Hopefully the major shareholders will vote against it. I would rather keep what we have, unless the takeover was at least 4.20 plus dividends until deal goes through.
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Hopefully the major shareholders will vote against it. I would rather keep what we have, unless the takeover was at least 4.20 plus dividends until deal goes through.
Don’t count out a counter bid emerging - Ampol’s commentary on the takeover is compelling reading for any counter bidder as to just what a bargain Ampol is getting.
Heck, Ampol is fully debt funding the takeover!!!! That’s how much it’s bankers love the deal.
Had a really brief look at some of the 108 pages of the SIA document, here, http://nzx-prod-s7fsd7f98s.s3-websit...676/356623.pdf
(DYOR and don't rely on me to read the whole 108 pages because I can assure you that isn't going to happen), but from what I can see the extra consideration (up to 10 cents after 31/03/2022) if the scheme isn't implemented by then accrues at a daily rate that amounts to 1.65 cents per month with a maximum of 6 months. (Annual rate of 5.5% based on $3.60 invested now)
They are targeting completion in the first half of 2022. I think its likely with all the conditions we'll go well into that six month extension period and this won't settle until around July-August 2022...that's my gut feel. Very unlikely to get done by 31 March 2022. Deal is exclusive to AMPOL and in my opinion is almost certain to contain rights within it for them to match any higher offer but I couldn't be bothered reading that far though all that guff. I might give it a week or three and see if another bid is forthcoming and if not...
No big hurry, Beagle to take your gains until a better opportunity comes along.
The arb funds are already hovering up the stock, to be joined soon by the fixed interest balanced funds who will find the yield at anything up to $3.70 irresistible.
Again NZ sleeps ZZZZZZZZ. When the deals done it will be big headline news, and like the banks, boo hoo all our profits going overseas again. The news will read in a couple of years.......ZEL/Ampol doing very well converting to petrol and EV and convenience store and car grooming and cafe outlets. ZEL/Ampol sp is on $5 and are declaring a 50c div, and it will be all over the news and kiwis will say, why did we let that go:(. Come on NZ wakeup! There seems to be a lot of sellers around $3.63 to $3.65?
I could hardly get past the definitions. But there is a warranty that the board is not currently in discussions with any other party, and also will not directly or indirectly, invite solicit etc any other competing bids. The agreement does make allowances for superior proposals and other due dilligence activities, but reasonably the closer we get to the shareholder vote, the less likely any competing bids will be forthcoming. If a competing bid does surface, it would probably have to be more than marginally better as Ampol will just match it. So its like they have raised the stakes considerably. Good advice to wait a few months before selling.