Cerebos Pacific

(01-08-2012, 06:13 PM)Nick Wrote: Delisting offer at $6.60 / share ! Anyone huat ?

I think I can give myself a gold medal - for the number of great companies I've missed! Arrrgh.

I agree that another excellent company is going to leave SGX.
Cerebos has been consistently giving out generous div of 25c every year.

(01-08-2012, 06:42 PM)changwk Wrote: I agree that another excellent company is going to leave SGX.
Cerebos has been consistently giving out generous div of 25c every year.

Another delisting offer. After Adampak and potentially APB... High quality companies certainly have no lack of suitors.. Ride was good while it lasted..

Is it a done deal, or it still can be overturned?

Frankly i don't feel happy about that. Firstly, the offer price is not great. The most i can call it is a reasonable price and can be better. Secondly, it will be big headache for me to look for another equivalent company in SGX, with such good brand name and good dividend.

I rather leave my money with this stable co and collect dividend year by year, together with some capital gain.

Gosh, any equivalent company like Cerebos in SGX?

No wonder it halts for some time. This stock is also in my watchlist as its fundamentals are strong. Unfortunately, the price is too high. Too bad it gets delisted.

Next one.... Maybe The Hour Glass ??? Guocoleisure.. ??? United Engineers ?? WBL ????

(01-08-2012, 11:27 PM)crabcrab Wrote: Next one.... Maybe The Hour Glass ??? Guocoleisure.. ??? United Engineers ?? WBL ????

Crabcrab, why you compare Guocoleisure with Hour glass? Different pedigree ok

here is some food for thought.

Cerebos has 17.42% of shares not held by Suntory. at $6.6, it will cost Suntory $365 mil to buyout the remaining 17.42%. but if we take cash reserve of $140mil and debt of $65mil into consideration, it will have a net cash of $75mil. Suntory is effectively paying $290mil to take Cerebos private.

does $6.6 look a good offer this valuable company?

The exit condition is upon the approval of the Delisting Resolution by a majority of at least 75 per cent. of the total number of issued
Shares, and the Delisting Resolution not being voted against by 10 per cent. or more of the total number of issued Shares.

With Suntory 82.58% holding, what is the chances this offer will lapse?

I also read they will be sending out the offer letter, if i do not reply the letter, is it considered i vote against the offer?

The price should be better, considering its brand value, it should be at least $8 to $9.

(02-08-2012, 10:58 AM)hongonn Wrote: I also read they will be sending out the offer letter, if i do not reply the letter, is it considered i vote against the offer?

You will have to attend the EGM or send in your proxy if you want to vote against the resolution.

Notice that this privatization is slightly different from k1 Ventures. k1 do not table a delisting resolution but a takeover conditioned on 90% acceptance. So for k1, if you do nothing and more than 10% did the same as you, minority keeps the company listed, and may result in a higher offer.

If you do nothing for Cerebos, Suntory will swallow it, gulp!!!

(01-08-2012, 09:15 PM)hongonn Wrote: Gosh, any equivalent company like Cerebos in SGX?

You may wish to review Del Monte. Same kind of shareholding structure, strong consumer products, stock trading at above book value, dividend yield is also comparable.

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Oh, it's Cerebos Pacific and Del Monte Pacific. Funny right? Hahaha!!!