AMC - Amcor Limited

[Realist]

I just wonder whether BPC are taking over AMC, BPC are in trading halt, I've bought AMC as a punt in case they are...

It's a good company, and was thinking of buying it anyway...

 

[Sean K]

AMC would probably be in a halt as well.

This rumour was floating about a few weeks ago.

Hart is more into food now, but I wouldn't be surprised if he grabs this old dog.

 

[CanOz]

Amcor and corregated in general is a miserable business to be in. The margins are thin, raw material is expensive, your customers are screwing you down because thier customers are screwing them down. Aluminum cans are the same. CCH is in the same boat too. All of this and lots of industrial action as well.

I would never own a packaging company's stock.

 

[Realist]

Analysts say Amcor would interest Burns Philp because there are affinities with timber group Carter Holt Harvey, which Mr Hart controls after a $3 billion takeover.

Investment bankers are advising Amcor on a restructuring and on possible asset sales. Attention has focused on Amcor's fibre packaging business.

Analysts told the SMH that if Amcor does not sell the business to Mr Hart, he may make a hostile takeover bid and break the company up.

Amcor's shares, however, did not jump yesterday, ending 6c higher at $6.39.

 

[CanOz]

Realist, what do you think of Amcor's SP in terms of fair value? I.e. what do you think a fair price for the company is?

Also, are there any ACCC concerns there?

 

[robert toms]

Trivia...did you know that in Dec 1995 Amcor's price was $9.59.

 

[Realist]

Realist, what do you think of Amcor's SP in terms of fair value? I.e. what do you think a fair price for the company is?

It is fairly valued.

Goes ex-dividend in a few days.

Maybe worth a punt buying today and holding for a week or 3 to see if BPC make an offer, and to get the dividend?

It's up a bit already from where I bought it a few hours ago.

 

[CanOz]

BPC gapped up straight away when the trading resumed. Would you believe i've had two small positions in BPC over the last two months. I just sold one out last week.

 

[Realist]

BPC gapped up straight away when the trading resumed. Would you believe i've had two small positions in BPC over the last two months. I just sold one out last week.

Bugger.

I'm guessing BPC will go up to between $1.09 and $1.13 tomorrow.

I believe RANK are wanting to buy the shares at $1.10.

So no great loss.

MRE was a bigger loss for you.

Well you win, some and you lose some. No use crying over spilt milk.

 

[swingstar]

Trivia...did you know that in Dec 1995 Amcor's price was $9.59.

Not on my data... the highest it's been is $9.20 in 02. In Dec 95 its high was $7.78.

 

[robert toms]

I copied that price from an old newspaper that I had in my shed....amongst other prices anz 6.26 cml 4.26 qbe 6.19 wow 3.20 flt 1.65 erg 1.58 etc.Without tracing my records I believe that I paid well over eight dollars for AMC in 1997 and sold out at a loss about two years ago...when I go thru records will make a point of looking it up and verifying...if only to myself

 

[Realist]

I think yesterday was a great day to buy, BPC takeover rumours, an upcoming dividend and now this.

AMC should be on the up...

Amcor to change fibre packaging business
August 23, 2006 - 9:34AM

Amcor Ltd says it will restructure its Australasian fibre packaging business as it targets annual cost savings of $60 to $80 million.

The company has reported a net profit of $351.3 million for 2005/06, up 43.2 per cent from the previous year.

Amcor chief executive Ken MacKenzie said the new Australasian management team had spent the past 12 months developing a comprehensive plan to improve earnings and returns.

"The main components of this plan involve investment in a new paper recycling mill, located in Botany, substantial restructuring in the corrugated box plants and positioning the business to ensure an improved customer and market focus," Mr MacKenzie said.

"Although current earnings and returns are not satisfactory, the industry fundamentals are sound and Amcor is a significant participant in the market.

"It is critical to be a cost competitive producer, an outcome which this plan will deliver."

He said the net cost of the plan, to be implemented over the next four years, was approximately $300 million.

 

[Julia]

This lacklustre company sat in my portfolio from October 2004 (bought at 7.18) until I sold it in disgust December 2005 at 7.10.

I've taken no interest in it since until I noticed this thread and was curious enough to see what the SP is now - last sale yesterday $6.50!

Julia

 

[Realist]

This lacklustre company sat in my portfolio from October 2004 (bought at 7.18) until I sold it in disgust December 2005 at 7.10.

I've taken no interest in it since until I noticed this thread and was curious enough to see what the SP is now - last sale yesterday $6.50!

Julia

Do you think that makes it a bad buy now?

In my mind that makes it an even better buy now!!

Out of interest, what else have you sold in the past year Julia?

 

[Realist]

AMC is now $7.02 and has just gone ex dividend at 17c.

take over rumours, or just "investors" getting into a fairly cheap stock?

Or is it the buy back?

Either way it is doing well.

 

[Realist]

It is $7.12 now, there is something going on alright!!

 

[Sean K]

1523 [Dow Jones] Amcor (AMC.AU) up 1.2% at A$7.03, hits 4-month high of $7.07 after crude hit 6-month low of US$61.60 overnight. Dealers alert for any takeover rumors, but none surfacing today. Daily close above A$7.03 would be quite bullish technically, but crude has major chart support at US$60.00. If it bounces, Amcor could fall again. Minor support A$6.82. Resistance A$7.10. (DWR)

 

[swingstar]

I'm bearish on AMC. I traded it down recently and I think we're in for another fall down to $6.40. It tends to be fairly contrarian though. I think over the next few days we'll know more about where it's going.

 

[Sean K]

I think over the next few days we'll know more about where it's going.

he, he. Is that the same as 'we'll know where we're going when we get there.' LOL.

 

[swingstar]

he, he. Is that the same as 'we'll know where we're going when we get there.' LOL.

lol, well it's right smack bang on a very important price for resistance and support, $7.00. It has made some very nice swings from here in the past.