Z Is for New Zealand except That The Z Energy Board Recommends Shareholders Accept $2 Billion Ampol Offer

Z is for New Zealand is what they've always said… except that the Z Energy board recommends shareholders accept $2 billion Ampol offer which would make it not for New Zealand

https://www.stuff.co.nz/business/126639796/z-energy-board-re...

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Comments

  • +1

    Whether it is good or bad for NZ depends on whether $2b is a stonking good price, or a poor price, or just 'somewhere in the middle' (likely).

  • +1

    Poor price to me. The board seems misdirected. The dividend allowance is no good. Z themselves said they saw a dividend of 19-23c per share. On offer here is only 10.5c. So we are being ripped by at least 10c per share. If anything, you should buy more shares, vote no, and wait for AMPOL to up the deal or another bidder to appear. If people buy, the share price will increase and force them to either retract the offer or update it. A lot. In an idea world selling off our only fuel company to Aussie would get outrage all over social media. But yeah. Not really a sexy company any more. I still think their value is over 4.00 per share.

    • Clearly no idea what you are on about, Z is at a p/e of 30+, this is a great offer for the company as is right now.

      • You forgot to say "In your opinion" it's a great offer. Ampol talks it up so much I wouldn't be surprised if another offer comes in from elsewhere. This buy is going to be financed almost completely from debt. To me this shows that ampol, and their bank are very very confident they are getting a bargain. Time will tell who was correct I guess. I bought more yesterday at $3.61

        • -1

          As of today, this is a great offer based on P/E, forward earnings forecast etc.

          "Time will tell" is not a metric as of today, because the company will become valuable over time. This is basic economics.

  • Z is for New Zealand. Not sure what that means, but in real life, the Z station around here are always the most expensive and sometimes 10-20c per litre more than Gull.

    If thats what for NZ means - then im all good with the Aussies Ampol and their Gull - hopefully when they sell it which they have to do to buy Z - the new owner will keep it up .