George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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Re: approach, back in Aug 2016 William rejected a takeover offer (see below). The talk was that William Hill was looking for around 500.
The board of William Hill has unanimously rejected an “opportunistic” £3.6bn takeover bid from casino operator Rank Group and online gambling company 888, arguing it “substantially undervalues” the high street bookmaker.
The two suitors made a joint cash-and-shares proposal worth about 364p a share, which William Hill said represented “a premium of only 16%” to the bookmaker’s share price the day before the consortium signalled its possible offer, when the shares closed at 314p.
If it Bet Fred made an offer now at 200 it would probably get some consideration but they must know their window to move is closing quickly.
This market is not rational, Berkshire Hathaway trades at a pe of 46. Forward pe would be even higher. We are all just guessing about the future share price given that the market seems to want to price shares at crazy multiples. For me, I don't think the market has priced in all the upcoming positive events for WMH and I see it continuing to tend higher above 160 as the stock is derisked further. The August announcement will hopefully be not-as-bad as it could have been and hopefully wmh can demonstrate that revenue is on a path back to normal levels. Given the pent up demand for sports gambling I can see a scenario where the revenue is higher than anticipated when sport comes back. I think the real value in wmh gets unlocked through a spinoff of wmh USA on a us exchange because they seem to price gambling stocks at higher earnings multiples over there. I'm talking 300+ all up in that scenario
I’m with CJ, 160 - 170 once sports back here and US. I think it could be a while before divs are paid again. Once there’re up and running 170+ (IMO). However we only need some US expansion news and/or more buys from fredbet then 200+. An approach would be good but not less than 400. All in my opinion. Saying all that I didn’t we would be where we are now. GLA
Next news expected by WMH will be early to mid August with half year results. It is fair to assume the share price prior to that will be somewhere around 160p?
We’ve had an amazing amount of good news of late. The VAT return, Betfred buying lots of shares, the return of sport a lot earlier than first feared. A very positive trading update a fortnight ago. The growth in America is very appealing. The share price has kept rising and rising but it can’t rise too much further soon, can it?