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Are you saying more interest and posts/press - a takeover is more likely to happen? Or is the thought process it’s a done deal? As you correctly say there are a few similarities to other takeovers and also the way Tosca have built stakes in companies before taking all the pie themselves
It was commented that the lack of posts is low and they are quite right. I can't believe there hasn't been more interest from investors. I remember being in Laird (again few posts) and there are quite a few similarities as they did a rights issue and were on course of turning the ship around and then not too long after were taken over. Even the lack of reporting by the financial press is rather baffling.
How about Ray's 11.8%. He is the founder after all and will probably still want a piece of the pie. I think that Tosca and Ray are the two which will decide the fate of Ted if they are to bought out by them, Taken over by another or to simply carry on as they have been. I very much doubt the share price would have gone down so much without intervention from the hedge funds in the first place. Note Voleon have reduced their short to 0.35%.
I would recommend that all holders here read one of the many available guides to UK takeover rules available ,this is a useful example
https://www.burges-salmon.com/news-and-insight/publications/guide-to-public-takeovers-in-the-uk#announcement-obligations
In this case a potential takeover by Sycamore(or anyone else) will be tricky because if you look at the holdings RNS's published on 21 mar, you will see
Tosca 27.6%
Schroders 12.6 %
Threadneedle 9.6%
those add up to 49.8% of the company and to go "unconditional" a bidder must achieve over 50% of holders acceptance.
Thus the three major holders have Sycamore (or anyone else) by the ba**s,if, in the improbable!!! event, that they act in concert.
Whatever I or the rest of us think, a takeover will only suceed if the three key players wish it so, and that means IMO that we are talking of a very substantial bid premium , I don't do guesses 'cos they are worthless, but my expectation would be for a bid premium of the order of 60/80%( or more) from last weeks SP level. It should also be apparent that Sycamore knew all this before they started serious due diligence and thus its a big premium or no bid.
The other factor is that Sycamore must " put up or shut up" within 28 days of the news breaking, unless another bidder emerges.
Finally , to repeat , read a summary of the takeover code so that you understand what's going on .
At what stage would Tosca go above the 30% ownership mark? Be interesting to see when that happened when they took talk talk - they haven’t got much wriggle room left now after their last couple of purchases
They were over 170 just back in September.
I think any sensible offer would have to be higher than that.
if it gets passed 1.36 this could be on the move to £1.50, i suspect this rise will die out mid day, lets see
I can't see 150 being taken seriously by the bod.
That's the short of it. A lot less than the $1.5Bn Tosca shelled out for Talk talk...
I see the price is rising, still excited ??
That would cost them the thick end of £250m then? Allow them to own and continue the turnaround and re-list sell on an a much higher price.
I cannot help what investors bought this stock for I was just lucky it was at a low price when I bought it Itold my partner to buy it at 83 just before the news broke I just hope if it is going to be taken over I hope all investors make money good luck to one and all. Me I hope it stays a Plc
Well that is good for you but there will be a lot of shareholders whom have a breakeven at much higher prices including the major shareholder, Tosca. Like I have said previously I wouldn't be surprised if they trump the Sycamore bid with Ray. With regards to this scenario they would have to buy back approximately 110m shares. They could continue the turnaround plan for a few years and then re-list at a much higher price.
125 is my break even number that’s why I was happy with that
Sadan - It wasn't that long ago that you said you would be happy with 125. You must be more than happy that they are 129 at the moment.
They will be worth more than 200 when they have a turnover over 500m and an operating margin over 10% which is easily achievable in the near term.
Luxury brands have a premium. There isn't one here. This is undervalued and the price has been pushed down for a takeover.
One of the largest holders average is not far under £2, would be unlikely to go ahead I.E a bid accepted at sub £2 but who knows. I would suspect £2.25 is where it will be at but that's just my 2 pence worth DYOR
I hold and wait for news
Can I ask why do you think £2+
patience with this one - if serious offers come its £2+ - i was holding these anyway in anticipation of next results , i think Ted has turned around and the future is bright no matter what offers do or do not come in .
Lets see what today brings, be nice for a bid to come later friday if its going to happen but suspect we will not get any news for a week or so yet.
Looking for that tick up today into the 130's
Enq is such a brilliant share to trade as well. I’m waiting for 30p and will take half off at least.
There is literally no downside with ted at this level, just read the last update and I honestly believe this should be £1.50 minimum without the news from sycamore.
I personally don’t want a bid as I can see £5 plus in the next 1-3 years as a standalone company.
BTFATH:
I’ve been buying EnQuest for a couple of weeks ahead of their announcement on Thursday this week. I’m excited about that as well as Ted Baker.
Great post sustain and its mesmerising how this is not on the radar for many investors.
The sp should be at the 1.50 level without this approach.
I’m continuing to load up on this and enquest.
Expecting a sustained move upwards here by close of play Friday.
And one more just to show we have more messages now than RNSs' :)
Just sitting here waiting for the RNS to say an offer has been made for 3.50 GBP per share..... lol.
Due to the decline over recent years I think many 'investors' got bored and moved on. Having said that with what could be a bidding war between two parties and the SP lingering I'm suprised more have not jumped in at these levels. Was thinking we would reach 1.50 easy by now.