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I took a punt in these about 90p but only a tiny volume
Like a 1000 shares, but this latest news of preferred buyer pulling out is bad news.
I hold regardless but I’m expecting a low offer from any others .. GL all
Expecting this to settle around 122 p before next announcement. - we shall see.
LOL.
some people just were not informed enough about this. or misunderstood what was going on.
the board repeatedly noted the value gap between existing bids and their expectations.
That's standard procedure for the "formal Sale process" TED are in- what you don't do is expect people to waste a lot of money on DD when not in a formal sale process.
Well Steve what about this bit.
The Board of Ted Baker reserves the right to alter or terminate the process at any time and in such cases will make an announcement as appropriate. The Board of Ted Baker also reserves the right to reject any approach or terminate discussions with any interested party at any time.
Board members were quoted in reputable media saying more than that. Your comments are out of context.
What part of the RNS and the last one entitled Update on formal sale process" and the second line in the RNS SAYS "update on formal sale process" makes you think it's not a formal sale process?
So they thought I know, I'll waste all out management time and that of bidder in expensive DD process...
As I said earlier today there would be a bounce.The share price has now recouped some of its losses and most probably continue to do so for the rest of the day.I would assume that one of the other bidders or a new one will come out over the next few days
From 18th March RNS
Ted Baker PLC
Response to the announcement from Sycamore Partners Management L.P.
The Board of Ted Baker PLC ("Ted Baker" or the "Company") notes the announcement by Sycamore Partners Management L.P. ("Sycamore") confirming that it is in the early stages of considering making a possible cash offer for the Company. Ted Baker confirms that it has not received any approach from Sycamore.
At no stage did Ted announce it was looking for a buy out so they never put themselves up for sale but received offers out of the blue . That's my point they are not desperate to sell as ( put themselves up for sale implies)
100% up for sale.
But this is not a fire sale so price will always be a premium on SP.
They do not need to sell.
Peter, I have to disagree , what is a FSP if it is not the company putting itself up for sale?
And that is exactly what has happened.
I don't think the Statements were misleading at all.
The board made it clear from the outset the process was an exercise in thoroughness to properly evaluate all options as an exercise, it was also made repeatedly clear that the board had clear expectations around valuation.
Investor speculation then begun that the buy out offer would be made at a premium to the current Share price, without any explanation why this would be an appropriate valuation.
As I have repeatedly highlighted the board have expectations & may simply reject all offers in this exercise.
I think you are wrong.The year before Covid they had a clearout.In the last year losses halved and turnover went up.I think there has been too much play about what the future holds.Up to now with the exception of petrol there has been hardly any effect on peoples expenditure.For instance if you were one of the 80% who got the £150 then as it is summer you would have yet spent that on the increases.In July is the NI cut and towards the end of the year there are a number of measures coming in.Also whatever happens in October for this financial year the increase is really only half the amount shown.People are still in Jobs and many of Teds Customers will not be affected
114p bang on or what! *pats self on back*
On Ian King this morning he as lots of other brokers and advisors keep saying that Ted Baker put itself up for sale.
This is simply not true they were approached by sycamore with an offer then others joined in hoping to get a bargain.
The board turned down their derisory offers and now they cant get them on the cheap they are backing out.
All the while Tosca and others are getting lots of more shares on the cheap they obviously recognise the value of TED
Retail street fashion doesn't feel very well during recessions or any economical turbulences, that's why during last 3 years (including pre-covid year) financial results sustainably show losses. With amount of intangibles and other ghost value asset classes on balance sheet TO is very unlikely to go over 80-90m.
IMO - they will be loss-making for at least next couple of years.
More buys than sells its on its way back up to where it should be.As I said earlier there is no reason for this share to be at this level when it was over £1.6 last year before its recovery started
114p hit. as posted earlier resistance here.
Taverham: had to laugh at that but behind the humour there may be some truth in that comment.
IMO buys starting to come in still quite low turnover.Just hope BOD have learnt their lesson as their handling of this deal has been quite apalling.The Share currently is undervalued and again I think that most probably it will end the day at over 120 as it has been oversold at this level
Whatever happens Mike Ashley will buy the company at a give away price!
sounds all very wishful thinking luckystar11.
sp got a bounce up to 111p. see if it holds this level.
The norm applies here- don't sell now after the drop unless you have too.
We don't know the reason for the failure other than what is in the RNS, the board clearly didn't like the make-up of the deal or the final price- they didn't back out, the bidder did, so the board were firm on their requirements, which were not acceptable to the bidder or the bidder had a change of heart for some reason other than the DD process.
Other bidders may come back and if The Board deem good enough, the price will jump from here else if not, the recent few RNS' demonstrate improvement and turnaround from the very low days- just hold from me, as clearly the Board and company is not in poor shape and doesn't have to be sold.
Dear All !
That is my opinion.
Toscafund still buy the shares.
I already mentioned the following, tosca average price is over 150 (My calculation, just my guess), so can't accept 162.(300m) .
If I am a toscafund, I want to shake the stock prices then buy again and again. Major shareholder(MUTUAL FUND AND INSTITUTIONS of TED) already got 87%.
My feeling(My thoughts on), Toscafund wants to buy ted. Major holder already knew the broken deal, however the Tosca still buy it. Why ?
After today, you can't buy this price.