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Wasn’t expecting much of an increase today. It’s just one company going higher than the other company from the day before. The potentially interesting day is tomorrow when both companies can put a final bid in. If either company is really determined to takeover Kcom, they will have to put a bid in that they think will be higher than the other companies bid.
Of course if neither company puts a new bid in the figure of 110.8p will win the day.
piffff 0.8p meh
Not heard any updates of any further bids?
from my understanding, one has a very complex and hefty debt arrangement while the other does not. so if there is a penny in it I suspect they would reject a higher offer
Highly unlikely that Kcom would refuse to accept the highest bid from either of these companies. They have accepted lower bids from both of them since April.
KCOM can still refuse to accept a final bid even if one is higher than the other.
Annomander - Macquirie are allowed to bid today. As long as they put a bid in today, then both companies are allowed a final bid tomorrow. That potentially could be the fun part because neither company will know what the other is bidding. Hence why you are seeing trading today around the 115p to 116p mark. Some people obviously believe the final winning bid will be at least that. Whether it is or not - who knows.
Maybe someone is buying enough voting shares to stop the deal going through when it goes to a vote
well some more big buys gone through, seems like something is brewing
It seems strange they going for 116p when the bids are 111p with only todays to go and only rising by 0.5 or 1p
500,000 @ 116p wow! Someone knows something big is about to happen. hold onto your hats and your KCOM shares. I sold 1/3 of mine about 2 weeks ago at 112. (happy with that decision though - correct at the time). good luck lth's.
should see a decent open in the morning now bidding has started...wonder if a 3rd contender will come in this week.
Another slight rise. Hopefully another higher offer on the cards
I take the last para to mean that KCOM are not yet obliged to accept either offer and that if a third bidder appears pre 23rd August that bid can be considered. Hence the still increasing SP at opening mid price this morning at 111p. The KCOM said it had consented to the extensions in order to facilitate a potential process under the City Code on Takeovers and Mergers to determine final bids from each of Bidco and MEIF 6 Fibre. It emphasised that there was no certainty that any such process would occur.Come on Virgin, make a bid!!!!
What implications does the below have?
One of the companies bidding to acquire Hull-based broadband and telecommunications provider KCOM has been granted an extension to its offer.
In April, the Hull-based telecoms group's board recommended an offer of 97p per share from Humber Bidco, a subsidiary of Universities Superannuation Scheme Ltd (USSL), to shareholders. The £504m deal had been set to go before KCOM shareholders at a court meeting and the general meeting on 5 June.
A second offer was received in May from MEIF 6 Fibre, a wholly-owned indirect subsidiary of Macquarie European Infrastructure Fund 6 SCSp - an investment fund managed by Macquarie Infrastructure and Real Assets (Europe). The new bid represents an increase of 11 pence on the USSL offer and values the company at £563m.
Humber Bidco has now reached an agreement with KCOM to extend the shareholder meeting lapsing date to 14 August 2019 and the hearing lapsing date to 23 August 2019.
The company has also announced that it has received written confirmation from the FCA that it has determined unconditionally to approve the acquisition.
The KCOM said it had consented to the extensions in order to facilitate a potential process under the City Code on Takeovers and Mergers to determine final bids from each of Bidco and MEIF 6 Fibre. It emphasised that there was no certainty that any such process would occur.
Perhaps Virgin are showing an interest.
Says on here the high was 109.60? But odd small amounts often trade higher or lower.
Anyone know why they jumped up in price today to 111.60?
Hi Jam - I did the same, just sold my entire holding at 109.40, and agree a bit of patience has paid off. I considered selling when first bid came in, so got more than 10% more. If I'm leaving another 10% on the table, so be it. I don't want to take the risk of waiting for final outcome, as I had been feeling a tad uneasy in recent days, wondering if the first bid would be approved on JUne 5th or whether it would all unravel. I held on because of big buys by the likes of Sand Grove Capital, who have cleaned up nicely having bought over 20million I think in recent weeks. Well done to them, they helped me too. I remember how sick I felt last Nov when price plummeted, so am feeling very lucky. Good luck to all holders. There may be a few more pennies to be had yet. Overall Kcom has been a reasonable investment, can't work it out exactly as I switched accounts a few times and lost track of purchase prices, but just glad not to have lost my shirt - which I have done in the past on one major investment that turned to dust. Ghastly lesson. So cheerio everyone, and again, good luck :)
If you got in pre 2004, you've done well, doubled your money plus the divi's and until recently, it was a fairly good income share.
Has to be minimum plus 10% = £1.19
I'm out this morning at 109.2p - so patience has paid off here. Over the years I'm probably about even, so not the greatest investment I've made. Good luck if you are staying but it's only cost me £7.50 to sell down so not going to hang around.
How do our shares get bought, do we just sit tight and wait for the process to go through, or do we go looking to sell personally?
https://uk.finance.yahoo.com/news/kcom-opts-sale-macquarie-unit-063928022.html(Reuters) - Telecom network and cloud-based service provider KCOM Plc has ditched plans for a sale to British pension fund-backed Humber Bidco in favour of a higher offer backed by investment firm Macquarie's European Infrastructure Fund, KCOM said on Monday.The offer from Macquarie-backed MEIF 6 Fibre Limited amounts to 108 pence per share for KCOM, 11 pence higher than that submitted by Humber Bidco, owned by British pension fund Universities Superannuation Scheme Ltd (USSL), KCOM said.MEIF's offer values the company at 563 million pounds and represents a 49% premium to KCOM's closing price on April 23, the day before Humber Bidco announced its offer for the firm.Macquarie funds have been investors in critical telecom infrastructure since the early 2000s, including investments in European players Arqiva, Poland-based INEA and Denmark's TDC.In April, USSL said Humber Bidco would buy KCOM for 504 million pounds, with KCOM's largest investor and Europe-focused activist Teleios Capital backing the offer.KCOM issued a warning on profit last year after a slew of management changes including the departure of its chief executive officer and finance chief.Former BT Plc executive Graham Sutherland was appointed as chief executive in October and he announced a review of KCOM's business strategy a month later.
£1.08 thats a bit better , anymore ?