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Interesting comment in the CMA report. Point 43. "Accordingly the CMA considers that if the Transaction were not to go ahead [REDACTED], the most likely scenario would be one in which Sepura remained in the market." So T/O would be good for 20p but Sepura seems to be more of going concern / slightly more positive position? Regards, Harry
Exciting.
Jumped back on this ship, having sold previously at 19.25 (brought in September for 11.6). finally got some confidence back that this will happen at 20p.
Very Nice! There are some very large trades going through that look to be disguised as sells
Seems the Cambridge BW is very upbeat. I'm not sure I'd quite go along with the "minor hurdle" interpretation, but nice to see such a positive article now I'm again a shareholder: "While the German authorities, which originally said the acquisition fell below their radar, has now decided to take another look at the deal Sepura can negotiate its way round that minor hurdle once the UK clearance is obtained." http://www.businessweekly.co.uk/news/hi-tech/government-set-clear-hytera%E2%80%99s-takeover-sepura
Fascinating read for anyone interested. The CMA report in particular gives some insights into what's happening in the UK market, despite some of the most potentially interesting bits being [REDACTED]. The fact that Hytera is apparently prepared to offer these undertakings suggests to me that it does still want to complete the merger, which removes (for me) one major doubt. Also, I don't see why they wouldn't offer something similar to the Germans to try to avoid the public interest/national security review there. So I've bought some back just now. The major risk now in my mind is German process (can they negotiate undertakings in a timely manner so that Sepura's lenders are prepared to allow sufficient time for the deal to complete). https://www.gov.uk/government/consultations/proposed-acquisition-of-sepura-plc-by-hytera-communications-corporation-ltd-draft-undertakings
I brought in at 12.65 , this will be at 20 as soon as approval confirmed
Is there time for any additional bidders to appear?
With today's rns it's pretty much done deal and there's still 70% to be made here
It makes sense
My take is government will want this to be taken over rather then face uncertainty so I think it's a done deal
at 12.50 its a near 50% gain on where SP could possibly be today had it not been for the RNS. it could well be back down if the public consultation goes the wrong way. having said that, i'm kicking myself for not buying some at 9.6p yesterday!
Morning all - indeed good news and a surprise after the German announcement made it easy for UK to sidestep the issue and prevaricate. I sold yesterday at 10.50 as the signs began to look decidedly dodgy but have bought back in today at 12.50 as I think the pendulum has once again shifted from 'Unlikely' to 'Likely' to go the distance. If, and it's a big IF, you believe the same, then the uplift is still 50/60% from here to 20p and so definitely worth the risk imho. GLA
Difficult to put a negative spin on this one I think - it's unambiguously good news if a detailed CMA review is not needed. Sepura will have to hope that nothing material comes out of the public consultation of course. It still leaves the acquisition dependent on keeping the lenders happy while the German approvals are sorted out, as far as I can see, unless Sepura/Hytera can pull off something there as well by 15th May.
Finally some good news :-)
wait tho, we need 1GW to put a negative spin on this RNS .. lolz :) :)
Further update on regulatory reviews RNS Number : 5316E Sepura PLC 09 May 2017 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION. THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION. For immediate release 9 May 2017 RECOMMENDED CASH OFFER for SEPURA PLC by Project Shortway Limited, a wholly-owned subsidiary of HYTERA COMMUNICATIONS CORPORATION LIMITED to be effected by way of a scheme of arrangement under Part 26 of the Companies Act 2006 Further update on regulatory reviews Sepura plc ("Sepura") announces a further update in respect of regulatory approvals which are currently being sought by Hytera Communications Corporation Limited ("Hytera") and Sepura in connection with the Acquisition announced on 16 December 2016 and described in the scheme document published by Sepura on 16 January 2017 (the "Scheme Document"). The Secretary of State for Business, Energy and Industrial Strategy has announced that, subject to the outcome of a period of public consultation which closes at 5.00 p.m. on Wednesday 10 May 2017, he is proposing to accept statutory undertakings set out by the parties involved in the Acquisition. This acceptance of the statutory undertakings would avoid the need to make a reference to the Competition and Markets Authority for a more detailed investigation into the Acquisition.
Further update on regulatory reviews RNS Number : 5316E Sepura PLC 09 May 2017 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION. THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION. For immediate release 9 May 2017 RECOMMENDED CASH OFFER for SEPURA PLC by Project Shortway Limited, a wholly-owned subsidiary of HYTERA COMMUNICATIONS CORPORATION LIMITED to be effected by way of a scheme of arrangement under Part 26 of the Companies Act 2006 Further update on regulatory reviews Sepura plc ("Sepura") announces a further update in respect of regulatory approvals which are currently being sought by Hytera Communications Corporation Limited ("Hytera") and Sepura in connection with the Acquisition announced on 16 December 2016 and described in the scheme document published by Sepura on 16 January 2017 (the "Scheme Document"). The Secretary of State for Business, Energy and Industrial Strategy has announced that, subject to the outcome of a period of public consultation which closes at 5.00 p.m. on Wednesday 10 May 2017, he is proposing to accept statutory undertakings set out by the parties involved in the Acquisition. This acceptance of the statutory undertakings would avoid the need to make a reference to the Competition and Markets Authority for a more detailed investigation into the Acquisition.
In line with advice from the home office, the secretary of state is proposing to accept the draft undertakings offered by Hytera and Sepura instead of making a reference to the CMA for a more detailed investigation...
CMA report to the Secretary of State 8 May 2017: The Department for Business, Energy & Industrial Strategy has published the CMA’s report on the anticipated acquisition by Hytera Communications Corporation Limited of Sepura plc. CMA report and BEIS consultation on draft undertakings Invitation to comment The Secretary of State for Business, Energy & Industrial Strategy issued a public interest intervention notice (PIIN) on the public interest ground of national security in accordance with sections 42(2) and 58(1) of the Enterprise Act 2002 (the Act) in relation to the anticipated acquisition by Hytera Communications Corporation Limited of Sepura plc. This means that the Secretary of State will make the final decision on whether this transaction operates, or may be expected to operate, against the public interest and should be referred to a phase 2 assessment, taking into account both competition and public interest issues. The Competition and Markets Authority (CMA) was required to submit a report to the Secretary of State in accordance with section 44 of the Enterprise Act 2002 by 4 May 2017. The report includes the CMA’s assessment of whether it believes that it is, or may be, the case that this transaction, if carried into effect, would result in the creation of a relevant merger situation under the merger provisions of the Act and, if so, whether the creation of that situation may be expected to result in a substantial lessening of competition within any market(s) in the United Kingdom for goods or services. It also includes a summary of any representations the CMA received which relate to the public interest consideration specified in the PIIN, national security, and which are or may be relevant to the Secretary of State’s decision. To assist with this assessment, the CMA invited comments, in particular, on the competition impact (if any) of the transaction from any interested party. Deadline for comments: Now closed
Heh.. yeah 2 years ago sepura paid 94.5mill alone just for telltronic.. more than double their current Mcap now
Directors have utterly wrecked this company. Taken it from virtually debt free to laden in it and crippled as a going concern , all in the space of less than two years.
is the drop in Mcap since BMWI announced review. Gla.
Don't blame you fella this whole situation is depressing. I've got my finger hovering over the sell button too. best of luck!