned by non NZ'rs.
OIC a bit of a wuss but be great if they "stood up" to this hollowing out.

Also this has been a swift transaction atp, why?

[Balance]

Yes NZ turning into a "Claytons" you know the NZ that isn't NZ but majority owned by non NZ'rs.
OIC a bit of a wuss but be great if they "stood up" to this hollowing out.

Also this has been a swift transaction atp, why?

Ok for NZ companies to buy overseas but not okay for overseas companies to buy into NZ?

[Beagle]

Ok for NZ companies to buy overseas but not okay for overseas companies to buy into NZ?

No issues if they pay a fair price. NTA only for a company that's had a CAGR of 15% per annum average for the last 5 years is inadequate and the NZX is in real trouble if we're going to allow companies to be taken over as cheaply as this.

I hope SUM other company comes up with a better offer.

[dobby41]

No issues if they pay a fair price. NTA only for a company that's had a CAGR of 15% per annum average for the last 5 years is inadequate and the NZX is in real trouble if we're going to allow companies to be taken over as cheaply as this.

I hope SUM other company comes up with a better offer.

It's the shareholder that allow it.
If you believe that MET is worth more than NTA then I'd expect you not to sell until forced by compulsory acquisition when they get to 90%.