ajtwentythree if you think now the Fosun Group offer price for ROC of 69c, is "too low in my view" why were you so sure the HZN merger was such a good deal back in May?
"I'm both a ROC and HZN shareholder (although prior to transaction was considerably more bullish on HZN) and am struggling to seem why some roc posters are so against this merger. It seems you're all jumping on the coat tails of one (fairly unimpressive) activist investor. I think you all need to dyor."
Can someone give me a coherent reason why they think this deal is bad for roc shareholders? Note, I think it's transformative and the market seems to agree (both roc and HZN up around 10pc since announcement). "
If it was such a great deal for ROC s'holders, and many HC posters explained to you back then why it wasn't, why is HZN currently @34.5c and ROC @67.5 [[with an TO offer of 69c]. now that the merger of less-than-equals has been trumped.
Let me see now today's stand-alone closing price for HZN is 34.5c,
so 34.5c X .724 = 47.65c equivalent price for ROC.
If the merger had not been stymied by Allan Gray and by quick thinking ROC shareholders [and tellingly voted against by 51.16% of ROC voters] we would be getting 47.65c for ROC not 67.5c today or the 69c offer which you suggest is too low!
And ajtwenty', how about that Allan Gray who you said were only in it for the short term, a 'corporate raider' you said, who've actually held ROC for more than 5 years I was informed, fancy that Allan Gray mob still holding ROC months later and saying this today...
"... which has been welcomed by Roc’s largest shareholder Allan Gray.
Allan Gray portfolio manager Simon Marais said on Monday he “would be supportive” of the all-cash offer, which is priced at 69¢-per-share and is conditional on just 50.01 per cent acceptances."
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