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Ildsrud

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17/06/18

17:58

Post #: 33766261
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Originally posted by ValueInvestor123 ↑

Mkr just keep it simple. Why would IHA buy 19.9% if all they wanted to do was have a blocking stake? They could have easily stopped at 12%, 13%....

Also in 2015 when the board knocked back the indicative non binding proposal the bidder did not have a stake (being the largest shareholder) of 19.9%. Because in 2015, if the bidder did have a stake of this magnitude one would suspect ISU would have gone private then.

Let's not forget that most large holders (e.g. Funds) that have lost a vast amount of money on ISU have already sold out. The new Funds that own are well in the money and would love a $1.20 + offer.

Just my opinion but ISU board's best chance is to simply get the best price out of IHA should they want it!

If IHA wants to make a proposal and the board rejects it, then they risk a hostile offer that has a very likely chance of succeeding and that means no chance of retaining a board seat and or no nice termination payments.

This is just my opinion as a holder !

*This is not financial advice

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Great post, and I agree with your logic and share similar thoughts.

One question, the recent announcement stated they had been approached by unlisted parties (IHA at least) and listed parties. Does anyone have any thoughts around who the listed party/ies could be?

ISU Price at posting: 79.0¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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