SUN - Suncorp Group
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Re: SUN - Suncorp-Metway
Do we know if it will be an all-scrip offer?
It could be that the capital being raised by CBA for the BankWest t/o will include enough cash to buy SUN's banking business only. There's some speculation that the insurance business may not be wanted.
Disc: Not holding either CBA or SUN.
I dont mind CBA buying suncorp I like CBA, well run diversify group I will take the scrip offer
Most of my business are with CBA so may as well get them to own suncorp
Do we know if it will be an all-scrip offer?
It could be that the capital being raised by CBA for the BankWest t/o will include enough cash to buy SUN's banking business only. There's some speculation that the insurance business may not be wanted.
Disc: Not holding either CBA or SUN.
Re: SUN - Suncorp-Metway
Rumour has it that they will be looking at the banking section of the business only if either ANZ/CBA go ahead with possible take-over. Not sure what that would do to the shares as Suncorp incorporates numerous insurance companies as well...
Rumour has it that they will be looking at the banking section of the business only if either ANZ/CBA go ahead with possible take-over. Not sure what that would do to the shares as Suncorp incorporates numerous insurance companies as well...
Re: SUN - Suncorp-Metway
Yes, a nice exercise to estimate ( guess?) the relative values of SUN's banking and insurance businesses.
Yes, a nice exercise to estimate ( guess?) the relative values of SUN's banking and insurance businesses.
Julia
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Re: SUN - Suncorp-Metway
Cut to dividend flagged.
http://business.smh.com.au/business...dividend-20081028-5aif.html?sssdmh=dm16.34247
Cut to dividend flagged.
http://business.smh.com.au/business...dividend-20081028-5aif.html?sssdmh=dm16.34247
Re: SUN - Suncorp-Metway
I am surprised recently on the support for this stock above $10 when the company was clearly sick, the dividend was in threat and the management appear desperate to sell the business. I would be very interested though at the current prices of taking another look though I mean is there a possibility without a takeover that Suncorp will stay the same?
I am surprised recently on the support for this stock above $10 when the company was clearly sick, the dividend was in threat and the management appear desperate to sell the business. I would be very interested though at the current prices of taking another look though I mean is there a possibility without a takeover that Suncorp will stay the same?
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Sun - Suncorp
There is no thread on this stock so thought I might start one. Fundamentally how is the stock looking?
There is no thread on this stock so thought I might start one. Fundamentally how is the stock looking?
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Re: Sun - Suncorp
Thanks for starting this. I saw a newspaper article a week ago and saved it, couldn't find anything on here about Suncorp and forgot about it. It's about a possible TO of Suncorp, but i googled suncorp and takeover and came up with 30 odd stories from August to October last year. The one below is from last week and sparked my interest. As yet i have not looked into how Suncorp is doing.
http://www.news.com.au/business/story/0,,24878435-462,00.html
"Funding issues, impaired loans and capital management are all creating a challenging environment for the sector and the regional banks in particular," he told BusinessDaily.
"In light of these pressures I think there will be further consolidation in the first half of 2009."
Queensland-based banks Suncorp and Bank of Queensland are viewed as the most likely takeover targets.
ANZ and NAB are expected to engage in a bidding war for the Suncorp franchise, while French bank BRED Banque Populaire is viewed as a potential acquirer of BoQ after building a 9 per cent stake last year.
Thanks for starting this. I saw a newspaper article a week ago and saved it, couldn't find anything on here about Suncorp and forgot about it. It's about a possible TO of Suncorp, but i googled suncorp and takeover and came up with 30 odd stories from August to October last year. The one below is from last week and sparked my interest. As yet i have not looked into how Suncorp is doing.
http://www.news.com.au/business/story/0,,24878435-462,00.html
"Funding issues, impaired loans and capital management are all creating a challenging environment for the sector and the regional banks in particular," he told BusinessDaily.
"In light of these pressures I think there will be further consolidation in the first half of 2009."
Queensland-based banks Suncorp and Bank of Queensland are viewed as the most likely takeover targets.
ANZ and NAB are expected to engage in a bidding war for the Suncorp franchise, while French bank BRED Banque Populaire is viewed as a potential acquirer of BoQ after building a 9 per cent stake last year.
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Re: SUN - Suncorp-Metway
I read in the paper (think it was 'The Financial', don't have the paper in my hand atm) that Suncorp was just hours away from accepting a low ball offer for the banking division from the ANZ Bank, but the government bank deposit guarantee saved them... though Suncorp still say they are still open to offers.
I read in the paper (think it was 'The Financial', don't have the paper in my hand atm) that Suncorp was just hours away from accepting a low ball offer for the banking division from the ANZ Bank, but the government bank deposit guarantee saved them... though Suncorp still say they are still open to offers.
Bill M
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Re: SUN - Suncorp-Metway
From The Australian, click here for fully story.
Dividends, profit crash as Mulcahy plans Suncorp exit
SUNCORP today warned that its interim profit could fall by as much as 45 per cent and dividends could be slashed, as CEO John Mulcahy said he would step down when a successor is found.
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My opinion: I sold this stock 2 Months ago, I made a wrong call. Julia, I remember having a chat about this one with you. You were right and I was wrong. Anyhow I am glad I am out, this stock will tank big time when trading resumes. I have never seen an entitlement issue at a discount of 35 to 39% before. Things not looking good for Suncorp, I know it won't be easy for people to put their hands into their pockets to take up the issue but with a bit of luck it won't tank as low as the issue price of $4.50. Good luck to all holders.
For more information on Suncorp click on the following link for the announcements: http://www.suncorp.com.au/suncorp/shareholders/asx.aspx
From The Australian, click here for fully story.
