London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
At least one top 10 shareholder in automation software firm Blue Prism Group Plc isn’t happy with the price the company was offered by Vista Equity Partners.
David Brown, portfolio manager at Hawk Ridge Capital Management, said in an interview he is supportive of the company being sold, but not at the 1,125 pence a share price.
“It is a very low price based on our analysis of comparable companies and transactions,” Brown said.
He added, “We think the company is going to realize greater value with a different owner but we are very skeptical that the recommended price represents full value.”
Brown said his firm is still evaluating the offer but is unlikely to support the transaction.
A representative for Blue Prism wasn’t immediately available for comment.
Hawk Ridge said it’s been an investor in Blue Prism for more than two years.
Hawk Ridge, based in Los Angeles, owns about 3.5% of Blue Prism shares making it the 10th largest shareholder, data compiled by Bloomberg show.
@Break, any way you can paste the contents of that Bloomberg article into the chat?
Further to the announcement made by Blue Prism on 31 August 2021 regarding possible offers for Blue Prism, TPG Capital, the private equity platform of alternative asset firm TPG, ("TPG") confirms that it does not intend to make an offer for Blue Prism.
TPG have ruled themselves out.
It's clear that many people can't believe they've sold at such a low price - https://www.bloomberg.com/news/articles/2021-09-28/top-10-blue-prism-shareholder-unlikely-to-support-vista-deal
Peculiar price action on PRSM... it's either folk closing short positions or the market doesn't think that the sale will go through at £11.25.
If the sale doesn't go through (fingers crossed for that), Kingdon and his cronies need to **** off sharpish and let an actual business man or woman have a crack of the whip.
Neel13
Yes, any other party can put a bid in after the 28th
They have 23% from the 75% declared. These are Jupiter, Edge Capital, two founders and the CEO. Long way to go
hi Jamstar,
THank you for that so from my understanding all bids had to be in by 28th or only for TPG and Vista?
Are you saying they could have bids today too from other parties? Are there any other parties that came up?
Also to get 11.25 they need 75% of shareholders to agree ( i read this somewhere) how much have they got at the moment if anyone knows .
Sold 3m shares yesterday cutting their position by half. Second largest shareholder pre-deal and now second institution to sell.
Polygon keep adding shares and derivative long positions
@Neel13 Possibly made an offer before 5 PM but its taking Blue Prism board to evaluate today before they issue news. Also, the 28th deadline was for TPG and Vista, other bidders can appear. As someone said earlier, its hope that kills you. Only one institution has sold out, so its not just retail that thinks its worth taking a risk.
other potential bidders or, more likely, the current bidder realises they may have to pay more to get the verdict
But i thought yesterday was the deadline...
Please explain..... I thought no bids after the 28th?
Are people still seriously asking this question? The deal is not done - the market thinks a slightly higher bid will be needed
It is the Hope that kills you...
If the deal is done at 11.25 why is the price climbing .currently 11.68
There is also a significant increase in trading volume
To my mind the price agreed reflects capitulation rather than negotiation
I can't believe the BOD is happy to negotiate & accept an offer when the SP is at its near 5 year low.
We have had one offer and the BoD has thrown in the towel claiming the headwinds the company faces and the difficultly raising funds in London means it's better to cut and run for them (some having sold at £25 previously).
Vista may have got themselves a bargain, or a pile of pooh, but BP is still small beer, perhaps too small to interest the big boys.
Whilst the market is pricing in a slightly higher offer, the talk of £18 plus looks wide of the market. I have invested on and off in this company for years and only ever lost money, so I'm out. (The price will now rocket lol!)
GLA
R
There still seems to be some interest in the share. Is it shorts being closed or hope of further news?
Weird, feels like someone knows something we don't. Only one institutional investor sold out 1.1m shares (1%) yesterday, rest are holding strong
Or apparently increase
Just people guessing something else will happen here?
Those after hour trades are possibly trades during the day that get settled off book after house and sometimes they vary quite a bit from the closing price. Unless we get a pre-market TPG announcement, the premium over 11.25 is likely to disappear tomorrow.
I think the PE group buying this company will regret it. Their software isn't that useful and is overrated.
Just saying
why were there so many large after-hours O buys ? if a second bid will not materialise