Prob had good intelligence that Turners were getting a good response ....so piss them off with a counter 'realistic offer' now.
If turners were after a bit of green washing they be disappointed
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Prob had good intelligence that Turners were getting a good response ....so piss them off with a counter 'realistic offer' now.
If turners were after a bit of green washing they be disappointed
Well rereading HNZ's announcement,I hardly think Turners offer will gain any traction.
I would think any "dealers" who have accepted Turner's offer will have no trouble "changing their minds" in the cool off period.!! It looks to me HNZ have nipped it in the bud.
So I see Turners have three options.
1] Leave their offer as is, in the hope they get some acceptances.
2] Walk away.
3] Increase their offer.This would mean they have a lot more "capital" at risk.
As I see it Turners are in no position to make a full takeover offer,and matching HNZ's $1.50 offer may be beyond their means.
Trader-Jackson
In doing your homework maybe just come up with 1) what you think MTF is worth and 2) what value HNZ sees in using the MTF network to generate new business
We'll forget about the synergistic benefits at the moment
Holders will no doubt be encouraged with the HNZ move on MTF, good on you, and against a technical breakout upwards it's nice to see some good news (and good timing by HNZ) .. if someone was still talking to someone else we'd be hearing them uttering endless "EPS accretive" suppositions, which have thus far not entered the discussion. But when will we see HNZ behaving like a bank instead of a finance company? Both banks and finance companies are vulnerable at what might be a topped out economy heading towards leaner times, but finance companies as we know, get slaughtered if the markets turn to custard.
A quick response, loaded with expensive consultancy Percy, but answer the question if you will .. the question was, "when will we see HNZ behaving like a bank instead of a finance company?" If MTF was a truly good buy for a 'bank', they would have been contested by the major banks. I think the majors might have no interest in MTF for good reasons. Let's think this through before assuming it's the best outcome for HNZ shareholders, and blowing off a comment with some consultancy report probably paid for by a bank, or banks.
Baabaa - when Heartland applied to become a BANK the well respected CFO at the time said it was 'really only a marketing ploy'
It was to give them greater degree of respectability in the eyes of depositors etc ..... and of course lower funding costs
At the end of the day they essentially remain a 'finance company' ....but as a BANK subject to a greater degree of scrutiny from the banking authorities