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honestly being bought out now even at £7 would cause me more problems!
I would prefer to have my capital parked with a business I understand and receive 30% dividends!
It is and MNZS are perfectly positioned to capitalise.
Firstly growing their cargo business, the growth was phenomenal and projected to grow.
Also airlines are now sub-contracting ground services rather than doing inhouse as the airlines also look to streamline their core business and focus on filling seats.
Look at the new Quantas contract, 40,000 turns a year (worth £40-60m per annum to MNZS). Quantas used to do ground logistics inhouse, now they have sub-contracted to MNZS. This will be repeated around the world with all carriers. Swissport are still struggling since they had the Chinese owners, brand has been tarnished. MNZS will pick up many more.
i agree Convb... but the aviation industry is different to.
Its an estimate. The EPS in previous years was around 20-30p per share.
With the improved profitability and increased revenue (especially from emerging markets) it will be around 40-45p in 2023.
yes...but this is a different mnzs...
The blob and deadwood removed with £25m in savings...huge new contracts adding £120m pa in revenue. This is a very different company.
Convb, how can you forecast what the dividend will be ? I am just asking as I dont know and couldnt figure out when looked into it?
I think they will launch an offer with maybe a final slightly higher cash offer then we would see price move to the offer price or over in anticipation off any possibility off other suitors entering the ring.So think I’ll hang in hoping they do push on with the offer.
I agree a divi is great but its been about 5yrs since this was over £7...
£7 sure, lets talk about it...
But a £7 share price plus paying me a dividend for a for years is even better.
It really depends how big your dividend is...for example if it is 6 figures you want to extract a few years of that...
unfortunately every man has their price... a £7 per share would seal the deal id say
I hope the board does not sell.
This share will rocket when the dividends start, the upcoming EPS is incredible. I will be making a 30% plus return from my dividends...where else can you make 30%!!!!!!!!!!!!!!!!!!!!!!! They board knows this also, why sell and give this up?? MNZS IS NOT FOR SALE.
NAS looking to sweeten the deal so the price here really should be settling around the £5 level before next improved offer…. Menzies board looking for improved cash offer I’d say the bells and whistles can be added later. I’m sure other Aviation service handlers are looking closely at the numbers and it wouldn’t surprise me to see another approach manifest from the sidelines.
Looking at the time line of the offers (17th Jan, 2nd Feb)- the news was not as 'leaky' as I would have expected, although clearly it was becoming more widely known since the start of the week.
The fit between the two companies is quite compelling which adds weight to the possibility of the bid increasing.
https://www.londonstockexchange.com/news-article/market-news/statement-re-possible-offer-for-john-menzies-plc/15322901
Any further offer is unlikely to include shares, as NAS is listed in Dubai, so that would be unattractive to many. A further cash offer would be delightful!
Asking and getting are two different things. I had fair value here at 470 or so, but calculated that a year ago, prior to some of the acquisitions and contract wins. To me 510 is not an unreasonable bid. The board may become too greedy. They have a fair amount of skin in the game, and excellent industry expertise, so are well motivated and informed. I just hope they don't push it too far. I also hope we see a Swissport rival bid!
Looking at the defence statements I think the company are saying there worth at least between £6.50/£7.00 a share.The only thing I don’t no is if the bids over the last ten years we’re cash or share bids or bit of both.
The board are valuing MNZS at 780p!!
As per transaction EV / LTM EBITDA multiples paid in comparable transactions (page 8) the median is 9.8x.
Implied EV / 2019A EBITDA multiple based on NAS’ Proposal (2 Feb 2022) of 510p per share = a multiple of ONLY 6.8x
Therefore the board believe the new business is worth 53% approximately more than the 6.8x multiple or 510p, which is equal to 780p!!!!!
This is awesome.
Swingman...where did you come from??? LOL...what a clown!!
Smithy...Did you just join LSE to say that to me, I am flattered.
I like Putin, much more than the Biden administration.
Bye
I think the Holodomor was pre ww2
The current offer is very good. Jam tomorrow may well turnout to be sour grapes.
Convb shall we talk about Russia's history of systematically starving millions on Ukrainians during ww2. Pretty sure they were the first to invade Afghanistan, also barrel bombing Syria to keep another Dictator in power.
They are scared Ukraine will align closer to the west and grow clear of Russia's influence which is why they are playing the only hand they can which is force. Not sure what planet you are living on
Conv
Some useful info from Menzies about the takeover offer.
https://menziesaviation.com/wp-content/uploads/2022/02/FINAL-VERSION-00.25-Bid-Defence-Shareholder-Deck-slides.pdf
This will be get interesting over the next days/weeks. MNZS are in the best state to be acquired.. clean company with super business. Now that the news is out , someone will come near to BOARD’s asking price, whatever it is. FOMO effect!!!
Btw before anyone asks I am holding big quantity since 2020. So have studies MNZS in detail. And have many past comments on this board including my holding count !