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I'm keeping a few.
Not necessarily expecting a counter bid, more likely that they won't get 75% acceptance and TB will need to raise their offer.
100% precisely what I wrote here yesterday. The share price movement (or lack of, to be precise) says it all. There won't be another bid, so move your money on and get it working for you again.
And a UK perspective from an extract in the Times:
“Sometimes you can’t keep a good story down. Take Darktrace selling up to Thoma Bravo for £4.3 billion cash. Here, apparently, is the latest proof of London’s sinking stock exchange, unable to value anything, least of all tech companies. “A hammer blow for the UK market,” was how Peel Hunt’s research chief Charles Hall put it.
Really? Whatever its wider problems, hasn’t the market worked pretty well in Darktrace’s case? It takes two views to make a market. And here’s the view on the Bravo deal of the ex-head of a different stockbroker: “A get out of jail free card for London.” Indeed, since 2021’s float at 250p a share, where the cybersecurity outfit raised £165 million, it’s yo-yo’d between such opposing opinions. Yet three years on Darktrace is still being acquired at 620p. If the UK market routinely delivered that sort of result, investors would be queuing up.
Of course, the Darktrace board, chaired by Gordon Hurst, did its bit to play up to the narrative, arguing that its “operating and financial achievements have not been reflected” in the shares, what with them “trading at a significant discount to its global peer group”. But what exactly did it expect? However powerful Darktrace’s AI algorithms, they’re yet to find a way to neutralise Mike Lynch: its founder investor on trial for fraud in America after 2011’s $11.7 billion sale of Autonomy to Hewlett-Packard.”
They also mention that the current price is not signalling a competitive bid is on the cards.
Only 4 million shares after some 30 million on Friday
So most people are Holding out for Higher Bid....a Higher bid may or may not happen ...Jeffries and others likely might be looking out
Alphawave has been a disaster so far. Rises on hope/hype then crashes on results. It's a good area to be in and looks promising on paper but management is incompetent.
Some big buys coming in... Probably sells also...
9m UT
In a nutshell, from over there:
https://www.informationweek.com/cyber-resilience/thoma-bravo-s-5b-darktrace-bet-highlights-cyber-s-ai-excitement#close-modal
May be they are licking there wounds and hoping it falls so they can get some of their money back
Why have they not closed it out yet?
"Name of exempt principal trader: Jefferies International Limited"
"Short positions 9,289,013"
Unless they were acting as broker for other shorters?
TheSoundMan. - Very good. Lol! That .027% betrayed my lack of belief!! Called out!
I sold my entire holding on the morning of announcement at 620 as if it goes through that's roughly what I'll get anyway which could be 6-9 months of dead money. I'm ready to jump back in if it falls through and am free to invest elsewhere vs watching it bounce around 595-605 for 6-9 months at the mercy of GBP/USD. I do think they are worth more and hope holders get a better bid (then I lose additional gain but I'll hopefully be making that elsewhere in the next 6-9 months. Safer out than in IMHO.
Not certain enough Sheltie. If you don't work to 3 decimal places you're a chancer ;-)
You really do have to ask yourself as to why this is not being chased higher? I would have expected that to be happening, but the share just isn't moving. This to my eye, suggests that the market thinks that this is as far the 'DT takeover story' will be going? This just does not have the 'feel' of another bid lurking in the offing; nor is it behaving as though another one will appear. 'If' there is another predator out there that is hungry for DT, then it will need to pounce quickly & aggressively, or TB will be left to drag their kill away, unchallenged. Everything, it seems to me at least, is pointing to the latter scenario playing out. I should point out, that I'm about, but not exactly, 69.27% certain of this.
just so everyone is clear, that 69% chance is pulled from charles ****
Thanks DRced. I've taken a look and bought a few AWE. Maybe its due for a rebound since its recent slightly disappointing results. I notice on Stockpe... it meets the long screen of "R&D Breakthroughs" is a quality investing strategy inspired by a screen devised by Jack Hough. Forecasts, for what they are worth, indicates a target price 72% above present on Stockp. In the pink newspaper its "The 3 analysts offering 12 month price targets for Alphawave IP Group PLC have a median target of 189.74, with a high estimate of 268.99 and a low estimate of 151.31. The median estimate represents a 61.07% increase from the last price of 117.80". First time that I've read much about chiplets as opposed to chips.
1 sell out now and move onto other shares ( no point waiting months for extra 15 p)
2. Sell out and pray for a no vote blocking the sale ( 10 per cent chance )
3. Hold most shares , sell a few , and wait for new buyer to emerge at higher price ( 69 per cent chance )
Are you sure HKK ?
Take a look at Alphawave. Caution is advised.
I only bought DARK on Thursday afternoon and happy to have made a profit. Sold this morning as I don't see much upside from here, and probably better off investing elsewhere. I've been looking to find a similar company with AI credentials, but not already inside a larger company.....
HG
‘Any person who is interested in 1% or more of any class of relevant securities of an offeree or offeror company must disclose any dealings and positions in any relevant securities of the offeree or offeror company, even if their interest in the relevant securities of the company dealt in is less than 1%.”
I think this is to prevent undisclosed stake building. It is not a vote on the proposal to the best of my understanding.
Yet
12-Apr-24 Jefferies Buy - 890.00 Reiteration
Thanks HKk and everyone contributing including good old Sheltie
What does all this mean
I mostly care now , can Jeffries find another buyer ?
Https://www.lse.co.uk/rns/DARK/form-85-eptnon-ri-darktrace-plc-x586soi7yxib3zb.html
Heck out https://www.thetakeoverpanel.org.uk/disclosure/disclosure-forms