ZEL - Z Energy.

[bottomfeeder]

Those Aussies, I think the underhand offer is a low ball. The BOD are saying, yes come in and do your due diligence but we are looking for more. There is no way they will settle or recommend anything under $4.00 to perhaps $4.50. Z is not under too much pressure, its not desperate. Covid is affecting AMPOL in Australia just the same as z in NZ. Also they know there are more competing offers out there. The BOD have had the nod not shareholders. I see this settling at $4.50, so hold on to your shares. If its not AMPOL, it will be someone else. These chances do not come around every day. Its worth more.

[Beagle]

I put my hand up for a few more at $3.48 today.

[X-men]

During the four-week exclusivity period, Z Energy cannot solicit offers from other parties but Bennetts said the announcement of the talks may flush out other interest. "If somebody else thinks they can make a better offer than Ampol, they can come along and knock on our door at any time."

[uravgtrader]

Guess Z will soon not be for new Zealand!

[jg8512]

some good quotes in the SMH (not sure if these have been posted elsewhere):
"However, Z Energy chief executive Mike Bennetts said he expected Ampol’s offer to be a catalyst for other bidders that had previously signalled interest in the company to come forward with higher offers. ... “There have been others that have shown interest in Z from time to time, and they may see this as the catalyst to put a bit more oomph behind that interest,” Mr Bennetts told The Age and the Herald.“Someone else may not have the issues around the divestment that Ampol may have, and they might be able to offer a better price as a result.”


MST Marquee analyst Mark Samter said he believed Z Energy had been “horribly underpriced” by the equity market and there could be a long list of potential bidders including Chevron, Vitol, Glencore, Trafigura and Japanese refiners.
“I don’t think we can rule out interlopers,” he said. “Time will tell.”

https://www.smh.com.au/business/comp...23-p58l14.html

[bottomfeeder]

Share price not behaving like another bid is likely…doesn’t mean it won’t but decent discount to a relatively low ball offer suggests Z not that attractive.

A week ago, even after the takeover rumours came out, it was under $3. You cant account for what the market is thinking. Or is the price being manipulated.

[bottomfeeder]

Someone else can still raise their hand: it’s very typical in situations like this for a company to advance into an exclusive due diligence period while still being open to the approach of others,” Mr Bennetts told The Australian Financial Review.

I think they are expecting competing offers. They have others in the wings.

[sb9]

Someone else can still raise their hand: it’s very typical in situations like this for a company to advance into an exclusive due diligence period while still being open to the approach of others,” Mr Bennetts told The Australian Financial Review.

I think they are expecting competing offers. They have others in the wings.

Its like being at an auction, everyone looking over each other shoulder to see who the first bidder is and once someone shows their hand it gets intensified from there. Next few weeks will be interesting as other keen bidders won't want it go too cheaply.

[dreamcatcher]

A week ago, even after the takeover rumours came out, it was under $3. You cant account for what the market is thinking. Or is the price being manipulated.

Price been manipulated for quite some time imo. Before Covid SP was racing towards $7. NZ's vaccination rollout with borders reopening once population vaccinated. Covid for us could be a thing of the past. Tourism returning be a huge boost for ZEL sales.



Disc hold

[mikelee]

everyone agree that it's not too late to jump in and that the take over offer will not just disappear?