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the debt's a red herring...insignificant, and daft to hedge given natural hedge from op profits
EV of barely bover US$1bn puts this on low rev multiples...or EBITA
looking to buy seriously somewhere around here...but may get sub £3
Fwiw, Edison Research's view:
https://www.edisongroup.com/publication/fy23-outlook-maintained/D5052/
The_Observer "GTCR first announced it was considering a possible cash offer for the Company on 6 September 2022, in response to media speculation. The GBG Board had early-stage discussions with GTCR in respect of a possible offer for the Company, but agreement could not be reached on terms."
I read that to mean that the GBG board would not recommend the level of offer from GTCR to shareholders. Pretty certain it would have been way north of current levels!
Absolutely spot on. GBG got a new CEO about 3 years ago and he has wrecklessly bought Acuant and having no hedge on the debt is plain stupid. GBG won’t be considered as investible until he goes,
We know for sure that GBG have overpaid for Acuant. Had they waited a longer would have most likely got them around 50% less. To rub salt in those wounds, the loan to buy is in dollars and there is obviously no hedge. If a US company were to buy GBG, not as cheap as looks because of the $165m loan outstanding. Fortunately they have US$ income but market confidence in the GBG board must be low.
What do you mean? No offer was made.
Another example of should have taken the money!
Wow, make that down 20% - 345p to sell - ridiculous!
I've put my money where my mouth is: topped up at 367p.
Can't see anything wrong with it but, I suppose predictably, the share price drops 10%.
Cyclical value, secular growth, investing-wise nothing works atm.
Nobody wants to buy this company any more? It's cheaper now!
Drawn to this thread by Mezza who like myself took a hit on LAM .
They are indeed good posts from Checkmate
Thanks to both of you .
"I do appreciate your very in depth reply to my question on GBG."
I notice that another successful cyber security company, that also boasts offices in the states, & have purchased a company that will enable them to grow their profits more - 'Intercede' - IGP has seen a lot of trades this morning & the company is posting regular updates too. Viewing their graph it's a company on the recovery now. They have grown their cash reserves too. Post in November. Been 30% up today in price. Under 50p is still good.
It's a mad old market, but at least it keeps giving good opportunities and I've taken advantage of today's price weakness to get my position up to a more meaningful level.
I keep selling non-UK to buy more UK and I'm now maxed out on Blighty, so I hope to God that "things can only get better"!
Am surprised the "yanks" passed up a bargain. Pleased they have and would be adding to my holding if i had any money to spare. Good luck Shanny80
Disappointing with regards to the current share price but it gave me the opportunity to buy some more. Time will tell if that was a good decision or not.
Alasdair Young, an analyst with broker Panmure Gordon, said GB Group is now an attractive Buy stock: “With the shares now only seven per cent higher than they were before press speculation about the bid emerged, we see this as an attractive entry point for one of the UK’s best software assets.
“Moreover, we highlight that in the absence of a sale, current holders will benefit from the anticipated acceleration/expansion of growth and margins as Acuant becomes fully integrated and the revenue base becomes increasingly US-weighted.”
You did well there Sustain, I hovered over £5.38 at that time!
Wall Street opening later on might effect ?
I dumped my holding at £5.40 this morning after the news broke ( not on here mind ) I had it in mind to buy back at 4.50 but it never got that far, I was thinking it was £4.50 before potential bid news broke, we have had some poor market conditions in the last month and perhaps it would get there.
This company I feel is one of the uks best small tech companies, imo it gets the golden 3 out of 3 , unlike Darktrace and various others.
1. Gets a lot of new business/ customers
2. Retains them
3. New customers are profitable from the outset.
Does sound genius does it but many young business don’t manage all 3.
As the RNS says the runway is very clear , long and in front of them.
Missed 468, 480 now, I’m going to sit and watch just now .
I agree. They would of given an offer price which the GBG would have laighed at. GBG will grow over the years as it previously has so a lot of potential.
Feel for you Rizario, if it makes you feel any better, I bought shares in MADE last year...lol! However, I do feel this one will come good. ...
Always interesting to speculate why the suitors walked away. Did they throw up their hands in horror when they looked at the books, or did they baulk at a rich valuation imposed by management? I guess the latter.
Wow that;s three out of three for me, Darktrace, The Hut Group and now GB group! back in the draw the shares go!
It’s me, I was looking for a GBG!
HH, I couldn’t see it, on the real LSE, but probably just missed it when scanning through as the news broke on Bloomberg.
Okay, RNS has arrived. Deal is indeed off. What a pity...
Not invested here, but how is it right that Bloomberg is reporting no deal! Just checked LSE London Stock EX no RNS stating the news.