Perhaps the timing was unforseen. But it was always on the cards that a corporate within the global retail environment umbrella would end up on the WHS share register. IOW I don't count myself totally lucky.Quote:
quote:Originally posted by duncan macgregor
WARTHOG, I called SNOOPY a lucky bugger because he is. Unforseen events have a habit of saving him.
You might recycle that statement and say that it was always on the cards that some kind of heavy handed regulation fo Telecom would happen. I can't argue with that statement, except to say 'different cards' and 'different odds' (IMO).
I have sold to Foodstuffs Macdunk, taking the lower than market price ($5). But I still have the upside of the escalation clause if Foodstuffs decides to buy more shares in the next six months at a higher price. In that sense I am still 'in the play' as you put it.Quote:
quote:
I am very pleased for him, even although i think he should have held on for the next play.
macdunk
I have to add though, what 'next play' are you hinting at? This is not a full takeover offer. And with Stephen Tindall holding the controlling stake and 'not selling', it never can be a successful FULL takeover offer. That means no 'premium for control' can be built into the Foodstuffs offer price, because there is no control to be gained here.
Generally with takeovers I do not accept straight away. But in this case I had already done the numbers (see Focus Investment Group on the other channel) which basically told me:
Buy around $3, hold around $4, sell around $5
Given that this was not a full takeover, that made a quick decision on the lightning Foodstuffs raid possible.
Just to set the record straight. I still like this company. It is just that I see it as fully priced in the business sense at these levels. That means the price has got ahead of the dividend growth rate. With WHS at $5, I can reinvest my WHS capital better elsewhere.
SNOOPY
discl: former shareholder