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PHY, PACIFIC HYDRO LIMITED
michaelirish
post Posted: Apr 24 2005, 01:13 PM
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Anyway this stock has a great future

 
moblum
post Posted: Apr 23 2005, 01:00 PM
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In reply to: michaelirish on Tuesday 19/04/05 03:15pm

Hi, I have to say... I (stupidly in hindsight) was short this stock at $4.34 thinking no real bid would materialise... I closed at 4.44 (owch). just thought it had run too hard and might come back. Now I'm closed I watch in awe. I can see this being bid upto $5.00. Can't believe Acciona (Spanish mob) will back down for another 10c even with the $6mil break payment. And then ball is back in IFM's court. Having said that I've called it wrong with this stock before...................

 
michaelirish
post Posted: Apr 19 2005, 03:15 PM
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In reply to: michaelirish on Thursday 31/03/05 07:59am

Pacific Hydro Recommends IFM A$4.60 Cash Per Share
Takeover Offer (in the absence of a superior proposal)
Pacific Hydro Limited (ASX:PHY) has entered into a Deed of Undertaking (the Deed) with its largest
shareholder, Industry Funds Management (IFM), under which IFM will make an offmarket
takeover bid
at $4.60 per share for all the shares in Pacific Hydro that it does not already own. IFM’s offer has a
minimum acceptance condition of 50.1%, and values Pacific Hydro at $725 million on a fully diluted basis
for 100% of the equity of Pacific Hydro or $881 million including debt. The independent directors of
Pacific Hydro unanimously recommend that shareholders accept the IFM offer, in the absence of a
superior proposal, and intend to accept the IFM offer for their personal shareholdings.
IFM currently owns 31.6% of the shares in Pacific Hydro. IFM has been a major shareholder

 
michaelirish
post Posted: Mar 31 2005, 06:59 AM
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A deal is on the way?

http://www.theage.com.au/news/Stephen-Bart...1862460427.html

 
watchmaker
post Posted: Mar 30 2005, 11:43 PM
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In reply to: ScottD on Wednesday 30/03/05 10:28pm

Unfortunately the stock is not being valued on its own merits, that's why IFM are not selling. IFM are primarily interested in solid growth investments, not short term capital gains. This miserable offer is no where near true value for the company. It's that simple. Behind IFM is one of the largest superannuation funds in Australia, with 600000 members, and $7b in assets. Knowing how to value a company, has in the past been one of their great great assets. Unfortunately the share market at large knows too little about these serious investors.

It is all very well for Jeff Harding and some of the others to recommend a sale, in Hardings case he stands to cash his own shares for more than $4m, -an amount of money he has probably never seen before.




 
ScottD
post Posted: Mar 30 2005, 10:28 PM
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In reply to: balance on Wednesday 30/03/05 11:51am

I guess "won't sell at all" means that no 90%-condition bid can succeed, so the stock is back to being valued on its own merits, not as a take-over target.

Scott

 

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balance
post Posted: Mar 30 2005, 11:21 AM
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I'd like some reasoning why the stock is currently less than the offer?
If its true the biggest holder is not selling one would expect they want more on the table or they wont sell at all and thererfore the 90% will not be achieved ?

Any further ideas welcomed.



--------------------
Day Trader: Lowest form of life in the known universe.
Shorter: Can limbo under a day trader.
Investor: Salt of the Earth.Sits to the right of God (Warren Buffet)
Share prices are only ever manipulated down.
Paper losses are not really losses.
Chat site posters always know better & know more than anyone about anything.
I'm 29.
The cheque is in the mail.
 
watchmaker
post Posted: Mar 30 2005, 12:10 AM
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In reply to: rosskend on Tuesday 29/03/05 10:57am

It is not over yet, the largest shareholder- 34%, is not selling, and they need a 90% acceptance

 
ScottD
post Posted: Mar 29 2005, 10:47 PM
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In reply to: ComSense on Tuesday 29/03/05 09:05pm

It closed below the bid price, so this might be it.

We have the choice of accept $4.50, or hang on and try our luck.

 
ComSense
post Posted: Mar 29 2005, 08:35 PM
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In reply to: rosskend on Tuesday 29/03/05 10:57am

Whats everyones thoughts about a higher bid occuring?

 
 


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