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Story in the Times that a large shareholder is accusing some NEDs as not independent give £2m of options that they get to cash in early. Could be the start of a shareholders revolt, although that could see the price falling unless another bidder emerges I'm still reducing my holding, and very happy to do so above £5. It's 100% return since January for me. Nice.
I've sold just over half the stock, was sitting on an over 100+% gain, would be rude not to this close to xmas!
What's left in is a free investment now, if another bid takes it a bit higher great, if the original bid goes through and I end up with a small take two holding, great.
Well... i've sold out. Been in since £3. Management have said they see a very difficult period ahead. They are behind in GAAS and mobile, and every time they branch out of cars they suck.
Fast and furious franchise isn't great either.
This is also a principle thing for me now, management have shown their true hand and what they care about ($$$). So even if the takeover fails I wouldn't want them leading the company.
The only thing on price however, is that the offer was made in the belly of the covid crisis, and was over a 40% premium to that price. So it was fair value when made and accepted.
Comments on the back of today's results on Stockopedia reconfirms the shareholders should be rejecting the low ball offer.
very strong results with some metrics like EPS doubling...........makes the merger / takeover propesed seem more stupid than ever given the price being offered......
*490, not 495.
I started to reduce my £30k position at 485p today. Just £4k as a first sell down, but will probably do more next week if it holds 495p
Wrong Board? chump.
DERAMPERS LOOK TO BE GETTING SO SCARED
MORE FAKE NEWS ON TWITTER REGARDING SYME
WAS POSTED ON OTHER SHAREBOARD
EMAIL WAS SENT BY POSTER AND CONFIRMED FAKE POST
A. Profit is a profit. Nothing wrong with that. Build from there.
We all want to make 10xplus but unless you “know” or are lucky doubling is a good start
Thanks both. I'm in no rush. I'm not going to get rich but at least I more than doubled my investment.
I'll miss this one as I had high hopes for it. Oh well.
Onwards and upwards.
Expected to close during Q1 2021. Whilst we might hope that shareholders vote it down, that's unlikely given management support. Best chance remains someone else coming out of the woodwork with a higher offer.
I don’t know, which isn’t much use as an answer I know. But there will be notice given that it’s happening and there will be a date given when it all happen ( probably after a share holders vote) so plenty of time.
You can sell right up to that date but obviously if it’s “ going thru” you won’t get more than the guaranteed offer. Will be less bc it’s not all cash.
Try H-L , if a little expensive or ii. They tend to let you buy pretty much anything.
If it’s small £. any inc/ Dec will also be small.. I’m in the same boat, a few £K. But a profit is a profit
Like someone else on here I was in for the F1 and war hammer deals!
It could easily get voted down.
Mr chairman et all might be thinking that’s it we’ve done it, but there’s a lot more than them invested here
I have a small investment in this company. My broker doesn't hold US stocks.
So I'm thinking about cashing in before the sale is complete. I want to see if there is another offer submitted before I do. What sort of timescale do these sales take to complete?
TIA
Some thoughts about the valuation for the Codemasters deal - it doesn't seem totally unreasonable, but other British video game peers are more richly valued. The incentive to management and staff is likely to act as considerable motivation to get a deal through, with almost £6m on offer...
https://riverotter.co.uk/2020/11/13/gta-publisher-take-two-gets-codemasters-for-a-steal/
PS I think the Daily Mail are quoting the directors current shareholding, not their incentive payments.
PSS Threadneedle are playing this acquisition deal with positions on both sides of the Atlantic.
yes shareholder vote needed
The offer is far to low, of course the board advise to accept as they stand to receive millions.
Are the shareholders required to vote on this ? If so we can vote it down as we have little to gain if it goes through
So apparently the large investors are not happy with the takeover of CDM at this price anyway
https://www.dailymail.co.uk/money/markets/article-8939649/Codemasters-faces-investor-backlash-726m-deal.html
Lowest price in 3 months just happened to be 22 September when TT Made their offer!! How convenient it had dropped the previous few weeks.
Wonder how and why ..stinks
Assuming no one else comes in, and why would they, after all I believe it’s been recommended, would t you be better just selling the shares at £3.85 ( I know it’s a little lower now, but it was within spitting distance the other day)
What’s in it for holding on?
The deal is not a fixed dollar amount in TT shares, it is instead a fixed ratio of TT shares, ie .02834 TT shares for each Codemaster share.
See this buyout factsheet for traders who trade the merger arbitrage spread for full details.
https://mergerarbitragelimited.com/codemasters-cdm-take-two-interactive-software-ttwo-merger/
I suspect the current price is driven by supply and demand as well as by the market makers who may be bidding with a hedge on the US stock as well as with a bit of a risk that this could fall through and they could end up with an unwanted position on their books. I don't think $170 price for TT stock is an issue unless you really hold a very small position. If your broker cannot take TT stock, you will be under pressure to sell and will probably not get a price close to the offer terms.
Based on sp drop today... apparently not!
Yes the offer is too low. £1bn more reasonable
Yes guys but you get nothing more than selling today at £4.83
You can get all the cash NOW or £1.20 And the other £3.65 equivalent in TT shares.
So you end up with some shares in a US company you probably didn’t want , but no cheaper than buying them yourself now- except the FEES. But then you’ll have to pay fees for selling them.
and at $170 a share - you won’t be getting many!!
First RNS said company directors backed it. Seems low offer to me