Grindrod $GRIN - Acquisition Target at a very very cheap price.
GRIN
Taylor Maritime Investments (TMI) closed its offer to acquire all of the issued ordinary shares in Grindrod Shipping for 26 back in October 22.
GRIN
has since sold off sharply following concerns of imminent de-listing by TMI. However,
TMI does not meet the compulsory acquisition threshold of at least 90% for delisting of GRIN from the JSE.
I wouldn't be surprised if
GRIN
is the target of future buyouts from larger dry bulk shipping companies which recognise it's strong fundamentals and growth prospects. My DCF model of
GRIN
supports my opinion that current stock price April 2023 is very very cheap. An opportunity to make some serious gains for the patient investor.