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Who just paid this, at offer the return would be £325,000, that's a chunk of change!
25-Oct-23 14:31:00 67.35 500,000 Buy* 67.10 67.30 336.75k O
Now 2p+ over offer price, surly something is happening. this isn't usual, Share price usually just sits under the offer price. Last time I saw this was on WMH.
Totally agree, but an increase in offer isn’t out of the question depending on other large shareholders views. Happy to sit and wait.
This will be done and dusted by January maybe another bid but unlikely
in a better private equity environment another bid would be likely
What happens now. We just hover at this SP until deal closes?
After I typed it, I did think that they may have held just under the threshold, but still.
Yup i noticed that. Didn't check the date though. Clearly the investment bank sees a significant zero risk investment that may provide a 10 -15% gain.
Fingers crossed.
Interesting RNS, 5% of the company bought the day after the takeover RNS.
Just shows how Cr@p these broker ratings are.
Nice to Barclays have their eyes on the ball .. lol
And so say all of us
https://www.businesswire.com/news/home/20231015761717/en/TMR-Capital-PTC-Limited’s-View-on-the-Announced-Sale-of-The-Restaurant-Group
I’m wondering and hoping that other major shareholders are discussing is low offer and telling the board their views. If the board knows it’s going to get rejected then they will have to go back to get a better offer. It happened the WMH (still sold on the cheap).
Long positions being opened. Bodes well
Good write in FT today commending Oasis on execution of their strategy. Need another bidder. But who?
I’m voting against (not that it will change things) as posted before 75p min imo.
https://www.dailymail.co.uk/money/markets/article-12630689/Investor-slams-Restaurant-Groups-506m-price-tag.html?ns_mchannel=rss&ns_campaign=1490&ito=1490
In profit : fab. But feeling slightly short changed by offer. Thoughts on a.n.other entering the arena? I’d live with FT suggestion : holders should seek 80p. Oh well lucky Apollo - for now.
The show may not over yet, one of the main activists seems to have opened a short (13.09) whilst others are going long, some reducing positions!
Since the purchase and until B&P came alone Wagamama was the only thing that kept this company solvent, world events have kept this in the doldrums since the ridiculous Covid farce. Its grossly undervalued based on future earnings and the reduction of debt, but who knows what the world gov wants to happen next to destroy business.
If you believed in this company you would have averaged down and made quite a tidy profit of the last few years. 65p is ok but its not great. Waga and B&P are 1billion without debt . but while they are knocking lumps out of each other all over the world you are not getting that.
Jesus sold for 10pc of their high around 2015 I think, another U.K. dog investment to go with all the other capital destructive shxt the indexes are full of…rule, never buy anything from Private Equity, they overpaid for Wagamama and the debt level incurred has fxcked them ever since.
I am a bit shocked and surprised at an offer at any price by Apollo Global Management after their diasterous foray into bottom end "dining" with Chuck E. Cheese in 2014. I rate the Global Management: but I suppose they are entitled to the occasional bad move. I do hope somebody makes a higher bid!
AceOfClubs
However, Liberum analysts said “it could be argued that a c30% premium is low in this market, we expect it to be successful due to the cash structure, activist shareholder support, helped by recently market turmoil”.
The broker did seem to be confident that the 65p per share offer is not the final chapter in the saga, instead targeting a 75p share price for the stock
Another Article!
Proactive Investors - Wagamama-owner The Restaurant Group PLC (LON:RTN) could be poised to receive another bid after the takeover offer of 65p per share from Apollo Funds, was deemed too low by some analysts and investors.
Depressingly cheap. Back in profit for me, but only just. Looks to me like a BOD with little confidence for the future, who have bottled it. Shame.
Oasis have accepted the offer so I am out
I wonder what Oasis will do now as their prize is getting taken away, will the counter or take money and go!