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  1. #2971
    Speedy Az winner69's Avatar
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    This will make your day black peter

    http://nzx-prod-s7fsd7f98s.s3-websit...435/276119.pdf

    Business Bakery picking up the tab for a lot of the costs
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  2. #2972
    Speedy Az winner69's Avatar
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    Still subject to OIO approval

    That could be interesting
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  3. #2973
    always learning ... BlackPeter's Avatar
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    Quote Originally Posted by winner69 View Post
    This will make your day black peter

    http://nzx-prod-s7fsd7f98s.s3-websit...435/276119.pdf

    Business Bakery picking up the tab for a lot of the costs
    A bit spongy (the provided info) - but what do you recon? Are they doing this out of the goodness of their heart?
    ----
    "Prediction is very difficult, especially about the future" (Niels Bohr)

  4. #2974
    Legend Balance's Avatar
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    Quote Originally Posted by winner69 View Post
    This will make your day black peter

    http://nzx-prod-s7fsd7f98s.s3-websit...435/276119.pdf

    Business Bakery picking up the tab for a lot of the costs
    Hate to observe it as such but announcement is a bit ominous?

    If the takeover does not go through for whatever reason, the sp could really tank with the latest profit downgrade.

    Highly unlikely as CITIC is not acquiring TIL for the short term profitability but I just wonder if the Baker Boys are very keen to get this deal through so is prepared to cover some of CITIC's costs.
    Last edited by Balance; 13-03-2018 at 09:14 AM.

  5. #2975
    always learning ... BlackPeter's Avatar
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    Over and out. Too much murkiness for me. Made some money with TIL (even if I didn't manage to buy at balances $2.10 always right), but can't help - some bitter aftertaste just stays.
    ----
    "Prediction is very difficult, especially about the future" (Niels Bohr)

  6. #2976
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    Quote Originally Posted by Balance View Post
    Hate to observe it as such but announcement is a bit ominous?

    If the takeover does not go through for whatever reason, the sp could really tank with the latest profit downgrade.

    Highly unlikely as CITIC is not acquiring TIL for the short term profitability but I just wonder if the Baker Boys are very keen to get this deal through so is prepared to cover some of CITIC's costs.
    Right on the money Balance-I sold out couple of weeks to rebalance my portfolio-I just proved myself right. The "more or less" wording in the guidance is just pure desperation from BB to pressurise shareholders to accept the offer(I guess)...very wishy washy here...

  7. #2977
    Legend Balance's Avatar
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    Quote Originally Posted by BlackPeter View Post
    Over and out. Too much murkiness for me. Made some money with TIL (even if I didn't manage to buy at balances $2.10 always right), but can't help - some bitter aftertaste just stays.
    Just the way with takeovers - recall with Tower that the stock was trading at $1.25 to $1.30 before Commerce Commission rejected Vero's $1.40 takeover?

    Share price tanked to as low as 75c (40%) before the rights issue was announced.

    10c upside there vs 50c downside if deal not approved - easy decision to make.

    I think TIL's deal will go through but today's announcement is rather sketchy and smacks of desperate behind the scenes maneuvering to appease CITIC - could be good but could be bad.

    When in doubt, stay or get out!

  8. #2978
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    Quote Originally Posted by trader_jackson View Post
    Boy oh boy, wouldn't' surprise me if those guys that have proposed to pay near the top of the range of an 'independent valuation' are now trying to use the small print to get out of it...
    no wonder things have gone pretty quiet lately.

    Lets hope this get out of jail free card holders have been handed does go through because if it doesn't, $2.10 will not be an "always right to buy" level
    just a day after I posted this and already the offer has been sweetened... makes you think CITIC are having real doubts about this.

  9. #2979
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    It is pretty much a done deal, with very little room for CITIC to withdraw at this stage. The exact details of the agreement (and the conditions under which the agreement can be terminated) is publicly available, so have a read.

    I think OIO approval is the real unknown. Personally don't think the risk/reward ratio is right to warrant trying to pick up the 10 cents.

  10. #2980
    Legend Balance's Avatar
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    Quote Originally Posted by JohnnyTheHorse View Post
    It is pretty much a done deal, with very little room for CITIC to withdraw at this stage. The exact details of the agreement (and the conditions under which the agreement can be terminated) is publicly available, so have a read.

    I think OIO approval is the real unknown. Personally don't think the risk/reward ratio is right to warrant trying to pick up the 10 cents.
    Agree with you re CITIC.

    The announcement today though is rather worrying - these Baker boys are not known for their generosity!

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