Originally Posted by
Beagle
I think we are in for an interesting time ahead with this one. Looking at where the rest of the sector was priced, (even before the first noises of a takeover of MET), nobody can make the case that $7 is a compelling price given the better prospects for Auckland real estate and the companies own enhanced development pipeline. Really, it is the absolute minimum possible price anyone could recommend, with a straight face.
Lets not forget that there are three interested parties and there could well be a competitive bidding situation.
I think Glen Sowry could have done a lot better to appraise the market of the prospects for 2020 to keep the market better informed and I for one will be looking for a very clear report on the current state of the business before making any decision to sell my shares.