Takeovers we've been forced to accept since 2005

2022-23

2021-22

Sydney Airport: sold residual 6 shares into takeover at $8.75, receiving $52.50 by direct debit on March 9, 2022.

Ausnet Services: received a direct debit of $242.03 on February 16, 2022 after Brookfield's takeover bid at $1.98 went through and 122 shares were compulsorily acquired.

Spark Infrastructure: received $55.35 by direct debit on December 22, 2021 for residual 18 shares after KKR and the Ontario Teachers bought the business at $2.95 a share.

ALE Property Group: received $36.73 by direct debit on December 17, 2021 for residual 6 shares after pub assets were privatised by Charter Hall and Host Plus in an offer valued at $5.88.

Vocus: received a direct debit of $66 on July 22, 2021 after the $5.50 per share offer from Macquarie and Aware Super came through. Owned 12 of them.

2020-21:

Coca Cola Amatil: direct debit of $279.72 arrived on May 10, 2021 after Coca Cola Enterprises scheme bid priced at $13.50 went through and residual 20 shares were compulsorily acquired.

Redflex: NASDAQ listed Verra offered 92c a share and the direct debit came through on June 18 2021 for $42.24 to snap up the tiny 46 shares held.

2019-20

Villa World: Received $14.25 by direct debit from on October 30, 2019 after $2.35 per share by AVID. Must have owned 6 of them. See final annual report.

Wellcom: Received $20.74 by direct debit from on November 27, 2019 after Korean advertising firm Innocean bid $6.70 a share, whilst keeping chair Wayne Sidwell in the tent with 15%. Owned just 3 of them. See final annual report.

Aveo: received direct debit of $21.50 on November 29, 2019 after Brookfield bid $2.195 per share. Must have owned 10 of them. See final annual report.

ERM Power: received direct debit of $23.35 on November 29, 2019 after Shell bid $2.42 a share so must have owned 10 of them. See final annual report.

Bellamy's: received direct credit of $63.25 on December 23, 2019 after Chinese firm Mengnui bid $13.25 a share. Owned just 5 of them. See final annual report.

Websters: received direct credit of $20 on February 18, 2020 after $2 a share bid by the Canadian Public Service pension fund. Owned just 10 of them.

2017-18

Programmed Maintenance Services: received direct credit of $51.48 on October 27, 2017 after Japanese takeover by Persol approved at $3.02 per share. Owned 18 of them. See 162 page scheme book.

SMS Technology: received direct credit of $33.96 on September 26, 2017 after ASG scheme approved based on cash takeover of $1.82 per share for an enterprise value of $132.5 million. Owned 19 of them. See final full year results and 182 page scheme book.

2016-17

Duet: received $48.47 by direct credit on May 15, 2017 after $3.03 per share scheme takeover by CKI approved. Owned 16 of them. See 360 page scheme book.

2015-16

UXC: received $13.42 by direct credit on February 26, 2016 for 11 shares. See 144 page scheme book detailing $1.24 per share bid US giant Computer Sciences Corporation. CSC went into the bid with 2124 Australian staff and $724m of annual revenues and UXC was turning over $686m. UXC claimed to have net assets of $232m and bid valued equity at $427 million so strong value was created. See final annual report.

2014-15

Toll Holdings: received $54.24 by direct credit on May 28, 2015 for 6 shares after over-priced $9.04 per share Japan Post bid. See 162 page scheme book. See final annual report.

2013-14


2012-13


2011-12




2010-11

Aevum: was compulsorily acquired by Stockland and received $17.70 for 10 shares after filling in a form. Should have been an automatic payment.

Centennial Coal: was compulsorily acquired by Thai company Banpu at $6.20 a share and received cheque for $198.40 for final 32 shares on December 23, 2010.

Choiseul: was compulsorily acquired by Milton Corp and forced to fill in new forms despite already being a Milton shareholder.

Lihir Gold: received 11 Newcrest shares in exchange for 86 Lihir shares.

