what do people think is the probability of getting a takeover offer in the next few months? there was some speculation in the Australian about this:
https://www.theaustralian.com.au/business/dataroom/inghams-group-on-the-boil-as-takeover-talk-turns-up-the-heat/news-story/45529213fcc2c5f1526f7c8b7d7322fa
At the current P/E it certainly does look cheap but it does have its issues as they outlined in the update. My feeling is a foreign buyer like JBS might be interested or perhaps a global poultry exporter as there is alot of talk about how much poultry prices are rising particularly in Asia - if someone wanted to take advantage of that, they could buy Ingham on the cheap and say export to Singapore, Thailand etc.
https://edition.cnn.com/2022/06/02/asia/singapore-chicken-shortage-malaysia-export-ban-intl-hnk/index.html (rising chicken prices in Singapore)
https://www.bloomberg.com/opinion/articles/2022-05-26/chicken-prices-are-surging-thanks-to-three-pandemics-and-a-drought (Thailand saw a one third increase in Chicken prices in a month - the article talks about export opportunities in Asia and other parts of the world)
https://www.channelnewsasia.com/asia/indonesia-looks-export-chickens-shortage-hit-singapore-2757961 (Indonesia is trying to take advantage of high singapore prices)
https://www.straitstimes.com/asia/se-asia/chicken-being-sold-at-double-the-price-in-malaysia (apparently malaysia had an export ban and now chicken is apparently double the price there)
Its interesting that some of the importers like Singapore seem to have a preference for non frozen chicken but there may be a way around that - live exports that are slaughtered on ship or close by maybe? super chilled but not quite frozen? or the boffins at inhams have other ideas on how to deliver fresh chicken at a low cost. I feel with the way beef prices are exploding, chicken has ALOT of potential.Its interesting to see the price gap between premium beef such as wagyu, Grain Fed, Angus etc . With sky high beef still climbing, I see chicken being a good alternative going higher and a good export opportunity as well, especially in Aisa.
just my random thoughts hoping for a takeover offer in the next few months.
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