Just wondering what is a fair price cum the 60c ff div?
The $1.45 payment under the scheme seems likely to go thru given the bidder is a serious player at a 3 billion market cap.
This is due next April so do discount a coupl e of percent.
Take off 5c for the chance the scheme fails.
Add 5 c for the chance another bidder comes in.
So $1.38 for starters.
Now super funds will value the Div at 80c given the Franking, corporates and 30% taxpayers 60c and higher income earners maybe 53c.
So the big buyers will be the super funds up to the ex Div date and I suspect they will pay 70c~ roughly.
this gives a valuation for me of $2.08.
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- Fair value now? $2.05?
Fair value now? $2.05?
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