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That's the key issue isn't it? What would be accepted, bearing in mind that most shares are tightly held by just 3 players.
As I've said before, I would be amazed if there haven't been several undisclosed offers, in recent times. Long before these sorts of articles began circulating.
Thanks for posting Paulleydee.
It's an obvious takeover target however, who knows what kind of offers would be accepted by the board.
IMO it has been vulnerable to a takeover for a long time - certainly as we all know, they rejected a bid at multiples of the SP today last year was it?
So not sure if they are going to accept less than that number if it comes now.
Maybe they would at least show some respect to shareholders this time, and not keep an offer/offers quiet until a long time after the fact.
Daily Mail, behind a paywall but I’ve pasted the section on ASOS below.
https://www.dailymail.co.uk/money/mailplus/article-13390791/cash-stock-market-feeding-frenzy-ten-companies-ripe-takeover-bid-investing-yield-returns.html
It is 2nd in their list of top ten likely to be facing bids.
ASOS. Current value £426m
Popular among Gen Z and millenials, ASOS has fallen on tough times. With shares down 95 per cent off their peak, Garry White, chief investment advisor at Charles Stanley states “ASOS is now vulnerable to a bid’
Hey guys. What are your expectations of FCF for 2024? I mean Jose tells about 6% EBITDA margin and going from here I thought about a 3% FCF to Sales ratio, looking into the past. That would mean 100 million free cash to start reducing the big pile of debt, almost 700 million. What is your execation?
Glad Barker seems to be having the same experience as the rest of us ...buying what looks like a pretty good price, followed almost immediately by a drop in SP.
He'll probably turn up here soon, complaining about a rigged LSE, useless CEO and good for nothing brokers...
Agreed @Knowbodyyouknow.
It would be good to short track the SP progress, if not then slow and steady it is ;)
Desperado
Https://news.sky.com/story/tycoon-ashley-closes-in-on-deal-for-struggling-ted-baker-13131634
Be good if you could take us out too, Mike. £15 a share ought to do it.
Thanks in advance for taking this on.
KBYK
Agree, I am also a shareholder in Heineken long term. Good to read today they will start investing seriously in renovation of UK pubs again as they see a positive impact of improved UK consumer confidence as cost of living crisis is becoming a less bigger topic due to reduced CPI outlook. They expect more visits to the pub again. People can not stay depressed forever, especially the 20 something want to go out and look great to have fun and find romance. Please also add the recent visit from Xi to the EU, it was made clear to him that we will protect our economies against dumping more and more just like the US. Both trends can be a benefit for fashion companies with their HQ in the west.
I agree. Re boohoo, it’s on track to deliver annualised cost savings of 125 million pounds in 2024/25 and it also forecast positive free cash flow in the year.
CEO John Lyttle said he had "strong confidence in our medium-term outlook".
Last month, ASOS reported a first-half loss but said it expected to report positive core earnings for its full 2023/24 year. On Tuesday online fashion Zalando said it had returned to growth in its first quarter.
Things are looking up.
Hence no crash in SP today.
This will gradually rise now week to week.
The tides turning slowly, nothing too shocking over at Boo today.Both Boo and Asos SP's up slightly.
The convertibles are nothing new, so no surprises there either.The bod have made it known they are addressing that issue.
This is going to turn soon, its pretty obvious.
Oil is way down, and inflation I feel will gap down nicely on the next announcement.
Hate to say I told you so
Just need Investors Cronical too say the same then it’s a sure buy 😁
Poorest research house out there.
Dismiss anything they say.
Surprisingly stagnant movement here today
Agree stronger play over BOO
That's how I read it Knowbody.. Boohoo investing more in growth but asos appear further along in going back to 'profitable growth'. Well, at least that's what the BOD are telling us lol. ASOS appear more bullish in terms of future guidance starting from this summer. hmm interesting to see what happens.
Well, that didn't work out quite as hoped.
Sounds (to me) like Boo need some cash.
I realise that some here are likely to be holders there too, but I would say ASC looks like the stronger company at the moment. At least, further on in its pivot towards profit over growth at all cost.
Looks like quite a short buy back going on today, prior to the update tomorrow. May be coincidence or, perhaps it will be unexpectedly strong and we'll benefit here from some read across.
A good turn around fellow investors.
The news of the new buys will circulate and hopefully quell the negative outlook somewhat.
If we can breach the resistance then maybe we will see 400 soon.
Keep the faith.
https://ibb.co/FYDVjyR
Yep..next one 380 ...bring it on ., maybe Frasers with the next director buy !!!! its not an if but when , when the battle starts , i think Camelot has sent a message to Frasers with their 2
huge buys.....and I suspect more to come......
Touching that resistance now. Hopefully we can close above it today
Camelot gonna square up to Frasers for the showdown !! lol.....
*Very nice indeed :) a few more off the table lol.*
Free float is only about 25%, I think - and given that so many are underwater, I suspect it's mostly in sticky hands.
Almost 65% of the company in the hands of 3 holders.