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under the matress !!!
RNS :
Commercial discussions and due diligence are progressing with TAM. As a consequence, and in accordance with Rule 2.6(c) of the Code, the board of directors of TalkTalk has requested that the Panel on Takeovers and Mergers (the "Panel") extends the deadline referred to above.
Accordingly, an extension has been granted by the Panel and TAM must, by no later than 5.00 p.m. on 3 December 2020, either announce a firm intention to make an offer 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.
This deadline will only be extended further with the consent of the Panel, in accordance with Rule 2.6(c) of the Code.
There can be no certainty that a firm offer will be made for the Company by TAM even if the pre-condition stated in the 2.4 Announcement is satisfied or waived.
With all the problems in America ,and world instability I decided to sell this afternoon, and got 95.9p nett .The problem is now where to put it.
They’re probably waiting to see how markets look post US elections (even though it’s a U.K. biz I know )
i maybe wrong theres a late 1 million pound buy ??
Sold today , i dont think this buyout is going to happen, and the cat is out the bag hence steady decline in SP.
Hope for holders deal goes through and note strong BT results. I sold a few days ago at 99 as it's dragging on and also with market falling maybe that impacts bid price. But could live to regret it!
" I remember when Talk Talk was about £4. This offer should be rejected outright."
Since then of course Dunstone was all too happy to take out millions and millions of pounds in dividend payments and load up the debt levels...... the dividend has largely been reduced , down to 2.5p over a whole year , for now, and the debt just gets re-negotiated and new bonds appear ...net debt £775m and then £179m leases on top ...
..with year end book shareholder equity showing as £406m, the MCAP @97p is almost treble that at £1.1 billion..so even at 97p there is a premium for the dividend and an expectation of further earnings growth built in
The days of £4 are long gone until the debts come down and the dividend can go back up.... maybe Toscafund believes they can achieve that , but BT are looking to get the likes of TalkTalk to pay up for the investments they are making through Openreach .....the CEO has probably been told by Dunstone to speak up and say how evil BT are , in order to justify his current negotiating position ... no doubt it will be a last minute RNS to say, "yey or ney, much like the Brexit Stand off ! "
Interesting to see how the "Deal or No Deal" pans out .... deadline for an offer to be made is currently "not later than 5.00 p.m. on 5 November 2020" ..
135p offered pre covid isnt going to get the same offer now which includes all the covid risks for the same price...no way and Dunstone knows it ...so.. are they looking at say 105p-110p-115p ?
anyone any ideas which way this will go? if this is rejected this will bomb!!
When is trading update, must be soon?
Interesting to see RNS with institutional interest. If Dunstone gets stock for stock, plus a healthy bonus for transition, and he and some of the talk BoD either stay on, while others get parachute payments, this offer may well fly aw is. That said I am hoping for a good top up to this.
I need £2.51 just to break even - they can swivel
As a customer and shareholder for 4 years the level of service has hugely improved and this should be reflected in the share price over time as customers realise that the broadband is much better than before. I am holding as I expect the price to rise as Dunstone and/or other bidders raise their offers.
Talk Talk should benefit significantly as Bt raises its prices in the coming months
to pay for its financial commitments particularly the roll out of full fibre .
The low bid is an opportunistic attempt to buy at the bottom of the current cycle.
I remember when Talk Talk was about £4. This offer should be rejected outright. It is a stock that is suited by the present day pandemic. Although I would make a gain it would be far less than its worth.
Should be 130 at least, cheeky offer that Sir Charles will likely reject.
Look at G4S, it is trading much higher than 190p offer. William Hill was also trading higher than takeover price. 97p isn't enough for Talktalk. Its a broadband company and a fundamentally strong business, every needs broadband in these Corona times, more than ever! Customers are willing to upgrade even.
I am surprised CD didn't try take back private for himseld when the sp was in teh 70s
Well i was right the bid is finally in, am not sure Charles Dunston is going to let go of his baby just like that though! i think this stock has legs yet and am holding on at the moment, we may even see a third party now its hit the headlines DYOR
It boils down to Sir Charles Dunstone agreeing the terms and price before any formal offer is made..if he cant agree with TAM then nothing will happen....so..you have to think that the agreement will be mid way price between 97p of TAM and whatever SCD has as an upper level...
Somebody is taking a punt that the final offer will be higher Than 97p which has An obvious element of risk.
Hahaa
Volcano is right, I followed the money here. Now not sure if to hold, sell or top slice....
Seems like a low ball offer to get something happening......
Think they’re fed up sitting on this investment which has been going nowhere
so thought we’ll give it a go or push possible other bidders into action.
Time will tell but interesting play!
well done :)