View Full Version : APA getting worried ?
assasin8
20th Feb 2007, 08:52
Received a call from a lovely lass this evening, regarding the APA QF buyout... Wanting to make sure I understood how good the deal REALLY was for me ! As if the scare tactics (ie. if you don't sell now, you could end up with less money/delays/etc...) weren't enough !
Are they getting worried that they might not get their 90 % ? :ooh:
At least two crew have reported the same on Qrewroom (although you may be one of them! :} ). Is it rude to ask how many shares you may have? More than 1000, less than 1000? I'm just interested to see if they're targeting everyone or just those investors with more than X numbers of shares.
Statorblade
20th Feb 2007, 10:34
I'd be very surprised if anyone could stop the power of the institutional investors. That is the group that will control the outcome.
Small individual investors are dreaming if they think otherwise.:ugh:
Of course this is separate from any (however unlikely) government induced regulatory hurdles that may prevent APA from proceding.
Don Esson
27th Feb 2007, 03:17
I too have received a call from a Call Centre working on behalf of APA urging me to sell my meagre holdings. It was all very civilised but the guy was working from a prepared crib sheet from which he couldn't deviate. APA apparently have a small army of people trawling the White Pages to match names and telephone numbers. As it's costing a small fortune, what is it that these bastards know that we don't?
Also received a bit of paper in the mail this morning from APA which basically said we'll all be rooned if we don't sell to them. :E :mad:
Feather #3
27th Feb 2007, 06:26
A mate who has been called offered the advice that in his lifetime he'd been a shareholder in companies which had been taken over/bought out and NEVER had a personal phone call been required to help him make a decision.
Shakespeare had a good quote for this.....:rolleyes:
G'day ;)
27/09
27th Feb 2007, 09:10
Shakespeare had a good quote for this.....
Would that quote mention unsavoury odours in the state of Denmark? or something along those lines?
airbusthreetwenty
27th Feb 2007, 09:13
I've heard 8-12% getting thrown around. A few shares short of the 90% they require.
That might explain the phonecalls.
They have 8.89% on the 23 febuary they told the asx in a change in substancial holding statementissued on the 26 febuary
woftam
27th Feb 2007, 12:32
Bugger,what about Geoff's bonus!!!!! :)
Taildragger67
27th Feb 2007, 16:44
1. Spruiking is not unknown in corporate actions. They're reading from prepared scripts as the phone jockey probably isn't qualified to give advice...
2. My understanding is that this transaction would require at least 90% acceptance to get through; if that thinking is correct, it follows that non-insto holders who hold 10% +1 shares get together, they might be able to cause some furrowed brows.
3. Are the people making these calls actually giving advice? := :=
4. Acceptances usually start slow and flood in just before the due date. When is the due date again?
5. From the APA website:
The Independant Expert's Report confirms that if Airline Partners Australia's offer is unsuccessful, and no other takeover offer is announced, it is likely that the Qantas share price will fall.
a. FOR F:mad: K'S SAKE USE YOUR SPELL-CHECKER!
b. Grant Samuels's letter opines that the share price will fall. It's an opinion. They can confirm that it is their opinion, but they are incapable of confirming that it is likely to happen.
Yes I know I'm being pedantic but shouldn't these guys be crossing their Ts before I get to it?
6. In APA's offer document, there is a whole section devoted to their 'intentions'. One could argue that these 'intentions' are unenforceable if they are not 'promissory' in nature (and hence not worth a pinch); ask your lawyers about Kleinwort vs. Malaysian Mining [1989] 1 All ER 785 (an English case). Even a NSW case (ANI v BBL (1989) 21 NSWLR 502) turned on whether wording in a letter was 'promissory' in nature. :hmm:
In other words, their 'intentions' look good on paper but there is no imperative (other than moral and we know who we're dealing with here!) for them to be stuck to AT ALL once the dust settles.
Anulus Filler
28th Feb 2007, 01:19
Wondering why APA is getting a little twitchy??
Suddenly every single share is looking very important. Hence your phone calls!!
Go to:http://www.reuters.com/article/tnBasicIndustries-SP/idUSSYD14086720070227
Choose wisely:ok:
they have extended the offer by a month
Redstone
28th Feb 2007, 23:58
Reports last week (can't remember which rag) indicated that some institutions were leaning to the "no", seeing beter value long term with the status quo. APA not getting the dream run? Time will tell.
DickyPearse
1st Mar 2007, 02:25
As mentioned, APA have extended the offer by a month. This signals all is not well with the institutional investors. Remember that APA have to get 90% acceptances so it is far from a done deal - particularly as those that don't reply, are effectively voting no.........
The big question is, should it fail, where does that leave the Board? - lacking in credibility after their sterling efforts to get that extra $0.10 for shareholders and then caving in like a weak willed bunch of.......
lowerlobe
1st Mar 2007, 03:03
To be honest...
WHO cares about the board...are they losing any sleep over job security or conditions if the takeover goes ahead?
DutchRoll
1st Mar 2007, 03:23
Got the letter today practically begging me to sell. No phone call as yet though.
It is true that institutional investors ultimately control the outcome, but interestingly some big shareholders have already taken a neutral or negative line on the sale. Add to this the pressure overtly coming from political circles.
I would say it's stating the bleeding obvious to say that APA is extremely concerned, as is the Board. Think of those millions of $$ in fees fluttering off into the distance! There goes the new harbourside mansion! Poor buggers. It must really be grating on their nerves.:E
assasin8
1st Mar 2007, 05:31
Well, well, well... The Board's sh#t (s@#t) really does stink ! Have now received one phone call and a further two follow up letters... Maybe the institutional holders have got a smell of the stench coming from this takeover as well !
Surely they're also wondering what the management team have done to deserve the obscene amounts going their way if the buyout goes ahead...
:hmm:
LME-400
1st Mar 2007, 10:31
institutional holders
Why would they care ? For them it's all about profits.
Annulus Filler
2nd Mar 2007, 19:16
Profits and their own hip pocket. I can smell a rat a mile off if I could ever say so. Here is a time when I think all the little investors can come together and encourage boards that it is not totally all about profits. Yes we all want to make money and there is no denying that selling for $5.60 we will make some good money. But at what cost? Australia slowly losing one of its national icons to foreign ownership. Many jobs going offshore leaving Australians without a job. Getting rid of jobs all together to make the books look right. Have your say and sleep well at night knowing that you can save our national airline and remain a valued shareholder. Once it gets into the hands of the APA the only thing of interest is a profit and they are likely to do anything to get one. People Power. We can do it.
newsflash apa now has 11.88% of qantas shares
jack red
6th Mar 2007, 04:48
Australia slowly losing one of its national icons to foreign ownership.
Ansett was one of them once and no one gave a rats when the **** hit the fan. This sudden interest in saving Qantas for patriotic reasons is bunkum.
Show me the money APA ! :ok:
LME-400
6th Mar 2007, 04:51
Will the market 'correction' now encourage shareholders to accept and buy back into the market when the bottom is reached ?
LME-400
6th Mar 2007, 04:56
newsflash apa now has 11.88% of qantas shares
Is this just shares they have bought on-market ?
I don't see them reporting how many shares they have off-market till after the offer closing date.