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Started: StockSurfer, 30 May 2024 09:17
Last post: OakhamFlyer, 30 May 2024 14:49
Appreciate the board are under significant pressure to get a deal over the line … Think Equals board need to exit the talks and chart their own course, too much time on this is causing distraction and distrust in the process is being to creep on…
Strange, the after hour big sell trade (last night) showing correctly on the actual LSE but here showing at 12ish today.
29-May-24 16:35:43 120.13 185,626 Unknown* 120.00 121.00 222.99k O
Yes, such low volume everyone holding to see what happens, nice little buy this morning giving a bit of support.
Seems to be slowly drifting down at the moment with no news. Sort of in limbo till trading update mid June I guess. If positive will hopefully break above the 130p mark once and for all.
Started: OakhamFlyer, 23 May 2024 14:03
Last post: OakhamFlyer, 23 May 2024 14:03
I had a dream 🛌 that Equals had a takeover bid post AGM was what my 🧠 was thinking..
It’s a tough hold when the market is booming elsewhere 😞 anybody hear anything post AGM…
Tell the suiters to bugger off and deploy capital via share buyback
SP will rise if they call a halt to these shenanigans
No sadly - Anyone going should hold the Board to account - They are doing a good job at surprising the share price with lack of transparency….
Fraid not Zebbo too far for me.
Be good if someone attends from here and can give bit of feedback…
Next Tues, anyone on this BB planning to attend ?
Started: zebbo, 15 May 2024 16:29
Last post: Morbox, 16 May 2024 09:38
I’ve added today, surely after all this time there must be a deal to be done. The CEO doesn’t seem the type to be messed around and personally I think would have walked if there wasn’t.
All said and done, there is no premium in todays price. Not when you consider the growth trajectory and FCF
Started: OakhamFlyer, 15 May 2024 06:56
Last post: StockSurfer, 15 May 2024 12:34
There is definitely a deal to be done here as there wouldn't be the continued extensions. Both parties are still mentioned so still interested.
I do not see the continual extensions as negative, just pretty normal, and neither side will want to spend money chasing something that looks unachievable. I have held these shares for many years after being impressed by the product and have always believed that it would eventually attract a buyer at a good price. Personally would be disappointed with anything below £1.50.
So this eye-watering outlay points towards an eventual deal ? The longer this wrangling goes on, the higher the fees and the more incentive to avoid wasting so much resource and do a deal ? Let's hope....
Agree, the rate of spend accelerates as time passes and the fees charged by the top legal and accounting firms are eye watering. Many people also forget the range of specialists that get involved, I still have a number of deal books which list the teams on each side and it is amazing how many are involved.
Equals booked Professional and advisory fees incurred on the strategic review of 0.656m by 31 Dec 23. No doubt that rate of expenditure has increased somewhat.
Last post: Chrisbish, 14 May 2024 22:31
Unless it is a substantial offer I would prefer to hold and add if the price goes down. It did last month and shares recovered soon after.
I hope there is no deal and it does drop as I will be putting this years ISA allowance in to it. I’ve had this investment for two years, first getting in at 83p and I think it’s better value now. If it is purchased, sure the short term jump will feel good but I will struggle to find a uk company with such good prospects at a current year forecast PE of 22.
Yep, looks like more of the same or eqls pull the plug
Either way we drop
Some big sells today too
Worrying times
SP seems to indicate another extension. The SP also seems to be in a holding pattern and has been for weeks now
Started: OakhamFlyer, 13 May 2024 10:34
Last post: Morbox, 13 May 2024 11:00
Looking back it's been the morning of the deadline. Anyway let's see what the next couple of days brings.
Well I’m not expecting a deal to be announced tomorrow as appreciate the deadline is the 15th at 5pm but I suspect they will notify the markets tomorrow at 7 am like previous form.
I do hope that a deal will get done but not expecting it …
Started: OakhamFlyer, 9 May 2024 19:16
Last post: dvs1, 12 May 2024 16:02
If the bid fails the drop should be only temporary, business is brisk and I think the wait for an offer is holding the share price back
Sort of get the feeling nothing is going to happen
As the market moves and equals continues to test the patience…
Let’s see what the 15th brings, it needs to bring a significant offer otherwise the board are in for a tough session at the AGM….
I do hope the board have got this …….. I beginning to feel that they could be naive at best and at worst just looking for a payout in the hope ….
Agreed the 21st AGM will be interesting, especially if we get another extension! On another point I do like the economic calendar on the website, saving selecting days on this site.
https://equalsmoney.com/economic-calendar
Started: OakhamFlyer, 7 May 2024 17:30
Last post: OakhamFlyer, 7 May 2024 17:30
When the market is moving this is a tough hold … The 6 months lag on deal or no deal is not helpful for the market or pi’s…
It will be an interesting next week with the AGM and 15th of May looming - I hope the board have got this…
Started: zebbo, 30 Apr 2024 08:00
Last post: zebbo, 30 Apr 2024 08:00
From ADVFN
Rule 2.8 of the Takeover Code provides that a person who makes a statement that they do not intend to make a bid for a company will be bound by that statement and precluded from bidding for six months, (although there are certain provisions to allow them to do so).
