The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Crank
They do need over 50% (of which they have 17.2%) to secure the bid. 30% means they have to make a bid (from my understanding, often flawed!) but that is irrelevant since they have already bid. Not sure whether as a declared bidder they are allowed to carry on buying in the market prior to the vote, thereby giving themselves more votes. Maybe someone can inform me. If not they need to persuade 32.8% (ok strictly 32.9%) of shareholders to back them. Exciting times. Wonder why they didn't try to get closer to the 30% before declaring the bid?
Crank
We'll see. If I sell at the current price I will clear the 115p. Just. If I wait I'll get ..... 115p. I think I will wait my time rather than make one of my (in) famous investment decisions elsewhere, at least its safe(ish) where it is.
Why on earth would it be unethical? Its a market and the shareholder vote hasn't been taken. For an ongoing company It up to the majority of the shareholders as to what happens
Might be whispers of a counter offer but as price offer per share now public that would be a tad unethical, but you never know. Shame I didn’t get in early this morning but concentration was elsewhere on the pharma sector.
Quite right Mas, there will be no MCS post deal, at least not a quoted one. The board of MCS have rolled over and accepted their pound of gold without a fight apparently, justifiable only if there is something nasty which hasn't been announced - and if you believe that then you should dump in the market because due diligence will flush it out before the deal is finalised. The SP was over 150p earlier this year and pretty much throughout the whole of 2019, despite the leasehold model scare. Property prices still high, the population is still aging, so the model very much intact with no real competitors in the UK. Leasehold issue now sorted and the deal with Anchor Hanover announced recently. This seems anecdotally a low offer and the BOD is welcoming with open arms? Cant say I am impressed . I note the SP is, as i write at least, steady at a premium over the cash offer price which will take months to receive - what is that telling us?
You do realise the board have accepted an offer of £1.15p per share so likelihood is MCS is not for much longer?
Jumped out to take a very nice profit. It's been a bumpy year so for me it's a case of take it now. However I will watch MCS going forward as it is still an attractive proposition. Should there be a fall over a difficult winter then I'd certainly consider buying back in