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Mr.Fibbles They are all out of the woodwork tonight, I can only admire your patience and civility towards them.
Pianista, apologies that would be bond holding I presume. Still its some rise from previous to 12%.
Mr F - Where’s the RNS that took Albert from 12.079% to 17.99% then? I bet there isn’t one.
And at this rate, I expect another RNS from Albert Bridge tomorrow. The seller must be at 29p. This could be a nice floor for an offer.
Pianista LOL, you're blind
Pianista - "It's true that Albert Bridge has upped its stake to 17.99% - but only from 17.97%."
12.079% on 04 Aug 2020 (day before)
https://www.lse.co.uk/rns/AA./holdings-in-company-bdfbdqutqj2l5s6.html
17.99% on 5 August 2020 (yesterday)
https://www.lse.co.uk/rns/AA./form-83-aa-plc-3hb8c91jap7fgxb.html
It's true that Albert Bridge has upped its stake to 17.99% - but only from 17.97%.
They'd better get a move on, because at that rate, it'll take them 2 years to get to 30%!
Hello everyone - I have been holding these for only a few months and very new to this. Been reading this BB for some time and initially came in at 18p and averaged up to 25p in June. Definitely feel positive about this and didn’t concern me when it went below my ave. (probably because I didn’t understand the debt burden then - thankfully :) ). I understand there is a cut off date for offers by 1st Sept and I wondered if the fact AA put out the RNS without the approval of the potential offerors means anything strategy wise. Sorry if this is a stupid question.
To right.
The wife is off for a week on holidays next week and I thought I could chill out with you guys and my dogs and drink beer . But no we have 15 ton you heard it 15 ton of natural stone being delivered I am building a life sized replica of a 10ft section of Hadrians wall next week so no Posting ****e for me.
According to the RNS, three parties "have approached the Company regarding possible cash offers", not the other way round. Information gleaned during the refinancing discussions may well have prompted one of the PEs to propose a takeover. However, I don't think many people believe that the AA didn't drop any hints to the other two PEs that it was open to offers.
I have to disagree though on the point of the starting bid offers.
The first offer in one of the companies I worked for once the data room opened was £6 million we sold a day before the deadline to EON for £10 million it was a company called Economy Power.
Correct data room is set up for six weeks, they have already had a chance to review the figures.
Basically make an offer or do one.
With a potential 4th interested party with lunchtime RNS today of holdings upped to 17.99% for Albert Bridge Capital LLP.
RAC just put out email 50% off membership I guess doing their bit to effect AA SP
I thought the same, its no coincidence 3 parties all interested .. i think when they looked at debt re structure a potential sale was in the mix...
There we are, thnks LUFC, they'll all have access to the data room.
I'm not up on this but doesn't the existence of the 3 interested parties suggest that AA may have solicited interest by preparing a document presenting at least the financials & perhaps forecasts with a selection of supporting information for an advisor who has then interfaced with the market of possible interests.
Don't they then come to a conditional proposal to the BoD before the BoD decides to proceed or not which leads to a Heads of Terms agreement of how the sale will proceed. i.e. at that point the preferred bidder may have required access to conduct, or have its advisors conduct, "due diligence" enquiry into the information they have made their provisional offer on before conclusion of the process to proceed or proceed with amendment of price for changed circumstance or information. They may even agree in the heads agreement a mechanism for material adjustments (I don't know) that might be a difference in picking the bid to go with along with how they fit.
On due diligence, I'd guess the bigger the beast the less granular the squabble.
They will be viewing all management accounts and a data room would have been set up.. there will usually be a period in which they have to confirm offer. In my experience the starting bid very rarely increases and they will chip at the price..
We all keep talking about an offer etc, but surely any party must want to see the AA. books before anyone make any offer and that hasn't happened yet, or has it ?
The BODS's only telling us part of what's going on.
Maybe Tuesday rns will have more info.