FleetCor, now renamed Corpay, announced their intention to not bid for Equals on 3 November 2023 which means they could re-enter with a bid in a few days on 3 May 2024, i.e. this Friday (or anytime thereafter).
The aforementioned 'certain provisions' is a very low bar to overcome and in reality Corpay could have made an offer anytime over the last six months. The fact they have not done so suggests they really have no interest in Equals, unless of course the yet-to-be announced bids are low ball offers in which case they may take an interest.
However... These following links come from Corpay's/FleetCor 'Newsroom' website
hTTps://www.corpay.com/corporate-newsroom?page=2&limit=10&years=&categories=&search=
18 March 2024
hTTps://fleetcor.gcs-web.com/static-files/55d9f576-40c4-459a-a1e0-aec5e6aa9bad
'FLEETCOR Technologies [NYSE:FLT]...is targeting buys in the B2B cross-border payments space and finds especially attractive founder-controlled firms that have reached a certain level of maturity or sponsor-controlled assets that have been held for five to six years, said Mark Frey, group president of
Corpay Cross-Border Solutions, a division of FLEETCOR.'
15 March 2024:
hTTps://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/fleetcor-says-bigger-is-better-when-it-comes-to-corporate-payments-m-a-80843302
'Fleetcor Technologies Inc. will pursue large acquisitions to help build its three core payments businesses, which it decided to keep together after conducting an extensive strategic review, said Steve Greene, the company's executive vice president of corporate development and strategy.
A priority in its M&A strategy is to accelerate the growth in corporate payments, Greene said. Fleetcor has solutions automating the workflow around how companies handle account payables (AP), including payment processing, so it is interested in high growth, profitable companies in AP automation. Payments companies that serve corporates' needs in cross-border payments are also of interest, he added.
Fleetcor has over $1.3 billion in capital to deploy for accretive M&A
Fleetcor would like to keep the cash flow leverage ratio below 3x, and could afford transactions in low single-digit billions without needing to issue new equity, Greene said.'
18 March 2024
hxxps://fleetcor.gcs-web.com/static-files/55d9f576-40c4-459a-a1e0-aec5e6aa9bad
'The company will focus acquisitions across the board on existing geographies of the US, Brazil, the UK
and mainland Europe, looking to penetrate “deeper, not wider,” Greene said.'
So it appears Corpay has had a recent strategic review and are now looking seriously at M&A activity. It appears Equa
Started: Bonniedog, 22 Apr 2024 20:35
Last post: Zak7795, 29 Apr 2024 13:31
As Ive said before Zak knows Jak
Is that not nuts.. it’s almost £1.30 anyway. Thought bids were usually +20% plus on current
????
I believe a possible number for company ha to be £1.70 minimum
Started: harrygasco, 26 Apr 2024 13:47
Last post: harrygasco, 26 Apr 2024 13:47
Good 2 page article by Bearbull who suggests 200p should be minimum takeout price.
Started: ninettecrumles, 26 Apr 2024 09:45
Last post: StockSurfer, 26 Apr 2024 10:03
Thanks. Would be great to see 200p plus. Maybe some more clarity on the companies future in may with the AGM would be nice. Perhaps not many more extensions left to go before they decide enough is enough. I agree valuation dosent really make sense based on growth.
Lifted from the ADVFN forums board (all credit to users there 'Mr Stephens' and 'carcosa'):
"Summarising the IC article:
The article examines the puzzling situation surrounding Equals Group, a fast-growing payments company that has been exploring a potential sale since October 2023. Despite its excellent technology, strong customer relationships, multiple revenue streams, and a massive total addressable market, Equals' shares have traded at a lowly valuation.
In October, news leaked that Equals had instructed its broker to gauge interest from potential buyers, prompting it to disclose that private equity firms Madison Dearborn and a consortium of Embedded Finance/TowerBrook Capital were considering bids. This kicked off a "put up or shut up" bid period under UK takeover rules.
However, over six months later, neither party has tabled a firm cash offer. The bid deadlines have been repeatedly extended, with the companies citing a need for further due diligence time. Equals itself has acknowledged the protracted process needs to reach a conclusion soon.
The article raises questions about why Equals is so intent on pursuing an outright sale. Its messaging has been muddled - suggesting a sale may maximize shareholder value, but also touting share buybacks to correct the undervaluation. The board has not clearly articulated what a fair takeover premium would be.
There are doubts about whether a bidding war will even materialize after such a drawn-out process. The low absolute and relative valuations of UK equities currently provide little incentive for bidders to pay up.
The article contrasts Equals' low valuation multiples to that of peer Alpha Group, despite their similar growth profiles. It argues that unless a formal bid tops 200p per share, representing a 50%+ premium, shareholders should demand answers from the board on why they are depriving investors of benefiting from Equals' strong growth prospects independently.