Dividends, profit crash as Mulcahy plans Suncorp exit
SUNCORP today warned that its interim profit could fall by as much as 45 per cent and dividends could be slashed, as CEO John Mulcahy said he would step down when a successor is found.
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My opinion: I sold this stock 2 Months ago, I made a wrong call. Julia, I remember having a chat about this one with you. You were right and I was wrong. Anyhow I am glad I am out, this stock will tank big time when trading resumes. I have never seen an entitlement issue at a discount of 35 to 39% before. Things not looking good for Suncorp, I know it won't be easy for people to put their hands into their pockets to take up the issue but with a bit of luck it won't tank as low as the issue price of $4.50. Good luck to all holders.
For more information on Suncorp click on the following link for the announcements: http://www.suncorp.com.au/suncorp/shareholders/asx.aspx
Re: SUN - Suncorp-Metway
Hey guys, I'm after any advice or help regarding this one!
I bought in a few weeks ago and have already lost 20%.
Do you think I should cut my losses and sell and stick with SUN for the long-haul?
Much appreciate any suggestions...
Hey guys, I'm after any advice or help regarding this one!
I bought in a few weeks ago and have already lost 20%.
Do you think I should cut my losses and sell and stick with SUN for the long-haul?
Much appreciate any suggestions...
So_Cynical
The Contrarian Averager
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Re: SUN - Suncorp-Metway
Timings all important...i was lucky i didn't get my modest average down order filled this
week, SP would almost certainly fall below the 4.50 new issue price when trading resumes.
On the positive side of things...SUN will be well funded and still profitable and still with
good prospects going forward, the doom and gloom wont last forever...however its gona
be a long time till i see a profit with SUN.
Long long time....in for the long haul.
Lucky my Gold stocks are going off and sort of balancing out my portfolio.
Timings all important...i was lucky i didn't get my modest average down order filled this
week, SP would almost certainly fall below the 4.50 new issue price when trading resumes.
On the positive side of things...SUN will be well funded and still profitable and still with
good prospects going forward, the doom and gloom wont last forever...however its gona
be a long time till i see a profit with SUN.
Long long time....in for the long haul.
Lucky my Gold stocks are going off and sort of balancing out my portfolio.
Re: SUN - Suncorp-Metway
No one wants to, that's why traders take small losses. That's the only way to insure against big losses.
No one wants to, that's why traders take small losses. That's the only way to insure against big losses.
Julia
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Re: SUN - Suncorp-Metway
Just might be a warning, though, to anyone who thinks the dividends on the 'big four' can't be cut.
Bill, I take no pleasure in 'being right' about this. I've probably been wrong more often, for that matter.Bill M;3924 said:
Just might be a warning, though, to anyone who thinks the dividends on the 'big four' can't be cut.
Re: SUN - Suncorp-Metway
I'm a holder of SUN and have done since I was a staff member many years ago. I went to the entitlements site to check out whats on offer and there are all sorts of disclaimers you need to go through to get to see the documents as they are not offered legally outside australia.
I'm not currently a resident of australia and this is noted with the registry.
Does this mean im not entitled to any of the entitlements on offer to shareholders? Not sure I would buy in but would be good to understand what this means.
Does anyone understand the legal restriction of the viewing of these documents outside aus and nz?
I'm a holder of SUN and have done since I was a staff member many years ago. I went to the entitlements site to check out whats on offer and there are all sorts of disclaimers you need to go through to get to see the documents as they are not offered legally outside australia.
I'm not currently a resident of australia and this is noted with the registry.
Does this mean im not entitled to any of the entitlements on offer to shareholders? Not sure I would buy in but would be good to understand what this means.
Does anyone understand the legal restriction of the viewing of these documents outside aus and nz?
Re: SUN - Suncorp-Metway
I would think it's almost inevitable that some, at least, of the big 4 will cut their divs in the year ahead.
However, in today's interest rate environment even a 50% cut in divs will still produce a pretty reasonable yield, fairly close to historical averages.
Not so for SUN, unfortunately.
I would think it's almost inevitable that some, at least, of the big 4 will cut their divs in the year ahead.
However, in today's interest rate environment even a 50% cut in divs will still produce a pretty reasonable yield, fairly close to historical averages.
Not so for SUN, unfortunately.
Re: SUN - Suncorp-Metway
IMO John Mulcahy should give up his retirement bonus of $2.4 million, but I doubt it will happen.
http://www.news.com.au/business/story/0,27753,25015495-462,00.html
SUNCORP boss John Mulcahy is leaving Queensland's largest company after pocketing nearly $20 million as the company's value fell by $12 billion
...
He will walk away with the bag of cash at a time when the company's value as fallen nearly $12 billion from its peak of $19 million, again raising concerns about chief executives profiting even when company fortunes plunge, The Courier-Mail reports.
The Suncorp chief earned $7.6 million in cash during his time at the helm of the group and will get an estimated $2.4 million immediate payout.
IMO John Mulcahy should give up his retirement bonus of $2.4 million, but I doubt it will happen.
http://www.news.com.au/business/story/0,27753,25015495-462,00.html
SUNCORP boss John Mulcahy is leaving Queensland's largest company after pocketing nearly $20 million as the company's value fell by $12 billion
...
He will walk away with the bag of cash at a time when the company's value as fallen nearly $12 billion from its peak of $19 million, again raising concerns about chief executives profiting even when company fortunes plunge, The Courier-Mail reports.
The Suncorp chief earned $7.6 million in cash during his time at the helm of the group and will get an estimated $2.4 million immediate payout.
