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MCU, MITCHELL COMMUNICATION GROUP LIMITED
terrine
post Posted: Nov 4 2010, 08:51 AM
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MCU GORN

The banks are too dear a play for me

 
SAM172
post Posted: Oct 29 2010, 05:52 PM
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At the moment, can't go past TLS, at today's prices over 10% div ff

Also, thinking to offset my MCU gain with some dividend stripping - ie get ff div from likes of NAB or ANZ and realise a capital loss - any flaws with this strategy ?

(apart from risk of SP falling by more then div on ex-div day)



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Uncle Sam
 
terrine
post Posted: Oct 29 2010, 03:32 PM
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In Reply To: SAM172's post @ Oct 29 2010, 02:42 PM

Your HIN is registered for the offer so I dont think you can sell. there will be those that have not accepted that perhaps are now realising a better price, sophisticated and arbitrage companies i suppose that know what theyre doing.
I sold into the market when the price was good before divvie and am now on the lookout for a div payer with upside.
i have a small holding with HOM http://www.sharescene.com/index.php?showto...2225&hl=hom that I have had for several years, they recently returned 35cps as a capital return to shareholders and are now trading around 60c paying a 10% and better return plus franking. NAB took a big share in this one last year and I am watching it for an entry point.
Do you have any other confident suggestions

 
SAM172
post Posted: Oct 29 2010, 02:42 PM
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Today (brief) rise to 122.5c left me a bit puzzled.. unsure.gif

Q1 : What would be anyone's rational to pay 122.5c (surely it is too late for any "white knight" bid) ??

Q2 : Can I still sell on market even if I accepted the offer already ?



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Uncle Sam
 
terrine
post Posted: Aug 10 2010, 04:32 PM
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In Reply To: SAM172's post @ Aug 10 2010, 12:42 PM

Hello SAM172,
Looks to me like the deal was pretty much set in concrete before the market was advised but we can only live in hope we may realise a better return. As I said in my last post, dont sell now, its way below the offer, as far as I can see AA stand to make over $1 million plus franking credits at the levels they bought ($1.235ish)

 
SAM172
post Posted: Aug 10 2010, 12:42 PM
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Anyone knows what's this substantial holding from Allen Arbitrage is about ?

C'mon someone - make a counter bid !! lmaosmiley.gif


Good assets going cheap... (wish I had $400M to spare..) tongue.gif



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Uncle Sam
 


terrine
post Posted: Aug 4 2010, 03:18 PM
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In Reply To: gatsby321's post @ Aug 2 2010, 10:14 PM

I havent sold my holding yet as the cash and divvie offer has not been exceeded.
If you sold your holding on market at less than the current 1.235 you may have cost yourself over $13000 plus some franking credits.
I agree another offer appears distant and big H is looking after his families interest, I am sure he will be fine, as you say there is only a years escrow I think I read, so retirement on a bed of greens doent look all that bad.
As far as things to buy ... I suppose its whether you are looking for a mid/long termer, a divvie payer or a trade.
Its hard out there - cash is king - opportunities may arise in the not to distant future, the world is far from over its financial woes.


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gatsby321
post Posted: Aug 2 2010, 10:14 PM
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In Reply To: terrine's post @ Aug 2 2010, 02:32 PM

Yes you have a point. The problem is the only other buyers are WPP,Omnicom,Publis amd Interpublic. If Harold did this deal with any of them he would be very small shareholder and have little say. He would not like that. So.if they make offer,Harold says sure I will take offer but says I want all money and I will leave. No multi is going to agree to that. Harold wants to rule the media buying market and is one of the best in the world. So maybe it is worth taking Aegis shares but you take exposure to Aegis in many markets,a board that has no directors with real skin in the game and the possibilty of Harold not getting on with Bollore ,who are the biggers shareholders. Harold has very strong opionins and will just sell in 2 years if there is an aggro. So you have massive share overhang. Net net I have sold my 200,000 and are looking for something to do with the money-any ideas.


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terrine
post Posted: Aug 2 2010, 02:32 PM
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In Reply To: gatsby321's post @ Aug 1 2010, 12:04 AM

The Mitchells will get all the upside of continuing MCU within AEGIS as will sophisticated and corporate shareholders confident to accept the non cash offer and trade the AEGIS shares. Shareholders who do not wish to hold foreign based shares have no choice but to take a very opportunistic low cash offer. I still have Looksmart shares, now based in the US, that I have little idea whats doing other than voting mail. I cant see the aquisition as dilutery when it is probably EPS positive let alone $580m in assets for $363m.
I have been a shareholder since the beginning through the highs and near collapse of EMI and I am very dissapointed that directors as usual have looked after number 1.



 
SAM172
post Posted: Aug 1 2010, 09:18 PM
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In Reply To: gatsby321's post @ Aug 1 2010, 12:04 AM

Considering how cheaply they getting it for - any chance of counter bid ?? (Yeah, i know - wishful thinking.. blush.gif )



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Uncle Sam
 
 


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