Forum Archive Index - January 2002

["tennyson@caverock.net.nz" <tennyson@caverock.net.nz>]

Hi Pete,
>
>
>I've got in my procession some CEN shares I bought (at ~$3.10)when
>contact first went public. I see that some U.S. company Eddison is
>offering $4.16/share (plus I get the dividend). 
>
>
You should have already got the dividend.

Clear your mail more often Pete.  That offer came out in November 
last year. 
>
>
>If I sell, it leaves me with a profit of around 34% (over 3 years 
>which isn't too bad).
>
>
Agreed
>
>
>As I am very new to this share trading game, can anyone offer their
>opinions on whether CEN should be thought of as a long term 
>investment or whether I should take up the offer? (and buy some more 
>CEN shares at ~3.85 :)
>
>
The fact that Contact shares are trading significantly below the 
offer price should tell you something.  There are conditions on the 
offer (they need 90% of shareholders to accept), and no-one gets a 
payout from Edison if they don't make that 90% acceptance level.  
Edison, by now, also can't increase the offer price before the offer 
closes.   

What the market is telling you is that the offer is effectively dead.

So your choices are to hang onto the shares, or sell on market.  What 
you do, really, depends on why you bought the shares in the first 
place and what other investments in the sharemarket you have. SNOOPY





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