Leaks? Really? In the NZX market? Surely not!
Jusqu'a demain
Pierre
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That's exactly what it says PT
Small commitment of $7m at this stage - piddling amount to have a bit of fun.
But lets not forget the big picture. Heartland obviously want MTF so this is just the start.
Heck what will growing the loan book by a few hundred million in an EPS accretive acquisition that also increases ROE do to the share price.
The time to be buying Heartland is now - before it all happens and the share price gets its inevitable boost. May never be $1.20 again
That is very true HS, particularly with the uncertainty of the outcome from the Sportzone case. But I think HNZ have done a good job and as much as they can for now, to decrease the risk/annoyance of Turners getting a blocking stake.
For the car dealers, I am sure HNZ is a much more exciting partner in MTF than their competitor Turners
Don't Turners potentially do quite well by throwing in the towel and selling any shares they may have acquired already to HNZ ?
Well I suppose they could by selling the small holding they had in MTF before they made the recent offer. But now with HNZ having made an alternative offer, if I understand this correctly, any SH that may have accepted Turners offer have a "cooling off period" in which they can change their mind.
Suddenly HNZ are able to value MTF notwithstanding the fact that we don't know the outcome of the supreme court decision which could fundamentally alter the value of MFT ?
How is that being prudent with shareholders money ?
The offer is conditional on DD (ie the court case) unlike Turners which is unconditional. Basically they have floated a high offer out there to stop holders taking Turners offer, knowing they can reduce the offer if the court case is unfavorable. If they didn't do this, Turners would get a blocking holding and it would be all over.