i wasn't assuming that
OZL has plenty of interests in small and mid-cap miners , and i was thinking one of those is being snapped up ( or just a controlling stake without a complete buyout )
i would rather keep the OZL
my average buying price is just over $5.17 ( and rescued that investment cash a couple or years back ) i would rather OZL as a bottom drawer stock , instead another bundle of cash i need to find a home for
although i am losing faith in BHP ( i already hold a comfortable amount ) , would probably go for the scrip in preference ,Yeah, pretty tough having to find a place for a six bagger - less capital gains. It'll be a script offer I imagine so I suppose it's a question of whether you want the cash or the BHP shares. I'll be selling I think to buy something more speculative so I can then lose it all.
Happy to help you out with that cash, Divs.i would rather keep the OZL
my average buying price is just over $5.17 ( and rescued that investment cash a couple or years back ) i would rather OZL as a bottom drawer stock , instead another bundle of cash i need to find a home for
James Gerrish
Oz Minerals (ASX: OZL) $26.30
OZL (halted): was in a trading halt today pending the announcement of a change of control transaction - a takeover in other words. As we know, BHP bid $25 a share for the Copper miner and that price was rejected without giving BHP the chance to look under the hood. Two things could be happening here:
Our well-regarded (Shaw) analyst on OZL Peter O’Connor wrote this recently…. To get to GAME point BHP may need to think closer to $40/share. Our recent missive, which joined the dots to peer RIO vs TRQ bid – highlighted that a $40/share valuation was not out of the question.
- BHP could have made a new bid which is clearly ‘Material’ for OZL (hence the trading halt), but not for BHP given it would represent less than 5% of their market cap, however, while the letter of the law says BHP don’t need to be halted, the profile of this deal in Australia is big and we would have thought BHP would stop trading while the news was being worked through.
- This brings up the prospect that another suitor has joined the fray, whether that’s Glencore or some other global player, it would certainly make things more interesting and create more tension in the price
i hold OZL ( 'free-carried' ) and BHP
looks like the OZL board lacks backbone and should resign if shareholders reject this offer
| NAME | LAST NOTICE DATE | DIRECT SHARES | INDIRECT SHARES | OPTIONS | CONVERTIBLES |
|---|---|---|---|---|---|
| Mr Richard Phillip Seville | 11/03/2022 | 0 | 16,750 | -- | -- |
| Mr Charlie Sartain | 09/12/2020 | 0 | 80,000 | -- | -- |
| Mr Peter Wasow | 04/03/2020 | 0 | 20,000 | -- | -- |
| Ms Rebecca Joy McGrath | 23/02/2022 | 0 | 56,292 | -- | -- |
| Ms Tonianne Dwyer | 18/03/2020 | 0 | 19,900 | -- | -- |
| Dr Sarah Elizabeth Ryan | 02/09/2021 | 3,500 | 5,000 | -- | -- |
| Mr Andrew Cole | 08/04/2022 | 173,589 | 597,831 | -- | -- |
Punters don't like it. Trading $1 under the indicative price which is odd. Need Glencore to come sniffing about.
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