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Forgot to say, I'm looking at:
NANO (awaiting outcome of court case)
POLX (awaiting FDA approval)
TGR (ramping up production)
GGP (a steal at the current price)
Rex
Just out of interest, would anyone care to suggest some bombed out stocks that need a little TLC?
Feel free to ramp :)
Rex
Thank f@ck
Well done all those that held, always said this would be bought out and her we are . What a time for some to cash out and reinvest in bombed out stocks.
Agreed RNS says £5.32.
Obviously using the US $.
(Sharecast News) - Software maker Micro Focus said it had agreed a £5.1bn takeover, including debt, by Canadian rival OpenText.
The offering is £5.32 per share, a 98% premium on Micro Focus's current share price, which has fallen 87% over the past three years.
The FTSE 250 group provides IT services for business IT issued major profit warnings in 2018 and 2019.
Micro Focus has debts of $4.4bn. OpenText said it would fund the deal by raising $4.6bn in new debt, $1.3bn in cash, and $600m from its existing revolving credit facility.
Nasdaq-listed OpenText is one of the world's largest software providers and is used by thousands of corporate clients. It is valued at $13bn and has 14,800 employees in 35 countries.
Who is the buyer? Seriously?
Why don't you read the RNS?
Revolutionary, I know!
Rex
Interesting times - who is the buyer
Whilst I’m delighted Micro has an offer to buyout the whole group the price is lower than most would hope for. March 30th last year the closing price was £5.87. Board approval just over a year later which includes a 99% premium takes the cash offer to £5.32
This in my mind confirms my feeling toward the board. It’s a shame the in the end a Canadian company will probably do justice with company.
Our board will be even more compensated for their poor performance over many years. Some will have done well having bought recently. Most may make a profit to varying levels. Indeed, I will make a profit having averaged down many times probably due to stubbornness to a level where this will allow me to exit.
This is way too cheap. Shareholders would receive a better return selling off the group individually and paying down debt. Might not suit our board though.
Must be me but the price has been allowed to ebb away, only released bad news, make the share price drop into the 2s or the takeover won’t be voted through. Pessimist to the last.
We may never know just how our deal with Amazon was going.
It's a cash offer at £5.32
,5.32
I read £5.32 too.
However that's a conversion from US$.
Opentext is a Canadian company.
Exchange rate is c. 1.52 : £1.
That would make it £4.14 per share.
Many thanks
Yes it does need to be approved by shareholders. The whole process will go on in to next year. So far it is the board who have approved or it's not a hostile takeover.
The price on open will depend upon the markets view of whether the deal as proposed will succeed. If the view is that it will then expect a price a few percent below the offer. A lot lower then view is that it will fail with no alternative buyer/higher bid being found. In the recent case of GO G the price was initially higher than the offer price as there was expectation of a counter bid.
So yes there could be an improved bid later down the line.
Excuse my ignorance but I have a few questions.
Firstly doesn't this offer need to be approved by shareholders, as it says the sale is agreed?
And secondly, does that pretty much set the sp at 532 now, in other words wont move up or down much until the sale?
Also, could another interested party now swoop with an improved offer?
Thank you did see that andbhadbassuked that its a 25k swing for me and whilst i would never have sold and sat it out
The timing has helped me out of a cash flow pickle. Toot toot
Yes, US market already reflecting the agreed offer price and London should follow suit in the morning
helps me out of one had 45k in here down 30% and tipped it tonmy mrs who was also down. Well done to all that hung in and glad some have clawed bad some loss if not all.
Question. Should this open at that price ornthere about tomorrow's?
Could another PE now swoop?
£5.32 is what I am seeing.
Sorry for being stupid but in simple terms what does that mean per share? I.e what price per share do I get from Opentext?Thanks
Some company is using debt to buy this zombie. Well done to shareholders
Debt is 3.6 billion
Where do you get that?