would nzo have to announce when / if they get approval to the market stright away ? i mean they submitted to the FIRB last monday how long would it take to get a reply ?
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would nzo have to announce when / if they get approval to the market stright away ? i mean they submitted to the FIRB last monday how long would it take to get a reply ?
I have said for years that PPP was the perfect mix for NZO. The only reason NZO had to sell down their holdings was to finance PRC. Now they are 'cash rich' they will look to an aquisition. As per their Annual Report and numerous other hints from DS. And with the market as it is I believe NZO will go all the way and try and get the lot. I mean why not. NZO know Taranaki and they know that Tui has a good chance of producing more.
TR is getting on and DS wants to enlarge NZO. It is win / win and always has been.
I am guessing that NZO will have to obtain the entire company to get hold of the cash. I am also guessing there wont be much upside from current sp of AUD30.
down to 27.5 on the asx looks as though people are real skitish once the big buyers come off the market.
I beg to differ. A 15 or 20% stake (or any stake bar a complete takeover) will be relatively useless to NZO.
To gain access to PPP's assetts, NZO needs to do a complete takeover. They did a fairly smart move in shaking out all the weak hands at sub 30c. I suggest from here on it will be uphill for NZO.
My guess is a takeover won't be successfull below 55 - 60 cents (and surely, any independent valuation will be AT LEAST that).
The fact that Tomkinson bought more shares is also reassuring.
If we're anticipating an eventual takeover of PPP by NZO it's worth bearing in mind that the highest price paid in a t/o is usually the last.
;)
Between the lines and considering the season ,it reads to me that while the christmas and new year break is mostly closing down the NZX and everyone is off to the beach that NZO has decided to not try to buy PPP shares that will not be for sale until mid january.End of story.
the best for the coming year
Digger