My average purchase price was around $30.00 when the acquisition...

My average purchase price was around $30.00 when the acquisition was announced. I figured that by diluting my holding with the maximum $30,000 worth of shares, I could reduce that average to around where we are currently trading with relatively cheap, $22.45 SPP shares. Looking at our graph for the past two years tells me the mid-20s isn't much of a stretch -- especially since the ANN shares were $26-odd a couple of weeks ago.

Also, we're towards the end of the (dubious) cost-cutting programme, and de-stocking of our customers of their Covid inventory (hopefully much of the hard yards have been done). Inflation has worked through the system and trading is normalising. And most of the brokers have upgraded Ansell to mid-to-high $20s on the back of the acquisition. Plus the purchase itself will allegedly be EPS accretive.

With the 10-15% discount and stock-specific tail-winds behind us, I found the spare cash to participate. I'm not a trader or chartist, but Ansell is as boring and lacklustre as stocks come. I am not anticipating a fall to below $20 no matter what the market does. My hope is to finally get my head above water for the first time in 2.5 years! Perhaps with an opportunity to lighten my position at break-even over the next few months.

Having said all that, I won't be too disappointed if it's scaled-back! An extra $30k of Ansell shares will really mess with my portfolio weightings!

We shall see soon enough. Good luck to all.