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MAI, MAINSTREAM GROUP HOLDINGS LIMITED
nipper
post Posted: Jun 10 2021, 12:55 PM
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In Reply To: nipper's post @ Apr 12 2021, 08:22 PM



but there has been more interest
QUOTE
Mainstream said it has received another unsolicited proposal from Apex, offering $2.80 in cash for each Mainstream share.

The fund administration provider is currently considering the offer and will update the market in due course.






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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Apr 12 2021, 08:22 PM
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the $2 cash offer is from a player
QUOTE
SS&C is a global provider to the financial services and healthcare industries, including wealth management, registered funds, hedge and private equity fund administration, transfer agency and retirement and pension fund services, including Australian Superannuation Funds. Founded in 1986, SS&C is headquartered in Windsor, Connecticut. Some 18,000+ financial services and healthcare organisations, from the world’s largest institutions to local firms, manage and account for their investments using SS&C’s products and services.

MAI up 60% today; opened at $2.03 and ended the day close to the offer, at $1.97. .... Is there a counter offer? (unlikely, IMO)




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
nipper
post Posted: Apr 12 2021, 07:04 PM
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MainstreamBPO (MAI) was listed on the ASX in September 2015 at 50c a share .... It is one of the largest independent fund administrators in Australia. The Company provides administration services to the wealth management sector of the financial services industry. As at March 2015 the Company had Funds under Administration of approximately $50 billion.

The Company operates three businesses:
QUOTE
FundBPO: provides fund administration services for investment managers
SuperBPO: provides superannuation administration services for superannuation trustees
ShareBPO: provides share registry services for listed companies and exchange-traded funds

As would be expected, it is very much a bread and butter business; take a clip, keep costs as low as possible and keep margins steady. So the price action was underwhelming.
On 20 Oct, 2017, MainstreamBPO Limited changed its name to Mainstream Group Holdings Limited, keeping the MAI code.
and now, 2021,
QUOTE
Mainstream is sitting on a $1.20 a share bid from offshore suitor Vistra, and has signed Vistra to a scheme implementation deed designed to see the offshore suitor take control in coming months.

However, Mainstream also negotiated go shop provision, giving it one month to solicit competing proposals. Vistra has customary matching rights during that time and options over a 19.9 per cent stake, but has said it would not stand in the way of a superior proposal.


And today ... a Superior Proposal has emerged from SS&C Technologies Holdings for $2.00 cash per share by way of a scheme of arrangement, being a 67% premium to the price per share offered by Vistra on 9 March 2021.



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
 



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