Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc. Watch the full video here.
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DVO thank you.
Maybe wiser if I just sold 50%
This the only clue from ginster on ADVFN
I wonder if a 3rd party was showing some interest and in sausage circles the bidder got wind of it ? Perhaps they upped their offer to nip in the bud or deter a possible counter offer. Interesting that they state that this is a "a final offer " subject to a 3rd party getting involved. This would seem to indicate that if push comes to shove there might still be some more cash in the casserole pot to secure the takeover should a bidding war take place.
Something above my understanding here, sells going through at 327.65p this week.
Just sold all of them for 327p , I thought I read the offer with the extra div worth 326p
I will be sorry if another bid comes in , not sure why otherwise I sold for more then the offer .
Did not need the cash as been selling mostly .
Planing to reduce borrowed cash .
Not sure why the offer was increased the share price above the offer at 370p .
Thu, 16th Feb 2023
Devro recommends increased GBP564 million Saria takeover offer
(Alliance News) - Devro PLC on Thursday said it received an increased and "final" takeover offer from Saria Nederland BV, an indirect subsidiary of Saria SE & Co KG.
The Devro board recommends the offer for shareholder approval, deeming it "fair and reasonable" ahead of a general meeting on March 3.
Shares in Devro were up 6.4% to 326.20 pence each in London on Thursday morning.
The Glasgow, Scotland-based sausage casing manufacturer said the revised proposal would see its shareholders receive 320p in cash for each share from Saria Nederland, alongside a second permitted interim dividend of 10p.
This would value the total share capital of Devro at around GBP564 million on a fully diluted basis, implying an enterprise value of GBP692 million or 11.3 times enterprise value to earnings before interest, tax, depreciation and amortisation for the financial year that ended June 30, 2022.
Devro said it follows an agreement between the boards of Devro and Saria Nederland for a cash acquisition on November 25 last year.
After consulting its financial adviser Lazard, Devro's board recommended the proposed takeover to its shareholders, deeming the terms of the acquisition "fair and reasonable".
On January 13, Devro called a general meeting to take place on Thursday to approve the takeover, which has now been adjourned to March 3, in order to allow shareholders sufficient time to properly consider the revised proposal.
This morning's news ( increased offer ) was a pleasant surprise. It seems unlikely that it'll be trumped, but I'll probably let it run it's course and hold till it's all done and dusted.
Thanks for the reply, I won't be holding out for the takeover price. Too long to wait!
All else being equal the share price will drop on an ex dividend date - all else isn't equal though so it could go up, it could go down, impossible to tell in reality. If another higher offer came in (very unlikely given this is a recommended offer with significant synergies / benefits) then the share price might go up regardless of dividend etc. Either way if the acquisition goes ahead and you wait you will get the divi and the offer price, which is a little higher than the price today.
Trying to decide whether to sell before Friday or wait to qualify for the interim dividend. Is the SP likely to drop after the record date?
What a result , they have been buying for at least 4-6 years probably longer
Certainly hope so as I am topping up having lifted sold into the market over 10K DVO shares which were held within an ISA. Nice for a Friday.
Gives me a cushion to lose in HFG but hopefully not.
GLG likely got caught short. This has turned out well overall for most holders. I invested in this as I thought it was undervalued, paid a decent yield and would eventually reach it's potential in terms of share price / value. I have to admit it reached it's potential faster than I expected. I will now have to find a suitable home for that capital again.
L3trader, I would quickly research Kod. You need to be very quick. DYOR
Yes, well done to all LTH’s. I was in from 2013, bought more a few times but had enough of continual bad news and got out a couple of years ago. Would have made a nice profit but hey ho.
Bought a small amount here literally two weeks ago, looking to further de-risk my portfolio into defensive sectors. Food, tick. Profitable, tick. Low P/E, tick...
So today I've banked a 65% profit!!! They don't come along often, so thanks for all the fish!
Well done to all long term holders here. It's nice to turn a quick profit, but it's even better to see patience rewarded.
great move Mary into HFG, sp is so cheap there right now, I work in that industry and it is a great entry price for that company
Saw my available to trade up so not surprised to see a riser among the huge portfolio.
RNS says 92 per cent above the Closing Price of 164.8 pence per Devro Share on 25 October 2022 (being the last Business Day before receipt by the Devro Board of Bidco's conditional indicative proposed offer).
Not sure at present why I bought 18/8/2016 at 247p ( two part lift ) 7/9/16 at 233p then the 3rd buy 22/4/20 at 143p ( three part lift ) can not get to my notes .
The covid low was 126p 5/3/20 Thank God I decided to pay 143p in the April .
They were 164p in October 2022 when you can then see the insider news of this offer in the chart .
The rise ending two days back dropping off slightly from the 193p high . ( maybe chartists traders seeing a pull back )
Bidco's is a name I have seen before in takeovers are they an agent ?
Well done all here. I lost patience a few years back and sold out, but this a helpful reminder that cheap stocks do reward investors eventually, whether through a greater appreciation by the market, or a corporate buyer.
ZPHR oil and gas company but in the US
Heheheh.... that was my reaction too. Either the Dutch or the Spaniards were going to acuqire Devro. It was a matter of when and who rather than if. I accumulated shares over a decade, and will make a nice return on my investment. Now, just need to make sure I delpoyed the capital to a company and sector where the potential returns are high as well.
Any ideas anyone?
(No suggestion about oil&gas companies, as they have been effectivelize nationalized by the state by stealth!)
ATB
that was a shocker i expected a climb but no 60% i decided to sell up it was just too big of a rise ....will certainly try to get back in if it drops i have held these for years and was quite happy with the divi but there is a price for everything......gla
getting out at these levels and into HFG - next target surely at the depressed levels.
Yippee whohoo
Delightful to see GLG increased their short in October. Bet there are some red faces in their offices this morning. lol