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MXG, MULTIPLEX GROUP
janz
post Posted: Aug 25 2007, 12:46 PM
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In reply to: toilet on Friday 24/08/07 11:34pm

Yes I did notice that ! very well done indeed! I must get some tips from you Toilet! Problem is the offer is conditional on a range of things - including approval from the NZ ASIC - wish i got out at $5 too!

For any other MXG holders - I am surprised Brookfield have only just managed to secure just over the 51% required - I wonder why the other 49% have not accepted considering all the media commentary advice has been to accept.

cheers
janz

 
toilet
post Posted: Aug 24 2007, 11:34 PM
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Wow , looking back at message before did show i was spot on $5.05
how crazy is that ?

wish i was that easy all the time.

But anyways sold out already at $5.

anyhows money should be heading to all those who have accepted now
since the acquired interest is over 50%.

 
janz
post Posted: Aug 24 2007, 01:06 PM
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In reply to: crudeoil on Tuesday 12/06/07 11:08pm

The ann today informs the market that the offer has been extended by a month as most of the conditions have not been achieved to date. Does anyone know if this is a matter for concern or just process/formality issues? I accepted the offer but now wish i had just sold on market - commsec won't let me withdraw it. The media commentary was that the take-over was a 'done deal' anyone got a view on this? It seems take up of the offer has only just sneaked over 50% which surprises me. Any learned investors out there with a view on how this proposed take over is proceding?

janz

 
crudeoil
post Posted: Jun 12 2007, 11:08 PM
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In reply to: toilet on Friday 26/01/07 12:46am

Spot on toilet,


Just topped up my holding last week and sold $5 calls against all my stock.


Cheers

CO

 
pkay
post Posted: Feb 5 2007, 01:54 PM
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QUOTE
Multiplex advises that it has now received a formal approach from Brookfield Asset Management Inc. (“Brookfield”) which may lead to a proposal for the acquisition by Brookfield and Roberts Family Nominees (RFN) of 100% of the underlying businesses of Multiplex Limited, including Multiplex’s property development, construction, property funds management and facilities management businesses.

At this stage Brookfield has provided no information in respect of valuation and limited information in respect of key terms. Brookfield has sought the Board’s approval to enter into discussions with RFN to develop a proposal and has indicated that any proposal put forward by Brookfield would be conditional on the involvement of RFN.


The offer would need to be north of $5.50 to succeed, imo.
smile.gif

 
fastenyourseatbe...
post Posted: Jan 26 2007, 07:33 AM
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Wolv, toilet,
As soon as the Wembley debarcle was closing i bought in and recently meant to top up when it dropped back to 3.78 but work got in the way anyway i still hold enough to give me a sizable return so cant complain.

Lets hope this opens up extra interest which i think it will.

Multiplex has a fair bit of prestige for what they do it would be a nice trophy to wear round ones neck we may see another $1.50 yet! wink.gif



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toilet
post Posted: Jan 26 2007, 12:46 AM
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I think if you can get in on MXG at $4.80 or under now
its still good opportunity.

Why ?

Well MXG sum of the parts valuation methodology gives a $4.23 per sher value
(found by each group EBIT and peer group multiples)

and if you take that as a break up value

and whack on at least 20%-25% takeover premium
4.23 x 1.25 = $5.29
4.23 x 1.20 = $5.05

So im predicting the the offer price be at least $5.05 and potential for more
if there is more than one party intersted.

Only my opinion

 
wolverine
post Posted: Jan 25 2007, 08:54 PM
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In reply to: wolverine on Monday 23/10/06 02:15pm

FYSB, it had to have a payday eventually.

i must have gotten lucky it does look like being one of the better performers over 12mths. (i meant real companies, not pennies).



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TOO MANY CHIEFS

NOT ENOUGH INDIANS
 
fastenyourseatbe...
post Posted: Jan 25 2007, 01:32 PM
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Whooshca!
I new this little baby would come good! biggrin.gif



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normc
post Posted: Dec 28 2006, 03:14 PM
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MXG has entered into an Enforceable Undertaking with ASIC to make a settlement to stapled security holders who bought on or after 3 Feb 05 and settled for purchases on or before 31 Aug 05. The total settlement is $32M. This relates to an investigation by ASIC into a lack of disclosure about the Wemberley fiasco. Related entities are not entitled to compensation.

I made four separate purchases of MXG, all in that period, so looks like I'm in for some compensation. I'm not complaining, but I think the time window for compensation is too wide. My earliest purchases were made without full disclosure from the company. They led the market (and me) to believe the risk of further write downs was low when they knew this was wrong. My later purchases (but still within the time window), were made on the basis that I thought they had been over sold (regardless of the Wemberly issue), which turned out to be right. I've made a 20 to 25% capital gain on these later purchases (as at today) and I will still receive compensation.

Not complaining mind you, but this is largely a matter of transferring wealth from one group of shareholders to another.

Overall though, it is good to see a company picked up on non disclosure. As long as ASIC continues to press this issue with other companies. Pigs might learn to fly first though.

 
 


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