has sgp telegraphed their intentions on fkp?, page-3

Agree with PP and CL except that I might add- with Mulpha holding around 25%, at an avg price higher than what's suggested as "fair value" and SGP book value, SGP has no hope of acquiring the balance of FKP at anywhere near 70-76c.

Look at FKP's book value of the retirement annuities stream... nearly $975m after impairments.

We should keep in mind SGP's main interest is in the retirement assets though, and not FKP as a whole. It would be less demanding financially and maybe easier (to convince Mulpha to sell) to focus on their main target and not the whole company.

I also note that SGP's NTA is accounted for at $3.61 and SGP's close yesterday was $3.41.
Nearly all REIT's were offering massive discounts to NTA but SGP has closed that gap. There is very good potential for FKP to do similar over the next 6 months if all keeps sailing smoothly and a liitle takeover hype remains.

Market is now valuing SGP at a 5% discount to NTA.
But market is still valuing FKP at a 50% discount to NTA. That's 10x the discount - but FKP is clawing back that discount.

My only concern is the age of FKP's retirement assets. FKP seems to promote that as a positive but surely when the vast majority of your assets are in the 10-20 yo bracket, thats surely got to mean extensive renovations and/or replacement in the near future?
Any comments on that you guys?