Opinions Michael Smedley
Viterra IncVT.TOBUYFeb 21, 2008
Thinks this gets dragged slowly along with other agricultural items. Brilliantly run. A good one to hold. Won't give you the super spikes that you are getting with other areas of agriculture.
Michael SmedleyOwned
$13.10
Stock price when the opinion was issued
agriculture
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COMMENT
6.406% bonds due Feb 16/21. What impact will a takeover by Glencore have on these? Feels that at the end of the day this will be negative for bondholders and positive for stockholders. Glencore is not guaranteeing Viterra’s debt. Also, they are planning on selling about $2.6 billion of Viterra’s assets, which is a negative for the bonds.
agriculture
N/A
About to be taken over by a conglomerate. Have had a kind of struggled relationship wit the market. It ran up and ran back down. They are very large. But the issue is how well managed are they. The parts are worth more than they are worth. The market is skeptical on all sorts of levels. A lot of the stock has moved into the hands of the owners. They mute the trading and wait for the deal. The best companies in Agri are private. Still holds some. He is overweight the energy sector, but not gas.
agriculture
HOLD
People are looking at their numbers and it is almost a foregone conclusion that someone will get them. There are lots of people that could find parts of CY very attractive.
David CockfieldOwned
agriculture
