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GXL - Greencross Limited

Discussion in 'Stocks 0-H' started by System, Jul 19, 2010.

  1. greggles

    greggles I'll be back!

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    Greencross down around 20% to $4.25 today after announcing a FY2018 EBITDA downgrade of approximately 12%. Full year earnings are now expected to be between $97 million and $100 million.

    The company also announced that it now expects to recognise between $16 million and $20 million of primarily non-cash impairments which will be reflected in the FY2018 full year statutory result.

    I think that today's share price bloodbath may have been an overreaction as the market seems to be in no mood for earnings downgrades at the moment. As a result, the sell-off may have been a little overdone.

    In any case, the GXL share price is now back to where it was in the first half of 2013, so some may see this dip as a buying opportunity. My gut feeling is that it probably won't be too long until it sees $5 again.

    Time will tell.
     
  2. greggles

    greggles I'll be back!

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    My gut was wrong. However, speculation today about a takeover of Greencross has pushed its share price up 17.9% to $4.88. So it's almost back at $5. Here's the text of the announcement:
    Very cautious language but it sounds to me like a deal is ready to be made. It's no surprise that someone thought GXL represented value at these levels. All will be revealed very soon I'm sure.

    big.chart-GXL.gif
     
  3. greggles

    greggles I'll be back!

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    Greencross Limited has announced this morning that it has entered into a Scheme Implementation Agreement with Vermont Aus Pty Ltd an entity owned by funds managed by TPG Capital Asia and TPG Growth to acquire 100% of Greencross shares for $5.55 a share.

    Greencross directors have unanimously recommend the Scheme subject to an Independent Expert's Report concluding that the Scheme is in the best interests of Greencross shareholders and there being no superior proposal.
     
  4. System

    System Administrator

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    On February 27th, 2019, Greencross Limited (GXL) was removed from the ASX's Official List in accordance with Listing Rule 17.11, following implementation of the scheme of arrangement between GXL and its shareholders in connection with the acquisition of all the issued capital in GXL by Vermont Aus Pty Ltd.
     

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