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Great news indeed. My only issue is that GNK was one of my larger dividend earners. Now I have to find a replacement - so many choices....,
GNK owes me big time - I bought my shares in 2017 ad the next day they dropped by 25%, so I flogged my shares as soon as I opened my HL portfolio and saw the takeover news. I sold them for £8.44 which made me a very happy man indeed!! Even happier to se the share price has fallen today to 8.40. Could someone please take over lloyds for £2.00 per share?
Sweet. That's what I call a takeover offer! Dipyourbreadin I hope you were still a holder here fella.
Berenberg also on the ball. Last month had GNK down as a sell with target price 450 pence. Upped it to target price 850 pence today. At least it proves that at least one person in the bank can read. Must have been doing a lot of research to come up with that dramatic turn around.
Some holders in a hurry to get hold of some cash for reinvestment elsewhere.
I will hold to get the full 850p or an higher bid.
I won't be too disappointed either if shareholders rejected the bid.
Still the possibility of another bidder so I expect to hold for a while. Not sure when the deed will be done. They mention Q4 but that's not specific enough.
Riszer that is common parlance in Takeover situation so I don't believe it has a subtext.
GNK has fallen a smidge today which is not real surprise as beer tends to go flat if you leave it on the table too long. Nice premium as the uplift in the SP is well above recent averages but they are paying peanuts when you consider the SP was 1200p at one point. I would be feeling salty if I had put my order in at that price. It would be nice if another bidder was flushed out as it could go a few rounds. But the offer and the last divi is really enough for me to dine out on.
I see both JP Morgan and Liberum have today, raised the target price to 850p. You have to hand it to these people, they certainly work hard doing research for their money.
I don't believe this represent s the true value of the business and it's assets. The announcement stating "consider the terms of the Acquisition to be fair and reasonable," suggests so too. With previous acquisitions and an older SP considered, the offer should be higher.
Worried that I will not now receive those lovely discount vouchers from the company but probably outweighs the gain from the £20k invested at circa £5 per share a couple of years ago. Anybody for Marstons now ?
DJ
''For what it's worth, imo Brexit is ****** and the dumbest act of sabotage in my lifetime. ''
That is why you are confused, and showing your prejudice .
Inferring that the offer for GNK is in some way means that the UK is not taking back control of it's own affairs from the EU.
Confused? Why? Am happy to be making money. Have a few more that I thought might be takeover potential but this wasn't one of them. Just don't see UK companies being owned abroad as necessarily a good thing. For what it's worth, imo Brexit is ****** and the dumbest act of sabotage in my lifetime.
Regarding when the deal will be finalised, looked a little vague, i.e., Q4 2019.
''So much for taking back control''
You seem confused
Only problem now is what to do with the money, Maybe back into JDW, unlike most everyone else they seem to be looking forward to no deal Brexit.
UK companies are ripe for takeover at current exchange rates. With no deal sterling will head even lower and make takeovers even more likely. So much for taking back control.
I don't think the offer price is anything special. The shares were going for nearly £10
less than 4 years ago. Property portfolio must be worth near enough the offer price.
I wish they would buy Marstons.. Im happy to sell those also at a 50% premium!!
Just got back in to see this share price. I topped sliced in April at 700p, and was contemplating
purchasing those back very shortly. Never mind I still had plenty left to benefit from todays rise.
I will now look into the details of this offer. I don't really like our UK assets going to overseas buyers. This may be the start of further takeover offers from overseas due to the current low sterling rate.
It looks like it is a done deal, and the 850p guaranteed!
Nick Burchett, who hold Greene King in the £127 million Cavendish Opportunities fund he runs with Paul Mumford, said the offer was a 'great reflection of its value'.
'The business has a good portfolio of freehold property and a strong position in the thriving UK pub and brewing sector,' he said. 'And with neither opposition nor competition on the horizon, it seems like it’s a done deal.
Hi Pseudo,
So is the 850p now guaranteed?
or you could wait a little while and see if anyone counter offers, probably unlikely but nonetheless could happen. The £8.50 is pretty much in the bag so really depends how quickly you want / need the money..................
You can sell your shares tomorrow in the open market as normal, or wait a few months and receive a cheque for the total holding at 850p. You will also receive the dividend payment announced in a few weeks.
So what happens next, to take advantage of the 850p share price, do i sell via my normal on line broker, or will GK simply cancel shares and send over the cheque. Afterying in at 644p and struggling to get any return apart from small divi, I need to take advantage of this price windfall........ how do i sell? Any advice as this is my first shareholding after takeover....
Well GNK Thank you, for free shares I earned in my youth and the 17 years of dividends.
PS. Please don’t put the prices up at my local and flood it with contaminated pork :)
"Noooooo I love my 25% off. :("
Why would that end?