Someone knows something !! that is the only logical reason so close to the hoped for good result
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Probably offshore based selling at the close. RYM got really thumped at the close, even worse than OCA and also report on Friday.
Those who’ve sold recently will be really peeved when the takeover offer at $1.40 comes through …possibly private equity
It’ll probably be one of those dastardly Scheme of Arrangements so won’t be stopped
Ex Jarden whizz lids just can’t resist doing deals
Just speculating but I reckon quite likely ….and hoping it all happens soon
Yes W69.. potential takeover floor got to be 90 cents. Why sell... all the upside and the takeover potential limits the downside
Its a buy!
Funny you say that Winner, I've been thinking the same thing a lot lately that a takeover almost likely. I'm not corporate savvy at all but when YOU say it , it counts.
Why wouldn't some hedge or pension fund stump up with $1.40-$1.45 and just steel it for the cost price of the buildings........all the operational and corporate systems, reputation, and imminent growth all chucked in for free. After three years of share price pain , covid fear and now house price worries, it has been relentless so surely they'd find plenty of willing sellers out there.
Quite frankly, with the first collapse of the SP 2020 and now these 9 months of death from a thousand cuts Id actually entertain capitulating myself. That might sound shocking coming from me as I still 100% believe in the company's progress, values, focus on quality and nothing about its growth prospects in my spreedsheets has changed. In fact its even increased meaningfully with their acquisitions and new increased build rate. I still calculate the SP to be north of $2 in FY2024 (PE of 18)when Waimarie starts selling and with the other income streams also snow balling.
Even despite my enormous work Ive put in to really understanding this company Id still be tempted by the idea of walking away with $1.40-$1.45 cash. Buts that's ONLY because that large tax free windfall which would allow to scoop up so many other companies out there now also going for very good entry prices.
Don't get me wrong I have not lost confidence in any way with the company. Im saying what would be a substantial windfall like that ( at this moment in time) , this fresh capital could be put straight to work in this bargain environment (other cheap quality companies RYM and FPH for starters). So come on Global Pensions R US , make an offer and well think about it.
I wonder if hoping for takeover should be added to Phaedrus' lists:
https://www.sharetrader.co.nz/showth...in-a-Downtrend
Infratil and Super Fund hocking off RetireAustralia has probably got a few outfits looking not just at them but other opportunities in this part of the world
Billion or so to spend....RetireAustralia or Oceania ...no question which would be the better buy