Glad to see we're getting a dividend at least (albeit small.)...

Glad to see we're getting a dividend at least (albeit small.) When you factor that and the 7c cash component of the LFS offer into the current SP, we are getting the Commercial business for peanuts on market. Based on the HCF valuation, the consumer lending has to be valued at around 80c stand alone.

I'm not a big fan of the deal, but I think HCF will perform better under LFS (even though Rebecca will still be in charge,) and could surprise to the upside for long term holders prepared to ride out the volatility, collect the dividends and wait for the big buyers to soak up the register as it grows, especially when it makes the ASX300.

I just hope we don't get screwed by AA and his PE buddies. Either way, HUM's true valuation is closer to $1.50, but might only be realised by breaking it up and making the most of the current offer. I'd still prefer a decent all cash offer for the whole company.