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I gave up, sold my holding and moved the proceeds elsewhere. At this point, we've actually lost value, over the last nine months or so, due to lack of movement and inflation. The price fall may be due to the lack of information on the completion date and it could spike back up when something is announced.
I am getting a little concerned that the takeover will collapse with the recent fall in price. June was a long time ago and the December RNS said the completion should be in the 1st. Quarter '24.
Anyone else concerned?
Am I correct in thinking that there is no cut-off date for holding these shares in order to receive the full £4, as long as you hold them on the day that it finally goes through?
Does anyone know when we are likely to receive proceeds paid from the sale? thanks
Just to clatify 'Network Shareholders who do not validly elect for the Alternative Offer will automatically receive the Brookfield Cash Offer for their entire holding of Network Shares.'
Used the links provided for the Scheme Documents and I can't see them!
Hi all, Does anyone understand this New alternative offer for Roll over shares as announced on 6th July?
Shouldnt we be getting some kind of update by this Friday?
Does anyone know of the timeline for the sale to finalised? Thanks
What today tells me is Brookfield are happy to pay 400 after due diligence, considerable negotiation and information gathering, which almost certainly includes current trading figures and outlook.
So IMO there are only 3 possible outcomes.
1 it gets approved at the agm and we all get 400 not 3 f-----g 83.
2 it gets rejected
3 A higher offer materialises possibly from existing II Mastercard.
Just recently had a buyout situation with Hyve which has now completed, the SP was almost continually either higher or at least equal to the offer price.
Might ther still be a counter offer as the closing deadline for the other group is 5pm today?
UK market is so corrupt, right up to the last minute in case major shareholders reject it, they won't give a fair price.
Was thinking the same even though I sold out is it time to buy them back for about 13p per share profit
Why wouldn't anyone buy more now at 385?
Great I'll be voting for it.
400p
Second deadline tomorrow.
Is it normal for interested parties to leave it right down to the wire?
Got 2 interested parties, neither pulled out, neither made an offer, deadline tomorrow.
Unless it's extended again.
Well at least it shows that they're both still interested!
Tomorrow is the deadline for CVS also.
Dread to think how much this will be whacked if both pull out!
Discussions between Brookfield and Network remain ongoing. Therefore, in accordance with Rule 2.6(c) of the Code, the Board of Network has requested, and the Panel on Takeover and Mergers (the "Takeover Panel") has consented to, an extension to the date by which Brookfield is required to either announce a firm intention to make an offer for Network in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. Such announcement must now be made by not later than 5.00 p.m. (London time) on 1 June 2023. This revised deadline can be extended further by the Board of Network with the consent of the Takeover Panel in accordance with Rule 2.6(c) of the Code.
This can be fairly common i have been in a few bid situations in which the SP has drifted from the offer price, people selling early not waiting for the final price. I sold half and letting the rest run a bit, seems the 387 might be the final price but who knows these days.
Yes, it makes you consider that someone has prior knowledge of the bid/s outcome!
It's just behaving like it always did, dropping consistently for no reason.
Does seem strange considering either suitor has pulled out.
Don't really understand why the SP goes down most days and is now quite some way from the potential bids (387p & 400p), has anybody got a theory as to why this should be? GLA