Offer outrages disenchanted TTP shareholders
Sunday 4 April 2004
Disenchanted Trans Tasman Properties minority shareholders are angry at the offer from majority shareholder SEA Holdings, predicting the deal will be shown up to be unfair and unreasonable.
By The Landlord
Michael Connor, who runs Epsom investment service Income Master, said SEA's 40c share offer made this week was a joke and far too low."It's completely derisory. It's farcical. You've got to be kidding me," said Connor, adding that the net tangible value of TTP equated to 63c a share.
He expects Grant Samuel to be commissioned to write an independent report on the offer and is sure any assessment will result in criticism of SEA for making its offer too cheap.
Read More - Opens in a new window
Commenting is closed
Property News
Downward pressures might push investors out
There’s a major housing market downturn coming and it’s likely to reduce the number of investors in the market, according to ANZ economists.
Commercial
Industrial holdings leave Provincia in strong position
Tales of strife and problems abound in the commercial property world these days, but the impact of the Covid-19 pandemic has not been as devastating for all commercial players.
Mortgages
OCR reaction: Reserve Bank open to lower, negative rates
Economists say that the Reserve Bank has left the door open to lower or even negative rates, as it kept the official cash rate on hold in its Monetary Policy Statement (MPS) today.
