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Not for TA people but an idea to share.
Affinity appears very keen to take First Eng private. However, Affinity currently have only about 70%+ of the shares and does not appear likely to be able to reach the 90% threshold to compulsory acquire the rest and take First Eng private.
When their offer ends, they can either stop supporting the share or continue buying until they reach 90% and have the share enter limbo (like Wearnes saga).
The offer is unconditional so no worry of scrips tendered not being accepted. So all sellers below $1 would have been taken out by the end of this month.
There maybe some push downwards but it would be artificial.
Affinity's first buy is around $1.20 for first 30% with the remaining 40%+ at $1.00.
PE is an undemanding single digit and cost of raw materials is dropping along with oil prices.
Overall risk to reward looks good especially in a market with possible sharp downside risks.
Heavily vested.
P.S.: Please do rate this post if you would like me to post more such ideas in the future. Not too sure if the audience is there amongst the non-TA people.
Affinity appears very keen to take First Eng private. However, Affinity currently have only about 70%+ of the shares and does not appear likely to be able to reach the 90% threshold to compulsory acquire the rest and take First Eng private.
When their offer ends, they can either stop supporting the share or continue buying until they reach 90% and have the share enter limbo (like Wearnes saga).
The offer is unconditional so no worry of scrips tendered not being accepted. So all sellers below $1 would have been taken out by the end of this month.
There maybe some push downwards but it would be artificial.
Affinity's first buy is around $1.20 for first 30% with the remaining 40%+ at $1.00.
PE is an undemanding single digit and cost of raw materials is dropping along with oil prices.
Overall risk to reward looks good especially in a market with possible sharp downside risks.
Heavily vested.
P.S.: Please do rate this post if you would like me to post more such ideas in the future. Not too sure if the audience is there amongst the non-TA people.
Affinity Precision is making a voluntary conditional cash offer at $1.00 per share.
Inconsistent volume counter... TA people should avoid this
Anyone knows why there is a trading halt for this counter?