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Golden West Financial (GDW) Message Board

  • bing_crosby_whitexmas bing_crosby_whitexmas Feb 15, 2004 5:03 PM Flag

    CITI BUYOUT $120-$130?

    Could be a "golden" opportunity for citi to buy it out with a nice premium to the gdw holders. lets face it the people who are running the company are getting old and probably want to cash out and retire. i can see a deal going thru with a 20-30% premium without any issues.

    would be a great deal for citi and a huge premium for the gdw holders like me who would gladly vote for the deal.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • First, "Bing", DON'T SHOUT, it only exposes your ingnorance

      Second, your predictions are just as "dead" as your namesake

      Third, GDW will be around for a long, long time. They are one of the healthiest financials around and are only getting "heathier", while their competitors, WAMU, etc are losing ground. GDW wrote 10B plus in new loans last quarter and that was in the lowest fixed rate environment, while their loans were all, for the most part, adjustables. They are in the perfect situation to handle any rate problems, while all those fixed rate institutions will pay the price, as they did in the S&L problems years ago. How are the fixed rate institution going to make money when they have to pay 6% for the money and are only returning 4%

      As for the Sandlers, be assured that they do not have your mentality, i.e. take the money and run. They have a great company and are not the "retiring" type. They have management in place that if they do retire, or the Mack Truck situtation occurs, things will go along in the same manner.

      Finally, "Bing", why don't you sell all your GDW holdings, buy Citi and make a killing when GDW is taken over, NOT. Let the rest of us bask in the stock appreciation. Only prediction here is the probably split, 3:1, perhaps sometime this year, once the stock hits the 110-115 ranges and stays there. This is based on past activities.

      Have a good day "Bing"

      • 1 Reply to denverone1
      • bing_crosby_whitexmas bing_crosby_whitexmas Feb 20, 2004 10:43 PM Flag

        You cant be serious with your post? if you are my god are you in serious trouble.

        when a mortgage company makes a loan they already cross that loan collateral with a fixed rate they borrowed at + the spread they put in their pocket.

        if rates go up it wont hurt a fixed rate portfolio. all the loans in that portfolio are already matched up with borrowed money at lower rates than each loan on the books. rising rates is actually a good thing as they cant re-fi and that means the life of the loan is usually longer than it was originally forecasted to be, thus increasing income on the portfolio beyond what was anticipated to be the life of the loan.

        gdw could easily be bought out for $130-$150. if citi comes knocking then dont be surprised to see the deal happen. on the other hand wfc or wachovia may come knocking as they are worried about being aquired and need to pull off a aquisition to help make sure they dont get swallowed by citi or boa.

    • CITI? Shy would CITI even be able to go after this company? They have enough legal issues to keep them from being able to go after this company for a long, long time.

      Besides, the company has a strong management team which is ready to assume the leadership role when the Sandlers do retire.

      That's assuming they do want to retire. They have shown no interest in doing so as of yet. They also have a "post Sandler" plan in place, either by long term transition or a catastrophic, immediate transition. CITI doesn't figure into the mix at this time.

    • Why would I want Citibank to buy GDW?

      I have confidence in GDW management. I do not have confidence in Citibank management.

      GDW right now is a no-brainer. Just buy and hold. Leave well enough alone.

      Peter Lynch once said it was a shame that Pepsi bought Taco Bell. I'd feel the same about anyone buying GDW.

      • 1 Reply to markicita
      • I would be very pleased to let them have my shares for $130 in the next 2 mths. i would say if the deal doesnt come within the next 2 mths then they will end up having to pay a lot more like $150 1 year from now.

        there are so many facts that surround this company which tell me it is primed for a sell out. mortgage business is slowing + the old people running the show are ready to call it a day and retire and enjoy some of the billions they have in the bank. i doubt they want to leave the company and somebody else in charge to potentially lose a lot of their money. if someone offers $130 they would be able to cash out and get the day to day headaches off their back and kick back and enjoy some deserved retirement.

        i am long on wfc, gdw, key. they are prime for being aquired in the next year. i wont be 1 bit surprised so see all 3 of them aquired by citi, boa, or wachovia.

 

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