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Trent,
See Just Eat just got a cash offer of £4.9b for a company turning over less than £1b and little or no profit. ITV makes excess of £500m profit on over £3b revenue. The recent takeovers make no sense and it seems Private Equities are in Ponzi mode........buy companies that can fail or those that don’t make consistent profit.
I was expecting pension funds to buy utilities and media companies since sovereign yields are super low but I guess I’m wrong. Pension funds can make more money by taking stable companies like ITV private ( reduced operating costs, reduced number of execs, focus on long term).
Thanks NigeCo for your sensible hype less response.
"Could the same be true that there isn’t a que of bidders waiting for ITV? Any thoughts?"
Who knows....
What I've learned over the past 30 odd years in this game, is that bids come when you least expect them.
A potential predator may well have been picking up cheap shares in the low 100p's, They could have hedged against the pound, and waiting on confirmation of a soft Brexit, before making their move on ITV. OR I could be totally wrong and no one is interested in acquiring ITV. Who knows.....
I am worried that hype of takeover of ITV may be similar to Peppa Pig (Entertainment One _ETO). It was said (by analysts and posters alike) contents is king, there will be ques of bidders etc. when the bid came even MMs priced it higher than the bid. Months later no counter bids and price now back to the original bid.
Could the same be true that there isn’t a que of bidders waiting for ITV? Any thoughts?
@H-hi
Good points, but I just don't see why no offer was forthcoming when such potential gains for them would easily have been available with minimal effort by them could have been achieved.
Just my take of course
Trent,
6% fx gain on ITV takeover if USD was used for the acquisition when £/$ was 1.2. Also divi payment would have been saved. Private Equity would have made money on ITV easily. Liberty is not interested as it had received VOD cash. We need a bid for itv studio with an agreement for ITV to continue getting contents at reduced price.
@ Nigeco
"ITV up next"
I have to agree, any bid for ITV would/should have happened by now, regardless of Brexit in my view.
There was no better opportunity for a preditor to steam in than when the SP & exchange rates between USD/£ were almost simultaneously at a low level. That would have been a perfect time to strike. But no one did. Who in their right mind in that position runs the risk of currency and share price fluctuations Northwards before moving in?
ITV can’t be taken over as it is now, sorry it needs to be broken up first. Studio / production arm could be sold but broadcast division is too political to be sold.
Isnt britbox out now? Im not sure but it popped up in googlefeed about a free 30day trial, i didnt read it but assumed it was out when i saw that.
"ITV NEXT UP?"
I can't help but think that any interested parties in ITV have missed a bargain when the share price was down at 102p. Also the very weak pound sterling, this could have been hedged so all to play for. Including share purchases at the low 100p.
I can only think that Brexit is holding things up. Once Britbox is launched within the next few months, the ITV take out price increases. IMHO.
Endemol Shine sold to French company Banijay.
The scramble for content is becoming frenzied
with Entertainment One and now Endemol Shine
gobbled up .
ITV NEXT UP?
Endemol Shine sold to French company for €2 billion .
ITV Studios worth north of £6 billion
Content wars escalating and ITV a jewel with over 40 0000 hours of digitalised content
Love Island alone could worth over £300 m
Another rise tomorrow imho