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NOL
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jackson5
Master |
18-Apr-2016 21:29
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Buying was aggresive today at 1.275 . free floats running out soon . |
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sgng123
Supreme |
14-Apr-2016 11:11
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End of april approvals for anti trust should come, volume super thin compared to 1q meaning weak holders weed out and free float volume in market dry up. Just need the approval so CMA can seal the deal with temasek then followed by general offer. If u believed in the preminary offer 1.50 offer with no condition, cma would had 340 mil saving from th discount, more than enough bullet to raise offer to reach 90% for delist. Anyway not gona do anything when offer letter come, let the bb fight for better price while we watch |
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jackson5
Master |
14-Apr-2016 09:37
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CMA looks more desperate to see the deal through , believe CMA will raise offer price . |
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granto
Master |
12-Apr-2016 16:26
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APL to exit G6 in bid to ease EU antitrust concerns: http://splash247.com/apl-exit-g6-bid-ease-eu-antitrust-concerns/ |
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jackson5
Master |
12-Apr-2016 09:12
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Anti trust outcome shoud be anytime from now . |
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sgng123
Supreme |
28-Mar-2016 14:29
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Cma open market purchase currently stand at 5.2% source bt._ |
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sgng123
Supreme |
25-Mar-2016 04:33
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NOL got history of failed privatisation at 1.2 X PB valuation in 2004, the same lot of stubborn CPF investors still around and CMA had to buy over them with better offer. CMA more scared than everyone if they fail to delist after paying US$1.6B for temasek stake, as they need to create cost saving through merger and divestment of NOL non core assets to bring down debt gearing. Getting into billion debt and fail to delist NOL nightmare senario for CMA |
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jackson5
Master |
24-Mar-2016 16:02
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Hi sgng123 , Do you CMA will have to riase offer price to get NOL delisted ? Just your frank opinion . Thanks.
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sgng123
Supreme |
24-Mar-2016 04:07
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Deal not confirmed till antitrust approval from US,China and EU, stragetic asset sale is like that since nol sale involve interest from big powers. Anyway only singapore willing to sell, rest of export driven countries die die hold on to their national carrier. When approvals obtained share price would shoot to 1.30 due to impending sale of temasek stake to cma then general offer would commerce and most likely drag for months till acceptable offer reached. Not so straight forward, long ass offer deal dragging to 4q16. By the way it not easy to soap up open market purchase since bank support don come till approval so had to save ammo for unpreditable outcome of deal. Slow accumulation till approval by the way who selling, high chance is hedging bet that need to be cover later |
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ttimer
Member |
23-Mar-2016 13:54
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Should just offer 1.305 to soak up the rest on the open mkt | ||
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sgng123
Supreme |
23-Mar-2016 13:38
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As we edge toward 2q where approval for antitrust would come, more short covering by house hedging since basically no investors selling . Most volume transacted mostly hedging bet by house on deal not going through. Expect lot of hedge covering in apr before volume dry up and the showdown begin |
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meckyjunior
Member |
23-Mar-2016 10:13
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Yesterday CMA bought 5.6million NOL shares at between 1.265 n 1.27. | ||
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jackson5
Master |
22-Mar-2016 22:54
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CMA is not buying today again , it seems they give up buying from open market for fear of pushing the share price too high and end up crossing 1.30 . Game over for delisting unless CMA increases its offer price . |
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serious
Master |
22-Mar-2016 11:29
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Edging up closer to 1.30 ! |
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sgng123
Supreme |
19-Mar-2016 11:05
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5 100% owned in us, japan and taiwan , 3 joint venture in asia. The big prize is the one in LA biggest in us west coast with extensive reach to inner us and east coast through owned railway system. Most of them are bought 20 years ago with market valuation not mark to current market valuation |
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jackson5
Master |
19-Mar-2016 08:22
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sgng123, Thanks for sharing . By the way , what/where are the port terminal assets ? Are they in PSA ? Sorry to ask beause I am not in shipping line . Many thanks.
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sgng123
Supreme |
19-Mar-2016 01:44
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Market run out of free float shares most likely as antitrust approval expected in mid Apr to end May. Trading houses also stop hedging these days and volume super low. Going by latest data CMA CGM had 4% and add to temasek stake approx 71%, high order to convince remaining 29% to sell at 1.30 as the offer comes with condition CMA support sg export by setting regional distribution centre here. Big discount given as ex CEO mentioned port terminal assets not marked to market value which is further confirmed by cma announcement a total divestment of us $1b on non core asset after merger. Lot of under table dealing between cma and temasek which we don know , best course of action when offer came is do nothing and wait out. |
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jackson5
Master |
18-Mar-2016 22:10
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CMA stopped buying in last few days. |
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taxiuncle
Veteran |
16-Mar-2016 12:52
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Slow n steady....... |
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sgng123
Supreme |
12-Mar-2016 16:36
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1.30 done deal for temasek 67%, temasek deal with CMA don represent all NOL investors. CMA had to make separate general offer for remaining nol investors after becoming NOL biggest shareholder after getting temasek 67% for US$1.6B. CMA expressed strong desire to take nol private for merger of operation. So whether we get a better offer is a big question but minimum bid offer set at 1.30 depending on take up rate bid might be adjusted. By the way CMA nol stake edge at 4% in march, that show how determined CMA wanna to take NOL private. The 1.30 offer come with condition that CMA shift their regional cargo centre to support PSA so cannot rule out temasek give a big discount with respect to nol full realised valuation. This one just act blurred and do nothing , let the hedge fund and bb with more bargain share holding do the job |
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