GFF - Goodman Fielder

[Bill M]

Good luck so-cynical I hope it works out. It's never easy to decide exactly what to do under these circumstances, cheers.

 

[So_Cynical]

Good luck so-cynical I hope it works out. It's never easy to decide exactly what to do under these circumstances, cheers.

Agreed...its almost never easy to make the right choice, so glad i didn't panic and sell at the bottom thou.

 

[skc]

I've come this far...i think ill wait for break even @ 0.73 ill put in the sell order tonight and see what happens, Wilmar have money and Australian food and drink producers have always been a big favourite of the foreign investors.

You really didn't think i was gona get out of this without a loss did you bill?

Was just thinking about your GFF position today. While I think it is just luck you are able to be down only 15%, you seem to run into these kind of lucky situation more often than others. So well done.

People are not entirely sure what wilmar is doing yet. A full takeover or a blocking stake? The other possibility is some pseudo strategic partnership on production and marketing.

http://in.reuters.com/article/2012/02/28/goodman-wilmar-idINL4E8DRA1Y20120228

 

[skc]

Big profit downgrade today. Previous guidance was for flat EBIT and reduced gearing, now they are looking at 10-15% lower and same gearing.

Are the issues at GFF structural? A walk down the supermarket today vs 3 years ago you will find that in-store bakeries are every where, and house brand breads are always near the entrance. You actually have to look hard to find those branded breads. GFF is reduced to being a supplier of doughs and house brands, while the Big 2 extract all the margin.

GFF has admirably tried plenty of innovation... but $6.59 for a loaf of Helga? What have they got in it? Gold flakes?

And don't you hate it when a company issues a nothing-announcement two days ago (Completion of sale of meats business), giving investors a false sense of security that all is just steady as usual... then follow up with a nasty profit downgrade 2 days later.

 

[VSntchr]

GFF has admirably tried plenty of innovation... but $6.59 for a loaf of Helga? What have they got in it? Gold flakes?

Not a big bread eater myself, but I always have a chuckle when I walk past and see "white toast" for $1 (note that they don't even call it bread, its just toast). Then you've got your helga/artisan breads for ~5-7x the price...for not all that much difference in ingredients...ahh the power of marketing & consumer positioning!

 

[oldblue]

Yes, GFF do have a structural problem in that their business model doesn't work these days. The power is with the supermarkets and GFF has almost been reduced to the level of a commodity producer. I sold the last of my GFF some time ago.

 

[So_Cynical]

(8th-February-2012 ) I've come this far...i think ill wait for break even @ 0.73 ill put in the sell order tonight and see what happens, Wilmar have money and Australian food and drink producers have always been a big favourite of the foreign investors.

Over 2 years later and the takeover offer has finally been put on the table, 65c not impressed.

http://www.bloomberg.com/news/2014-...s-1-2-billion-takeover-offer-from-wilmar.html

Would be wonderful to get out of this trade with at least my money back after so long.

 

[So_Cynical]

Revised offer out today, 70 cents per share and a 1 cent dividend.

http://www.asx.com.au/asxpdf/20140516/pdf/42pnqyk28y4w7q.pdf

Still not enough.

 

[oldblue]

Revised offer out today, 70 cents per share and a 1 cent dividend.

http://www.asx.com.au/asxpdf/20140516/pdf/42pnqyk28y4w7q.pdf

Still not enough.

But probably all that's going to be offered. The bid has been around long enough to flush out any competing suitors, I would have thought?

 

[So_Cynical]

But probably all that's going to be offered. The bid has been around long enough to flush out any competing suitors, I would have thought?

Agree, i will be very surprised if someone comes along to trump the offer...i imagine i will try and sell on market for a cent more if possible.

 

[McCoy Pauley]

Revised offer out today, 70 cents per share and a 1 cent dividend.

http://www.asx.com.au/asxpdf/20140516/pdf/42pnqyk28y4w7q.pdf

Still not enough.

Australian Financial Review reported this morning that the revised bid has attracted the support of two major shareholders (Ellerston Capital being one of them) and that they will sell a portion of their holdings to the bidders now to get them over the 20% threshold. Seems unlikely that there'll be any more bids, especially as it's been declared final.

 

[oldblue]

The Age reports that GFF board will recommend the revised offer.

http://news.theage.com.au/breaking-...epts-137b-in-takeover-bid-20140516-38dpk.html

 

[System]

On March 19th, 2015, Goodman Fielder Limited (GFF) was removed from the ASX's official list following implementation of the scheme of arrangement by which Wilmar International Limited and First Pacific Company Limited acquired all of the shares of the Company.