Cashed in this morning. This was the gift that just kept giving...
It is a shame though that we'll be losing a company off the NZX at this price.
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Cashed in this morning. This was the gift that just kept giving...
It is a shame though that we'll be losing a company off the NZX at this price.
$35m of stock already changed hands today...after nearly $50m changed hands yesterday. Fair to say the dissenters are jumping ship and unless there's other interest in taking this over at a higher price the Swedes have got themselves a genuine bargain. Clean the incompetent board and management out, instill disciplines in their development model and they'll reap very strong gains in the years to come.
A sad end appears to be coming to what could have been a very good company with better management and governance. I have some faint hope that some local institution is building up a blocking stake and this will stay Kiwi owned but if the super fund and the directors are so keen to sell shareholders down the river...you've got to wonder why they'd bother.
If cash going back into the sector RYM and SUM seem to be popular as an investment with a few tempted to have a punt on OCA
Some bright spark on here should start tracking the value of trades for each to see if the met cash is actually staying in the sector ...could be interesting
Suppose Kord Mentha working hard to finish their independent report
Probably need to tighten up the valuation. The $6.90 was outrageously high which only resulted in a very wide range ($5.80 to $6.90 far too wide but probably politically acceptable).
So KM will say $5.70 to $6.30 eh. ...and $6.00 the mid-point to keep everybody happy. ....afte all $6.00 is a 15% premium to price before announcement if new deal.