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This is the power of buy and hold in good shares !
Btw, I like this forum, so much is happening... but this forum and shareholders including me are so cool about it !
In other forums there would have been so much noise even when nothing really was happening !!!!
Just thinking how much will be my 60,000+ shares worth now ! (my number of shares is timestamped on this very forum in my post dated 16th March 2021)
Another 25% pop. Glad I never sold! :D
Yep, was hoping for a rise to this over 2-3 years so more than happy to have my jam today and reinvest in other bounce back opportunities.
605p …. Good offer
Yes, EU flight numbers coming up nicely, Pret Index for UK airports looks good and a strong return in US footfall despite the continuing cold weather across large areas (which MNZS also benefits from by de-icing).
The results are on the 8th March and the deadline for the offer is the 9th (which will be no coincidence) - they are going to be an interesting couple of days.
Figures out last night seem pretty decent. Suggests travel is back on the menu for the middle classes.
Delayed trades from the middle of the day. An institutional holder is possibly taking some profit, or the shares are simply transferring from one holder to another. Latter seems more likely.
What was that last trade ?
*median
The board are absolutely correct.
NAS uses a EBITDA value multiple of 6.4x to get to 510p per share.
As per page 8 of the defense pack the industry media is an EBITDA multiple of 9.8x which is equal to 780p per share (note Swissport which was in a much worse state was bought from its Chinese owners at 10.9x multiple)
Also MNZS suggest the NAS offer is conditional.
So absolutely no way is this offer being accepted.
The board wearing their finest ramper hats ..... and I'm good with that tbh. There has to be more in this! ...... as long as they're realistic and not merely trying to stay in for purely selfish reasons. Though trying to orchestrate events here ultimately it's not the board that'll determine things here though. Currently offering silver let's hold for gold ...... 18crt! ;-) GLA
Yesterday NAS-
'Menzies' board and management team have chosen not to engage with NAS or share any information to corroborate their differing views on the company and industry, and therefore valuation.'
Today Menzies-
'In addition, the NAS Proposal fails to take account of the execution of Menzies' strategy and the significant potential value creation driven by:
· The full impact of management actions not yet reflected in Menzies' valuation;
· The return of underlying volumes to pre-pandemic levels with Menzies well positioned to benefit as a global player in a market with proven structural growth; and
· The pipeline of higher margin opportunities that we believe will generate approximately £80 million of net new annualised revenue from commercial opportunities and approximately £150-200 million of new revenue over the short to medium term from several business development opportunities.'
So it depends on what value Menzies and their key shareholders thinks this adds to the price.
I agree, I was not sure that Menzies were going to sell out, but after the last rns's from each party it is clear that it is just a public negotiation that almost inevitably will end in a sale.
It does rather seem like negotiation by megaphone, given today's missive from MNZS. Or it may just be a pitch to maximise the price?
The MNZS board are not even speaking or communicating to NAS. NAS are negotiating against themselves.
MNZS is not for sale. Certainly not for 510p
2021 Results published soon.
????
Some directors will get massive LTIP rewards if this stays independent, so this may also colour their judgement. To me 510 is a very decent offer, and I would be surprised to see another, higher bid. We may just have to hold on.
MNZS has a number of loyal institutional and major private holders who hold a significant chunk of the business, so suspect they will be informing the BoD as to agreement price! I have no idea how this will play out but suspect if no other bidder declares shortly, bid maybe withdrawn. The 510p does not fully value the potential future earnings of MNZS imv.
"NAS has today again requested information access and dialogue with management. NAS looks forward to engaging with Menzies' shareholders in parallel."
NAS are not giving up, and have NOT explicitly ruled out a higher offer. However I tend to agree with them that 510 is a pretty fair offer. The share price last hit that level almost exactly three years ago. and then there were an awful lot fewer shares in circulation. Management may get too greedy here.
NAS complaining they dont have full disclosure yet offered 510p!! Lol
MNZS have huge contracts about to be signed, standby for RNS for some of the largest aviation logistic contracts ever signed...and MNZS return to pre-pandemic levels much earlier. The MNZS board are mauling NAS, this is wild!!!
510p no way. Lets start with a 7.
Er latest RNS, NAS still claiming that 510p is fair value. Ummm, it's a big NO from me.
Hi again F1
I am holding about thirty stocks, with most in insurance, oil and other financials. This is largely coincidence, rather than a conscious effort on my part. I look at the fundamentals of companies, and buy when I think there is value there. I bought MNZS because, although there is a fair bit of debt, it seemed to have failed to recover noticeably, and was pottering along making a decent profit even in hard times. It is not my usual buy at all! I am now of an age when I am acquiring some dividend payers for retirement. Hence I have a decent few AV. and DLG. You seem to have a nicely diverse portfolio there. Much more so than me!
Good morning @andsoforth,thanks for the info.Re takeovers, I was lucky to make a little money from Morrisons and Blue Prism.I have a combination of aviation,tech,mining,retail and banks.The only reason my portfolio is now very slightly in profit is due primarily to Menzies this week.What type of stocks do you hold ?
Hi F1
If there is a takeover, the offeror will state the terms quite clearly, and there will be a vote. In this case the offeror is listed in Dubai, so they will probably NOT offer shares in their own company as part of the deal. Any offer is likely to remain all cash. If a deal is accepted, you can still sell, but will likely get a bit less than the offer price. Some people will do this to free up the cash. BUT don't forget the offer has yet to be accepted. The Board are NOT currently recommending it, and say the company is worth much more. This could still fall through, and around half of takeover offers never come to fruition. Also there is a possibility another bidder may come in, such as Swissport, which could force the price higher. I had fair value here in the 400s!!!.
CONGRATULATIONS on your success so far though! I should really ask you what else you have your eye on!
Also, please be aware most posts on these boards are pretty ill informed, and some are designed to deliberately mislead. Be careful! On top of this, please know I am a rank amateur with a very poor investment record.
@andsoforth,Im new to investing with a lot to learn.It’s been stated that when the takeover happens the shares are automatically sold ( ie no option to hold / transfer to new company )…I am now confused ( richer than last week though,thanks to Menzies )
Good luck, my friend. Don't forget the option of continuing to hold. Give it a year or two and the dividend should be reinstated, and this could return to being a decent income play.