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Re: Re: [sharechat] flp - ffs

From:	chris <CMR64@student.canterbury.ac.nz>
Date:	Thu, 01 Jun 2000 10:58:50 +1200

The problem with that idea is that the other arms of Fletcher have to
vote in favour of the takeover, and there is no way FLB holders like
myself would allow what you are suggesting to happen.






Richard Hooper wrote:

   With all this due diligence stuff going on with FFS and FLP dont be
   surprised if some debt isnt taken up by the other sectors within the
group.
   This could make the valuations by outside parties be suspect.  Me ???
FFS @
   $1.50 sounds average, anybody else with a guess?
     Hoop


   ----- Original Message -----
   From: Murdoch Dryden <murdoch@arrowham.co.nz>
   To: <sharechat@sharechat.co.nz>
   Sent: Wednesday, May 31, 2000 4:34 PM
   Subject: re: [sharechat] flp - ffs


   > Hi Les
   >
   > I agree. The value of the NZ dollar and the current valuation of
Fletcher
   > stocks against a background of good commodity prices (they are
probably
   > peaking in their cycle) make them a good target for corporate
activity.
   > have taken a strong position in building and forests but risks lie
in
   > Fletchers ability to complete the sale process. Indications are
that they
   > are committed. The departure of the FFS CEO, a proponent of simply
   > restructuring FFS, is an indication of this committment.
   >
   > Issues lie with the time frame and the value of the final sale. FFS
is
   > apparently first on teh block. I have heard valuations between .95c
and
   > $2.00.
   >
   > There are those who aren't so positive, (see FFS valuation, an
earlier
   > thread).
   >
   >
   >
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