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John, it is probably a good thing that a Honda civic is better than an austin allegro but I get your point - it is where the engineering is completed that is of major importance ref the long term.
BTW share price climbing steadily today.
The big question is, will other parties come into the fray and will there be a counter bid.
This 'offer' is pretty derisory.
True, but its a bit like the car industry. Somehow Nissan, Toyota and Honda (at least at present!) aren't the same as a home grown volume car industry. Maybe I'm just old fashioned!
John, ref the t/o - if the new owners are just investors the current workers are likely to stay in UK. You can then put your capital into another UK venture and create even more jobs , perhaps!
Incidentally the shares aren't xd until (according to Barclays) 18/04. The RNS issued last night said that the proposed approach was 31st Jan, and is quite explicit that no further dividends after the proposal date would be paid. the Final results weren't even released until March, so I wouldn't bank on the divi being paid. Just my (humble) opinion.
As I explained in my previous post I do genuinely have mixed feelings about losing this leading company, but on the other hand from a personal point of view how many years will I have to wait to even approach £5.34 without, let alone £6.44? So sadly I guess I would like a way out.
I think they could pull the divi now and clearly will factor that into any price they might accept.
Any views on the bit where it states "The proposal assumed no further dividends would be paid by Inmarsat following the date of the proposal". Can they pull it now, ex-div on the 18/4. I've got to go and be a Sparky now so will have a look later.
Morning all, mixed feelings here.
Think I suckered myself into this one, my average (ignoring the caost of the scrips) is £6.44. While I don't want to take a loss (especially in an ISA where of course the losses are unusable), at the same time I don't want another EchoStar fiasco which could see the SP back sub £4. Luckily I did trade a bit in my non ISA account and made a few quid but not enough to put me at overall profit at this price!
I feel a bit guilty, torn between my greed as an investor and wanting a leading tech company to remain in this country.I expect I could pacify the latter concern if a higher offer resulted in a profit!
Good luck all
Former up 6% latter down 2%. Kinda points that Intelsat not in running ...
The rns was last night.Nevertheless the price looks too low to me given the figure being discussed and indeed potential for competing offers. Expecting a furrher 5% today.
Sorry missed that one, should be more alert
I have added in the expectation that the deal will materialise and/or othrs make an offer - time will tell.
Inmarsat in $3.3bn takeover talks with private equity-led group
https://www.ft.com/content/adcc7cde-4a77-11e9-8b7f-d49067e0f50d
whats up here
I was wondering last night, if the board only rejected EchoStar as it was not all cash offer, not sure if they could afford a total buyout. Told to go away and come back with cash. So, maybe they "EchoStar" could be behind the scene backing the deal.
I don’t see they will pull the dividend just declared. The other side may wish to chip the price but really it is small relative to the deal so expect them to leave it. Normally the dividend bit is to cover any future special dividends being declared or paid.
I think this is all about future cash flows and competitive threats. i wish I understood both better- any views?
Are they pulling the divi anyway??
A very vague statement!!’
It will be interesting to see if this trades above the offer, indicating either an improvement to get management backing or EchoStar coming back in. It should be above 5.43 in my view. Surely even if no offer they would get an improvement for a recommended offer. Also interesting though that ISAT haven’t come out to say it materially under values the business.
basscadet, similar here with a b/e @ 713. REJECT!
I need closer to £7 to be breaking even on this one. Although, anything significantly greater than where we are now wouldn't be awful considering how long I've been underwater.
I do worry with this one that these guys are asset strippers and already have a back room deal with EchoStar to sell on the L-Band spectrum and then cash in on the rest of the business. So, reject it please the board.
From 6 July 18 "Earlier on Friday, EchoStar said that it had made a second, improved 3.2 billion pound ($4.2 billion) proposal to buy Inmarsat, which was rebuffed by the London-based company as being too low". Share price at the time of the initial offer (8 June 18) was circa 417 so Echostar final offer valued ISAT at approx 35% premium. That offer was rejected. In the meantime ISAT biz dynamics have improved. Based on last nights closing 35% would be around 590p Come on EchoStar £7.50
Basscadet, good job I stay in. This may make up for Flybe losses. I’m surprised the direction from where this potential offer has come from. Could it be a poker stick, saying “hey we only value the company at $3.3bn”. Anyway in long now as I did with Laird. Just sit and wait.
Apologies, it's about 22p more.
EchoStar's bid at the time of offering was worth £5.32 a share. So this is 2p more than that recently rejected one. I hope the board treat it the same way. Then let's see how much EchoStar really want that spectrum.