The Oz Minerals (OZL) is proceeding precisely as expected. Generally, with a takeover, there is always at least one party, be it a hedge fund, fund manager, or substantial shareholder in the media, talking up that the price being offered should be increased. But not a peep. It has all been very uneventful.
The uneventful nature of this takeover is clearly on display in the share price, which has traded consistently around the $28.00 level despite the recent volatility in markets.
As per the timetable, when the takeover is finalised on the 2nd of May, the profit breakdown based on our current holding of 2,000 shares will be:
Dividend: $1.75 x 2,000 = $3,500.00
Franking Credits: $0.75 x 2,000 = $1,500.00
Capital Loss: $1.4 x 2,000 = $2,800.00
Total profit of $2,200 or a 3.94% return on funds invested.
So keep holding only another month, and the position will be closed
