GNC, GRAINCORP LIMITED

[farmer fred]

In Reply To: mullokintyre's post @ Oct 22 2012, 01:44 PM

No set figure, but am inclined to wait a little while to see if any other offers emerge, or if Graincorp can negotiate a better price.

Have a parcel I only picked up recently when the price dropped with the capital raising, plus the rights shares, which I'm thinking pretty hard about letting go at this price. At this point my greed outweighs my fear.

[mullokintyre]

In Reply To: farmer fred's post @ Oct 20 2012, 08:55 AM

go for it FF. In discussions with my broker, we decided that a 30% profit in two months is pretty good, so took 12.50 for the lot.
Now that the gloves are off, it may take a year or so before things sort themselves out and I am still nervous about the market.
A lot can happen in a year.
Do you have figure that would cause you to take the money and run??

Mick

[farmer fred]

In Reply To: mullokintyre's post @ Oct 19 2012, 02:29 PM

Looks like GNC might be interested at offers over $14.

"But Graincorp chairman Don Taylor said ADM would need to substantially up the ante if the target was to entertain a formal offer, saying $14 a share would be the starting point for discussions."

Full article
http://www.theaustralian.com.au/business/m...j-1226499618224

[mullokintyre]

In Reply To: farmer fred's post @ Oct 19 2012, 10:21 AM

need at least 13 before I even consider it!

Mick

[farmer fred]

In Reply To: mullokintyre's post @ Aug 2 2012, 12:37 PM

Looks like another ag company getting taken over. Archer Daniel Midlands, a $20 billion US company making a bid.They bought a large parcel at $11.75, hopefully we'll get more of a premium than that.

[mullokintyre]

Have added Graincorp to the port today.
With the continued poor summer grain yields in the northern hemisphere,
and prospects of good yields at least in the eastern seaboard (hoping that South western corner of WA get a boost of rain this weekend), the ducks seem to be lining up for AUS grain producers.

Mick

[Boots]

In Reply To: farmer fred's post @ Mar 22 2012, 08:13 PM

Good report at first glance plus the special divvie.

[farmer fred]

In Reply To: farmer fred's post @ Mar 21 2012, 12:51 PM

RBS Morgan is a bit more downbeat about the takeover valuation for GNC.
They use a lower EBIT forecast than this year ie for an average season to give a valuation of $13.94 in a takeover. Then they decrease this again because of Graincorp being a smaller company to $11.11. Personally sounds a bit pessimistic to me.
I'll be hanging onto mine for another year with this season shaping up to be a good year again with the possibility of another special dividend and the threat of a takeover hanging over it. Chance of the $A easing wont hurt either.