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extrader - great analogy. Just hope it's not the PI's who are getting screwed.
Hi pianista,
..""Strong interest" is what you show BEFORE you get down to the nitty-gritty. We've moved on from that stage, so dropping the words "strong interest" is not significant at all.
The initial strong interest has now been converted into “commercial discussions”, ie discussions about price..."
At the risk of lowering the tone , I believe that's pretty much how conversations with ladies of easy virtue go....
Allegedly .
ATB
Agreed, as they are still at the table they must be haggling on price which should reflect in a decision relatively soon as there would be no need for further deliberation. I see an offer in the region of 38p...
Do we think the AA are also working on a plan B rather than just lowing time to tick by on the presumption of a deal??
15p??
Why do people make such absurd predictions based on very little change? Is it for attention? That’s a 40 odd percent drop.
Ive not seen Jack and Rose float past yet, as along as talks are still in progress and its sounds like they are haggling over the price we could be in with a deal just lower your expectations no more than mid 40’s IMO. if it’s going to go ahead (interim results confirm AA needs this or face huge debt management / restructuring costs) but like I say I’ve not I’ve not seen Jack or Rose this morning...
"Strong interest" is what you show BEFORE you get down to the nitty-gritty. We've moved on from that stage, so dropping the words "strong interest" is not significant at all.
The initial strong interest has now been converted into “commercial discussions”, ie discussions about price.
There's no need to repeat the word "positive" from a previous RNS - it is obviously positive, and stylistically you’d expect them to avoid using exactly the same words as before.
Note that the previous announcement had the wording "strong interest", which, significantly, has now gone.......
CEO / BOD are not exactly adding shareholder value at the moment!
'Just down to price' - really. You may have noticed that the tone of the statement on RNS was bland to say the least. You may also remember previously when the statement was upbeat and more positive. This doea not suggest that negotiations are progressing well or badly, but the absence of any tangible positive info makes me thing that the discussions/negotiations will cease and no bid will materialise. Only my opinion.
They're in "commercial discussions", ie it's now just down to price, this seems to be saying.
Thats TUI Not AA ??
Surly they must be crossing the T’s and and dotting the i’s, news can come anytime now, well hopefully.
Crooked market...the PI's are always the last ones to know. 15p today?
With shorts increased yesterday the city knew this was going to be extended. Hang onto your hats as SP could take some punishment unfortunately.
27 October 2020
AA plc ("AA" or the "Company")
Extension of deadline under Rule 2.6(c) of the Code
On 24 September 2020, AA announced that it had consented to a request from TowerBrook Capital Partners (U.K.) LLP and Warburg Pincus International LLC (together the "Consortium") to explore the possibility of a consortium offer for the entire issued and to be issued share capital of the Company.
In accordance with Rule 2.6(a) of the Code, the Consortium must, by no later than 5.00 p.m. (London time) on 27 October 2020, either announce a firm intention to make an offer in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies.
Commercial discussions and due diligence are progressing with the Consortium. As a consequence, and in accordance with Rule 2.6(c) of the Code, the Board of AA has requested that the Panel extend the deadline referred to above. Accordingly, an extension has been granted by the Panel and the Consortium must, by no later than 5.00 p.m. (London time) on 24 November 2020, either announce a firm intention to make an offer in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline will only be extended further with the consent of the Panel, in accordance with Rule 2.6(c) of the Code.
There can be no certainty that any offer will be made for the Company, nor as to the terms on which any offer might be made. A further announcement will be made as appropriate.
The person responsible for arranging the release of this announcement on behalf of AA is Nadia Hoosen, Chief Legal Officer and Company Secretary.