With the AGM coming in May, the article posits the board must soon bring clarity - either a compelling takeover offer or an acknowledgment they are remaining independent and outlining a plan to capitalize on the company's growth momentum and boost the undervalued share price themselves.
In summary, the piece critically analyses the opaque takeover process at Equals, questioning the board's intentions and arguing they must provide a clear path forward that maximizes value for shareholders, whether through a sale with a significant premium or articulating a plan to unlock value on a standalone basis.
It also suggests the bid price has to be 200+p and its more than likely a takeover will actually occur."
Im convinced the SP would be higher if TO was off the table. Especially after the results we just posted.....
I so wish LSE could do some gifs -This is a slow grind and I will keep the faith as they say…
Come on equals the market is moving
Started: Dubliner, 22 Apr 2024 19:15
Last post: Dubliner, 22 Apr 2024 19:15
I see RNS about dividend today amongst the usual 8.3 and 8.5 forms.
Equals Group PLC (AIM:EQLS), the fintech payments group focused on the Enterprise and SME marketplace, announces the relevant dates for the proposed final dividend of 1.0 pence per share announced in the final results published on 16 April 2024 ('Final Dividend'). The Final Dividend will be payable to shareholders on the register as at 7 June 2024, subject to shareholder approval at the Company's Annual General Meeting on 21 May 2024. The associated ex-dividend date will be 6 June 2024 with a payment date of 28 June 2024.
Started: stargate, 22 Apr 2024 14:28
Last post: stargate, 22 Apr 2024 14:28
Impressive fundamental, shown on the lse. Webpage, seem to indicate that an offer for the company, would have to be very expensive from the offering party. Equals, is a company going places, with such a positive financial business. The small rise today and current price equaling the open price, although decent volume, implies sp, hesitation, so from a technical chart view, if some kind of retracement , previous highs at 126 and 128, might be attractive place, to add to positions, in equity.
Started: Bonniedog, 21 Apr 2024 15:21
Last post: Dubliner, 21 Apr 2024 15:58
Would be nice!
Ups the ante on any offer the more it rises before PUSU close.
Heading up to £1.50 this week
Started: levantic, 17 Apr 2024 07:14
Last post: Morbox, 19 Apr 2024 15:15
IST and the board don’t seem the type to be leaky but great to see new highs.
Starting to head up now. Hopefully close above 130p. Up on a down day for the Markets too is nice
Sorry zebbo....just saw you posted first !
Are these interested parties waiting for the other one to name their price first I ask myself?
The extension message is v positive IMO, looks like they are seeing who will pony up the most - 1.75 is my guess, but could be higher based on yesterdays results
Started: TOTHEMOONBITCOIN, 17 Apr 2024 07:52
Last post: TOTHEMOONBITCOIN, 17 Apr 2024 07:52
When selling a house. If you are in a good financial position with good earnings visibility you can afford to sit and wait for what you believe is the full market value. To the contrary should you be struggling financially you maybe inclined to sell out at below market value. Imo the board are doing a fine job in their continued stewardship of the business but also in standing firm at the negotiating table .
We were very unlucky yesterday, due to the wider market sell off what should have been a nice 3%~5% rise was very subdued, without doubt 50% potential upside here over the next 12months takeover or not , one to hold and not stress about day to day fluctuations.
Have a good day all .
Started: scoredagainsteps, 17 Apr 2024 07:41
Last post: scoredagainsteps, 17 Apr 2024 07:41
What was the bid price before as this seems to be going on for a long time
Started: StockSurfer, 16 Apr 2024 13:27
Last post: Morbox, 17 Apr 2024 07:09
“ Whilst the Board recognises the time elapsed since the commencement of the Strategic Review, having now received indicative non-binding proposals from both MDP and the Consortium, it considers it to be in the best interests of shareholders that the Strategic Review remains ongoing to allow further time for it to reach its conclusion.”
Yes read it closely. Sounds like we getting a deal at a price we would accept or they would have ended it…
Have you read it?
Another extension ffs 🤦♂️
For those interested a decent write up on V O X by Paul Hill who has a sizeable holding here.
Wonder what tomorrow will bring….
Last post: Bobtastic, 16 Apr 2024 17:57
Great set of results, do we think the SP has been held so the %premium doesn't get carried away/unaffordable? I'm expecting the offer to be announced at close of play tomorrow in order to take advantage of any dips with people bailing if no 7am offer
Started: molatovkid, 16 Apr 2024 08:22
Last post: Morbox, 16 Apr 2024 08:45
Djframboise, yes I totally agree, how many companies can produce right up to date TU they are right on top of everything. The only thing is maybe it’s an AIM, who knows. Let’s see what tomorrow brings. I’m hoping to an end to it either way. If no deal I’ll just add on the drop so not a problem for me.
Unloved and overlooked. Don't get it.
After these results...that is the question.