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There have been lots of sell to buy for few days but the SP keep climbing. Is there some smart disposals or someone buying seecreatly buying to order?
SP often opens up strongly yet falls back as day progresses. Is there something at play here?
This morning its up 6% yet this will drop back no doubt.... just seems odd
All gone very quiet here - deal likely off because the suitors were serously undervaluing the company or in laymans terms the BOD was going to lose their jobs so said sod off.
Swingman - Somewhat like Senior Engineering, multiple offers, price shoots up, offers rebuffed and now look at the share price way below the offer !
Sp climbing back up - deal on its way?
I wouldn't. jump-in. The same outcome in the previous 3 attempts by others. No didn't come back to offer more, because this struggling outfit is not worth much more as the buyers don't think there is much in it without spending more. Now it will drift back to 110-120 range.
The management get good income for them why would they give it away?
Daverec makes a good point that the first offer is never the knockout price.
Still its unsettling there has been no further developments over the past week but great to buy in more and average up.
Sp climbing steadily over last few days- the narket knows a deal is on its way imv.
No rns about takeover talks so we will likely have to wait for a rns calling for an egm and removal of the bod.
Tomorrow will be interesting because we are likely going to get wider press coverage and a further lift - hopefully a RNS with something positive also.
Tough to believe that their opening offer was their highest offer
If only Waterman was the CEO of a company interested in acquiring Elementis, then we would have no trouble getting a healthy takeover offer. Sadly, all of the potential suitors seem to have a much firmer grasp of not overpaying for highly cyclical businesses. The ELM board are culpable for allowing Waterman to destroy shareholder value on the grandest scale imaginable.
Dave, thinking about this further , if the offer was 160 and the required price was 180 the gap , at 20p is less than 10% , surely there is a deal to be done?
One further thought - keaks are often for a reason - usually to flush out another offer or to get shareholders on side- we shall see.
Dave, thanks - we have been here before but third time lucky imv. Added another £5k in expectations nobody will fall for management bs about future value this time around.
Report that KPS (US Hedge) offered 160 a share. BoD asked for 180. Things gone quiet since.
https://www.reuters.com/markets/deals/us-fund-kps-explored-takeover-offer-uk-elementis-sources-2024-01-24/
Why the lift today - bid?
And one thing to add, the team were very insistent on these targets being set on the assumption of "self help" which means for them without any assumptions of improvements in the markets themselves, so no overall general growth to help their performance numbers, the base being 2023. I think most of us are hoping that things will get better in the background, like today's inflation number coming down, so there could well be upside to both volumes and margins.
I attended the CMD today, which was a three hour presentation, demonstration of new technology and Q&A session. In all it was very impressive with presentations from the CEO and heads of the two business units, sustainability and the CFO. Maybe some of you saw the live stream
They showed the rationale behind the RNS this morning in a lot of detail, with where the new revenues and margin growth will come from. I recommend that believers and cynics both take a look. I've already stated on here that I am a believer, but you guys need to make your own mind up.
I left the questions to the financiers in the room, and it started with the lot that sent the open letter, FT, asking three questions that were pointed but seemed blunt after the depth of the presentations that preceded them. Of course the proof is in the pudding, but the shares seemed to like it today and lets see about the broker's notes tomorrow.
The business seems set on their "innovate in the premium segments and create enduring relationships with customers based on joint innovation plans" strategy which is one I like. They do need to deliver of course, and I believe they will.
Inline with my previous comments and strong opinion re lack of shareholder value. There is no jam tomorrow and the bluff & bluster has run out.
I think that they have put the company in play and are saying to any suitor, you have our backing.[ They have mine too but not sure that counts for much]
Excellent move to put a shot firmly across the bows here before the capital markets day.
It is remarkable that the CEO remains in tenure given the destruction of shareholder value through ill judged acquisitions. The Board should acknowledge what a terrible job has been done for shareholders but that requires some humility, which of course these sorts of people do not possess.
And yet the Board still feel able to release a final comment about delivering the 'next wave' of growth and efficiency - I'm still waiting for the first wave!
Typical, can't place a deal at the one time I would like to. Thanks HL I can see why people are moving to fee free platforms, I thought the one advantage of paying for a service is that it would be more reliable.
Check the RNS