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Mkr

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17/06/18

17:56

Post #: 33766249
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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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Mate just playing devils advocate here... any fair dinkum investor has to consider both possible outcomes

Regarding your point about 19.9% stake... having closely followed and being a STO shareholder, having that position in the register does NOT guarantee the desired outcome (ie. takeover)

The new funds wanting a 1.20 + offer ... how did you estimate that number? Having watched Steve Johnson’s comments re ISU on sky news I don’t think forager is in it for the short term

Maybe I am wrong - watch this and decide for yourself (12:50 onwards)

ISU Price at posting: 79.0¢ Sentiment: Hold Disclosure: Held
2 Upvote

0 Great analysis

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