Sold at a good time too by the looks of things, this excitement has only just pushed the SP higher than IFT sold their stake at two and a half years ago (5.61)
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I think the Queen still owns just under 20% of MET
If any deal goes through she’ll probably reinvest most back into the sector ....that would be good
Added more today. Reason is that at $5.70 that's probably still ~ $1.50 under my estimated NTA as at 31 December 2019 of $7.20.
At $5.70 I am still happy to hold long term even if this deal doesn't happen, forward PE at that price is 11.7 by my calculations, still the cheapest in the sector by a fairly wide margin. I like how they are transforming their business model to a more care centric one and I think sooner or later they will trade at or about their asset backing even if this deal doesn't happen.
Its only really jumped 50 cents from the ~ $5.20 it was last week, so there's only one quarter of the potential upside to as much as $7.20 been baked into the price so far.
I think the key word here is the buyer is "credible" and the key action here is that they are "talking" and there must be some realistic chance of this deal happening as otherwise they wouldn't have stopped the buy-back.
NBR reporting discussions are "open ended". That sounds like a "we're interested but come back with a better price" type of situation to me.
https://www.nbr.co.nz/story/metlifec...s-takeover-bid
They say ‘... the price proposed is below the board’s expectations on value’
Hope the MET Board not as delusional as the ABA and the STU Boards were.
Beagle give me a really good telling off the other day when I said the Board lacked drive and ambition (at least I didn’t say delusional)
So we’re lucky having a top notch experienced Board making sure we get a good deal.
But if it gives instos and ot
Overseas private equity being talked about https://www.goodreturns.co.nz/articl...or+20+Nov+2019
I expect these talks to go on for a week or two (as a minimum), so there is still time to take a position if you feel the undemanding metrics of this company are good value irrespective of the outcome of such discussions. I think its possibly worth noting that MET is the only stock in this sector to trade at a discount to NTA (which I have estimated at $7.20 as at 31 December 2019).
Happy to leave it to you and those others who want to to take very concentrated investment positions Couta1. I am happy with my investment methodology and very happy with the results I'm achieving.