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Large director sales in March and no news.
Glad I sold at 7.8+ since I would not wish to be waiting for the final outcome
Not just me that has a knack for picking dogs then!
Are there any shares making PIs money?
Another one from my basket going to cheap God I sure can pick them. Poor show all round doing so well too. Power to the small investor.
I saw they were trading @ 833 today. Rather strange!!!
I suspect Berry's offer will not be accepted at the current price and that they are prepared to go a bit higher to get it across the line. If Apollo can get round the restriction they've put on their own bid and come back with an improved offer themselves, so much the better.
I sold about half my shares a couple of days ago for 797p. The shares cost 799p including costs, so made a tiny loss on price and the dividend just kept the investment positive. I also believed that RPC would have come good and would be worth over 1000p per share, but BOD seem to want out of the business.
The share price would drop further in the short-term if rejecting the sub 800p offer and booting the CEO. Ultra parted with their CEO in 2017 and the share plummeted by around 30%. The share still hasn't recovered to the pre-crash price of 1800p even after 15 months...
I reckon the game is over. Very best (tiny chance) someone else comes in or Apollo re-enters the fray and offers another few pence above the current offer price.
It's clear the board just want to sell and are not interested in achieving best price for company. It's impossible to be entirely accurate when valuing such a sprawling enterprise but I estimated £10.50 - £11.50. Less than £8 is dismal and I hope IIs and PIs all vote against the offer and the CEO gets the boot.
The game is not over yet. Apollo can ask Takeover Panel to increase its offer and more importantly the big shareholders could reject the bids because the analysts say the fair value is something b/w £10-11.
The BOD of this company should hang their heads in shame, they've now decided to accept a slightly higher (but still laughably bad) offer from Berry for the company.
I sold out when Apollo offer came in and offer my condolences to every PI in here who has been very badly let down by those running the company, they've managed to look after themselves very nicely though....who'd have thought it!
And still no real news from Berry - (Penny in my last comment)
SP up but sells seem to outnumber buys by a considerable amount and why?
Chr
Your choice of course.
Accept the offer £7.82 or sell at £7.93 or just hold.
I sold out @£7.93 because I could not see what Penny were going to do.
Decisions decisions - do what you think is right for you - not the crowd.
Just had may notification from HL about accepting the Apollo offer. I am assuming people are voting not to accept???
It's okay outbidding Apollo by 1p they still need to get shareholder approval. £7.82/£7.83 both rubbish. I've got out today at £7.93. 0% profit for an 18 month investment, still it's better than a loss.
As the Apollo offer is final, Berry only have to offer 1p more to secure RPC BoD approval.
Suspect that Berry are more interested in acquiring bits of RPC rather than the entire company. Berry is already burdened with debt. Putting into play the possibility of a bid may well add negiotating strength to any current discussions they could be having with Apollo about acquiring the bits of RPC that interest them.
tesa
A few pence - not worth the weight and not the wait. Nowt may happen. I have opted out.
Berry Global should be able to go over 800p once have a good look at the books
The last paragraph of this article made me chuckle...
https://www.ft.com/content/76ca2c12-252f-11e9-b329-c7e6ceb5ffdf
"Berry, which supplies products including prescription vials, drinks cups and tapes and generated revenues of $71bn in 2017, was owned by Apollo before it was floated in 2012."
I wonder if the previous buy/selling of Berry will affect the mindset of Apollo?
https://www.marketscreener.com/BERRY-GLOBAL-GROUP-INC-11658375/company/
Interesting when you see the major shareholders in Berry. Some familiar names there.
I would not be overly surprised if we get a 825 to 850pps offer.
Berry can more than afford this and RPC is heavily undervalued.
I am amazed that anyone could (& did) recommend 782pps as credible.
The market is consolidating and RPC is at the top of its game ...
Onwards ...
-- BB --
RNS, The Berry group have asked for due diligence with regards to potentially making an offer.
Could start to get interesting.
Pim Veervat with your £2.5 million and Simon Kesterton with your £1.5 million per year .https://www.reuters.com/finance/stocks/company-officers/RPC.L but you feel you can not take our company forward but are going to go forward with Rome Bidco Ltd then i suspect you do not have the best interest of shareholders at the forefront of your motivation. How on earth can you expect that level of renumeration but absolve yourself from any responsibility. If you can do it for Rome Bidco why can you not do it for RPC? I am a shareholder, i am an employee, i have my pension intertwined with the company.
When RPC bid for bpi Films they already had undertakings of 20.75% of TVRs, I done ever recall the slightest grumbles that the price was too low and it breezed through with 99.93% of votes for.
Don't expect this will be quite as cut and dried.
Still not heard from any of the main owners of the company, except for the negative reception from Aviva.
Could be an extremely costly mistake from the board.
Panmure Gordon - please take a view!
latest £7.82 - PG doing a Jeremy Corbyn!
Results out 1 Feb. That info may assist another suitor.
Two big shareholders, Aviva and Royal Lonon Asset Managers have now expressed their discontent against the bid valuation.
What we need is another bidder.
Surely at this price, there will be one or two companies looking at it.
Heres Hoping.