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WBA, WEBSTER LIMITED
nipper
post Posted: Oct 3 2019, 09:17 PM
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In Reply To: PeterH's post @ Oct 3 2019, 03:22 PM

QUOTE
opportunistically taken over by the much more savvy Canadian pension funds
..but we, or at least Macquarie, taught them, with MIG into Hwy 407 way back when. As usual, the Oz follow-through was deficient.



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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
 
PeterH
post Posted: Oct 3 2019, 03:26 PM
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In Reply To: PeterH's post @ Oct 3 2019, 03:22 PM

P.S. I should mention that I predicted this here in a post February this year:
"PSP Investments is picking off all our best investment opportunities while we dumb Australians just sleep on. I am not going to go into detail as I do not want to cruel my own pitch. Suffice it to say, they will make a bid for WBA too, but this time they may not be aware who they are up against. If Chris caves in to any offer we can rest assured that he will have extracted the best price."


 
PeterH
post Posted: Oct 3 2019, 03:22 PM
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In Reply To: nipper's post @ Oct 3 2019, 09:45 AM

Yes, OK, I will do alright out of this, but it pains me that Australia's best listed assets are one after another being opportunistically taken over by the much more savvy Canadian pension funds. I am not blaming the directors in recommending the T/O. It's a no-brainer, but!!!
C'mon Australia, wake up to what you've got.


 
nipper
post Posted: Oct 3 2019, 09:45 AM
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Canadian Pension Fund buying Websters ... $2.00 in cash



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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
 
PeterH
post Posted: Jul 11 2019, 04:39 PM
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In Reply To: blacksheep's post @ Jul 11 2019, 10:43 AM

Thanks for that BS.
This morning the Hansen-Young kiddie had herself interviewed on Radio National on the subject. Now that she is on the case we can be assured of a lot more misinformation. The position she has taken is, as you would expect, the outcome of her level of comprehension entangled with her abhorrence of the free enterprise system.
I am not too concerned. This will all die a natural death - put to death by the disinterest and inability to understand the issues by the public at large.


 
blacksheep
post Posted: Jul 11 2019, 10:43 AM
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Chris Corrigan and ABC trade barbs in stoush over Murray Darling report

QUOTE
Industrial titan Chris Corrigan has made an incendiary attack on the ABC in the wake of a Four Corners' report on the Murray-Darling Basin management plan, claiming the national broadcaster "failed to understand the basic principles" of the water policy and wants to "bash big business".

Mr Corrigan became a household name in the 1990s as the boss of Patrick Corporation when it took on unionised stevedores at Australia's ports. He now chairs the ASX-listed walnut, cotton and cereal producer Webster Limited which was featured in the ABC story.


Not a good look - "Mr Felizzi said while he accepted the annual report had been "poorly worded" - reports/analysts/shareholders rely on info contained in AR to be correct - not poorly worded

QUOTE
The ABC said it then provided written questions to Mr Felizzi. "Given the company had already (aggressively) declined to assist with the program or to be interviewed, allowing them six days to respond to eleven written questions was more than ample," the ABC said.

Mr Felizzi then responded, but the ABC said some of his answers contradicted information contained in the company's disclosures to shareholders.

"Our reporter explained that Four Corners would be relying on the information contained in the annual report unless Webster intended to inform shareholders that the information provided to them was incorrect," the ABC said.

Information that Webster provided in response to Four Corners' questions was "incorporated into the program, insofar as was required to ensure accuracy, fairness and balance," the ABC said.

Mr Felizzi said while he accepted the annual report had been "poorly worded", there was no inconsistency between it and what he told Four Corners.

Webster's 2018 annual report said the company would "add an additional 8100 irrigable hectares." In fact, Mr Felizzi said, Webster was not increasing the amount of land it was irrigating but rather changing the type of irrigation it employed on that land.


https://www.smh.com.au/business/companies/c...710-p525vt.html

4Corners "Cash Splash" video - https://www.abc.net.au/4corners/cash-splash/11289412

Four Corners shows 'fundamental misunderstanding' of water plan, says Webster chairman - https://www.abc.net.au/radionational/progra...ebster/11294638


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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington

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PeterH
post Posted: Feb 20 2019, 01:20 PM
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In Reply To: nipper's post @ Feb 19 2019, 05:02 PM

Well spotted Nipper.


PSP Investments is picking off all our best investment opportunities while we dumb Australians just sleep on. I am not going to go into detail as I do not want to cruel my own pitch. Suffice it to say, they will make a bid for WBA too, but this time they may not be aware who they are up against. If Chris caves in to any offer we can rest assured that he will have extracted the best price.


You can bet that PSP also has QUB on its shopping list. Irreplaceable assets are what PSP are after and there are fewer and fewer of them left for us.




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nipper
post Posted: Feb 19 2019, 05:02 PM
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QUOTE
Agricultural conglomerate Webster, chaired by Chris Corrigan, is keeping a close eye on its largest shareholder, which is steadily creeping up the share registry. The Canadian Public Sector Investment Board (PSP Investments) has increased its stake in Webster over the past few months, prompting speculation around what might be next.

Notices lodged with the ASX shows that PSP now owns 19.5 per cent of Webster, and it has flagged its ambitions in expanding in the Australian agriculture sector.
- water rights



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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: Aug 20 2018, 02:40 PM
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In Reply To: PeterH's post @ Aug 20 2018, 02:17 PM

QUOTE
If Chris thinks it's in his interests then it's in ours...
I'm all for outsourcing the decision making process smile.gif



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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
 
PeterH
post Posted: Aug 20 2018, 02:17 PM
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In Reply To: nipper's post @ Aug 20 2018, 10:17 AM

There is no way we mere shareholders can appraise the merits of this deal Nipper. We just don't have the data and the detail of the strategy. Thankfully we don't have to. If Chris thinks it's in his interests then it's in ours. No doubt he has another killer deal up his sleeve to put the proceeds to good use.
I see the cotton price is coming off a tad too. I know that is only a season to season thing, but the timing tends to assuage any regrets about the sale.


 
 


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