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DBAY want more money or part of Proactis? Participation is an interesting word to use. Participation in the acquisition, not just go along with it and vote for. Anyone still holding PHD might get a few more pennies.
"regarding DBay's support for, and participation in, the Acquisition at an offer price of 75 pence in cash"
I think DBAY will ask for more money for the sale to go through.
Interesting thread this one. Bunco I understand your reasons for leaving as the performance of Sykes has been woeful.
I am more positive at the moment, I think we will get another bid. There was lots of PE interest last FSP apparently so let us see who really wants the prize.
Thanks for the update on telit laugh, I do not know about that firm. Is 220p a premium?
Finally DBAY have settled at 220p for Telit and perhaps they will now look to Proactis.
When it goes this quiet on the trades for Proactis something happens just afterwards and will be interesting to watch as there is a chance another group will throw their hat into the ring. Once only opportunity to buy the group.
Agree, the offer has been made and accepted by the board at 75p, to expect more is perhaps wishful thinking. I sold about 75% of my holding on the announcement but kept 25% in case of an increased offer, but with the breach I'm just more comfortable cashing all my chip and moving on.
bunco just following things out of interest to see how it plays out(i sold out here on morning after t/o news,but i have another holding where dbay are in a bid situation, so interested as to developments here).completely agree with your thoughts.it's the uncertainty which a breach engenders which is the worry.incidentally phd website (homepage etc )has been offline since some time yesterday evening.may be completely unrelated and not necessarily a cause for concern,but more comfortable to be out now imo.
There are a couple of things... the offer rather than scheme of arrangement may not make any difference to the shareholders if it all goes through (get 75p a share either way), but it does make a difference to the bidco as they could have to contend with dbay holding 25%+ of the private ( I think the offer route doesn't force all shareholders to sell at the price stated as the scheme of arrangement does, they could keep their shareholding) company and being disruptive to their plans, therefore it may not be such an appealing prospect for them to make the takeover through the means of an offer given the increase by dbay. Secondly, we have no idea from today's RNS as to the severity ( doesn't sound too bad) of the breach, but any breach will have some degree of reputational damage. If it turns out to be more significant then it could have an impact on the deal (unlikely though I agree). I got around 73p for my shares today and average 73.5p for my entire holding which is almost exactly 150% profit, I would be holding on for potentially another 4-5 months for another 2-3% and hoping for an increased offer, which I think isn't that likely anyway. The upside isn't really there.
And just a final point, imagine the impact of this RNS 2-3 months ago, think we would have been down a chunk, for me safer to cash profits and move on. This is just the explanation you asked for and is all just my opinion based on my circumstances. Good luck, hope the increased offer comes good.
That’s an interesting reaction, the scheme of arrangement is not likely to succeed now however the offer requiring more than 50% will go through. PHD and BIDCO already have the required undertakings, the price is 75p.
A cyber attack increases the risk of no improved offer? please explain. This is a genuine query I would like to understand your thinking.
Was continuing to hold about 60k shares in case an increased offer arrived, but the news just released was enough for me to cash out, increased the risk a little too much vs likelihood of improved offer... Could play into dbays hands as pi sell off last of their shares. Happy to be out and moving on. Good luck to anyone staying in!