Mitchell Communications: swapped into scrip from UK listed firm Aegis.

2009-10

Eircom Holdings: bought 160 at $3.01 on Jun13, 2008. Sold 160 June 3, 2009 at $1.08. Delisted as of January 5, 2010, following completion of the acquisition by Emerald Communications.

KLM Group: taken over by Programmed Maintenance Services. Received $79.90 in April 2010 through compulsory acquisition of final 170 shares at 47c a piece.

Mirvac Real Estate Investment Trust: was mopped up by Mirvac in late 2009 but I only had 10 shares left at the time.

2008-09

Midwest Corp (MIS): bought 218 at $2.30 each in August 2007, sold 150 at $3.12 each in September 2007, then sold balance of 68 into Sinosteel's $6.38 cash offer in September 2008, producing overall proceeds of $881.84 and a net profit of $360.50. The profit on the takeover bid component was $277 in 13 months.

MYOB: bought 150 on 19 Dec 2005 at $1.10 each. Compulsory acquired by Manhattan Software Bidco Pty Ltd following it's successful takeover in Jan 2009 at $1.15 per share. Myob was subsequently delisted.

Portman Mining (PMM): bought 61 shares at $8.30 each for $526.25 in August 2007, then sold 51 at $10.19 each in September 2007. The remaining 10 shares were compulsorily acquired in the Cleveland Cliffs takeover at $21.50 each in January 2009. The overall proceeds were $741.25 and the overall profit $215. Profit on the takeover component was $112 in 18 months.

Queensland Gas (QGC): bought 190 at $2.64 in August 2007 for $521.55, then sold 150 at $3.15 in December 2007. Sold balance of 40 shares into Britain's BG Group $5.75 cash offer in September 2008. Overall proceeds $682.55 and overall profit $161. Profit on takeover component $124.40 in 13 months.

St George Bank: bought 18 at $27.88 in June 2006 and sold 12 at $36.84 in May 2007. Swapped residual 6 shares into Westpac takeover late in 2008.

Sydney Gas (SGL): bought 1667 at 30c each for $520 in January 2008. Sold 1500 on market at 35c each for May 2008. Sold remaining 167 into AGL's 42.5c per share cash offer for $71 in January 2009. Overall profit $56 and profit on takeover component $12.50 in 21 months.

2007-08

Adelaide Bank: bought 34 at $14.90 on Aug 1, 2007, swapped into Bendigo Bank merger.

Allegiance Mining: bought 835 at 60c on August 10, 2007. Sold 600 at 75c on Sept 19, 2007 and sold remaining 235 into Zinifex takeover bid for $1.10 per share in March 2008. Profit from takeover $97.50.

Auspine: bought 80 at $6.39 on May 25, 2007; sold 80 to Gunns Ltd for $7 per share on Dec 20, 2007. Profit: $28.80.

Babcock & Brown Environment: bought 560 at $90c in May 2007 and sold 560 at 50c per share into Babcock & Brown mop up bid in February 2008. Loss: $244.

Coates Hire: bought 100 shares at $5.10 in March 2007, sold 70 at $6.40 in October 2007 then accepted the private equity takeover for the remaining 30 at $6.06 a shares in December 2007. Also received additional 64c in fully franked dividends as part of offer.

Coles Group: bought 50 at $10.08 on Nov 7, 2005, sold 30 on market at $15.91 in February 2007, then swapped remaining 20 into fast-falling Wesfarmers shares as part of takeover.

Consolidated Minerals: bought 165 at $3.08 on July 5, 2007. Sold for 165 at $3.20 per share to CSM in March 2008. Lost 20c.

Investa Property Group: Morgan Stanley mopped up the property group at $3.08 a share in mid-2007.

IWL Ltd: bought 91at $5.50 on July 30, 2007; sold 91 to CBA for $6.45 per share on Nov 26, 2007. Profit: $66.45.

