Maybe we will see a "White Knight" take and bid this up slightly above $6 and build up a blocking stake ?
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Maybe we will see a "White Knight" take and bid this up slightly above $6 and build up a blocking stake ?
maybe the deal will fall through ?
plenty of time has elapsed for bidders to declare their hand but of course now we know the renegers offer is final so that may draw someone out.
I'm certainly not banking on it and have no position now.
But will not undertake to have no position in the near future - possibly short...
SUM trading at a 40% premium to NTA and I would argue have quite a big problem to solve with inability to sell their new units. ARV seem about fair value to me. RYM stupidly overpriced as always. I think relative to everything else except OCA, MET is dirt cheap. I will play possum in the headlights for a while and see what happens.
I think all the retirement companies have a degree of moisture ingress issues in some of their villages mate. All except MET seem to go about their remedial work as quietly as possible. The calibre of the directors with MET is definitely in question though as is recent level's of profitability results from their development work.
$6.50 would be fair and reasonable.
Sold out this morning.
MET was a great investment for me (more than twice ... ;)), but given the current situation do I see the future down potential being larger than the future up potential. Adding to that - dividends are clearly not on the menu, the board seems divided and if they are competent, then they are quite successful in concealing this fact.
Need to preserve my capital for the upcoming downturn ... and anyway not enough fun to stay on the share register of this company.
Yes, who would have thought this dog could be so exciting :t_up: