Takeovers we've accepted since 2005


January 6, 2014

Here is an incomplete list of takeover bids we've accepted or been forced to accept since we started building the world's biggest small share portfolio in 2005. Go here for the full portfolio and trading histories sliced and diced in a variety of interesting ways. We'll add the recent takeover details some time soonish. Maybe.

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.

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

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