Jubilee Mines: bought 75 at $6.84 on June 20, 2006; sold some on market and then sold residual 10 to Xstrata Nickel for $23 per share on Feb 7, 2008. Profit: $141.60.

Macquarie Private Capital Group: bought 580 at 86c on June 25, 2007, sold 591 at 97c to Bear Steams Private Equity Ltd in June 2008.

Multiplex Group: bought 165 at $3.10 on Oct 6, 2005; sold 165 to Brookfield Australia for $5.05 per share on August 30, 2007 Profit: $301.75. The final balance sheet in 2007 claimed net assets of $3.16 billion after considering total debt of $2.4 billion. Brookfield paid $4.23 billion for the equity.

New Privateer Holdings: bought 100 shares at $5.50 on March 23, 2007, sold 100 at $3 in February 2008. Loss: $270.

PCH Group: bought 506 at 99c on Aug 17, 2007 sold some on market and then sold residual 100 to Cape Australia for $1.40 per share on Dec 21, 2007. Profit: $21 from takeover.

Repco Corp: bought 310 at $1.62 on June 8, 2006. Sold for $1.75 to CCMP in October 2007. Profit: $20.30.

Resource Pacific: Bought 300 for $1.90 in August 2007, sold 200 for $2.48 in October 2007 and accepted cash takeover from Xstrata at $3.20 per share. Profit: $110.

Rinker Group: Bought 2000 for $18.85 in June 2007. Accepted takeover offer from Cemex at $19.50 per share. Profit: $1230.

Smorgan Steel: Bought 290 for $1.77 in June 2006. Sold 200 for $2.30 in May and accepted takeover offer from One Steel .

Symbion Health: bought 250 Mayne Group shares at $5.34 on Nov 2, 2005. Symbion Health was created in subsequent demerger. Sold 130 shares at $3.69 in January 2007 and accepted $4.10 from Primary Healthcare for the remaining 120 shares. Made a tiny profit on both transactions.

Unwired Group: bought 1,300 at 39.5c on May 10, 2006; WHAT SALE PRICE ON MARKET sold remaining 200 into Seven Network takeover at for 50c per share in December 2007. Profit: $2.

Zinifex: bought 110 at $4.88 on November 2, 2005 and sold 83 at $18.56 on December 5, 2006 swapped the remaining 27 into Oxiana's offer at the rate of 3.19 shares for 1, effective June 20, 2008.

2006-07

Brazin: bought 400 at $1.26 in September 2006 and sold to founder Brett Blundy at $1.81 per share in December 2006. Profit: $200.

Burns Phil: bought 530 at 96c on June 2, 2006. Sold for $1.10 to Graeme Hart's Rank Group in October 2006. Profit: $54.20

Excel Coal: bought 75 at $6.79 on June 14, 2006 and sold to US coal giant Peabody in October 2006 for $9.50 per share. Profit: $183.25. Final balance sheet equity (see 2005-06 annual report) was only $392 million and the bidder paid $2.04 billion for the equity.

Gasnet ltd: bought 200 at $2.53 on April 3, 2006 and sold to APA in November 2006 for $2.99 per share. Profit: $72

Pacifica Group: bought 235 at $2.15 on Mar 8, 2007. Sold to Robert Bosch Investment for $2.20 per share in December 2007. Loss: $8.25

Promina: bought 72 at $7.03 on Dec 20, 2006 and accepted Suncorp's scrip takeover bid in late 2006 of $1.80 cash per share and 0.2618 Suncorp shares for each Promina share. This delivered $129.60 in cash and 19 Suncorp shares.

Rural Press: bought 50 at $10.65 each in August 2006, swapped into Fairfax shares as part of takeover.

Rinker:

2005-06

Central Equity: bought 220 at $2.44 in October 2005 and sold into privatisation takeover at $2.55 in May 2006.

Hardman Resources: bought 320 at $1.61 on June 19, 2006 and sold 320 into Tullow Oil takeover bid priced at $2.02 a share in late 2006. Profit: $111.20

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