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Gewellia
The very best of health to you and well done to those here where the yankee has come in and still the chance of a jackpot
I should have followed you in here ! Your prediction of the suicide in instalments backed up with all the facts by INTU unfortunately for some were bang on the money . Threw my toys out of the pram sometime ago on a dispute with Hills on a bet so missed out on the party !
Be interested to hear your views on RLE- Real Estate Investors where I seem to be a lone voice
I wonder what Edward Erdman (if still alive) who must have had some involvement with Hills via Charles Clore would be thinking today on whats happening on the High Street
Just seen two new hedge funds climb on board the shareholders list via the 8.3s.....and both been adding shares above the 272 level also....good news I guess?
I must admit that I am not really 'au fait' with regard to the takeover rules.
I have only just taken note of some of the requirements following all the Form 8.3 and 8.5 notifications during the recent (failed) AA bid, so not aware of any Director obligations in this regard.
I often find the FCA rules a minefield of conflicting information, despite having a working knowledge of a lot of the various rules, but I can't see anything specific to Director obligations in the Takeover Code. I am sure there must be some restrictions in place as to what they can or cannot say/do, though, hence the need to appoint an independent adviser.
Crocqman, I’m with you nothing official from WMH. How about this as a thought, the board wants to keep it as is, or a JV. However, they also want to keep Caesars sweet by going along with them, knowing from talks with big shareholders that it will be rejected. On rejection they can say to Caesars “well we were supporting your proposal”.
Unless, under takeover rules they are not allowed to say anything until other proposals have been considered and rejected?
The lack of any real comment (other than in the RNS) from the bod over the past 5 days is quite mystifying, really.
Also, I would have expected to hear some comments for/against this deal from the larger shareholders, or some high profile Fund Managers - perhaps they are holding fire until the vote is announced before letting the market know their position on this deal?
The media both here and in the U.S. all seem to be reporting as this is done and dusted though
Was lucky to sell a few at 292 last Friday, and was hoping for something nearer 400 on any bid. Will give this until next Friday for some updates, or further developments before deciding whther to sell the remainder of my position.
Lets hope for something concrete, if not today, then over the weekend
gla
i think there must be another bid being worked out .strange share trading like this .
I honestly think with the share dropping to 38 and then getting a offer of 272 within 6 months they thought there might b a few ripples , but with all the moves forward since then USA included and analyst saying under valued And obviously they can see share holders are pxxxed off , it’s not going how they expected, when proposed take over bid came in at 272 it was a poor price then looking a absolute joke today ,I don’t know if it’s normal with take over shares to trade like they are , more fascinating every day
I was reading an article last night (i think a fool) and it said the board has excepted the offer and recommended to the Shareholders. Hmm, still not seen any communication from WMH board. I wonder if they also feel that they are benign played?
My first share as you know , and I just thought yea I will put some money in after tip off , before I started shares I thought (boring) but know I love it can’t get enough lol
Iangibbens it's great isn't it I learn something new most days definitely some experience to be gained from the comments.
The standard of knowledge from the group of people on here is unbelievable, iam well out of my death
, the one good thing as far as Iam concerned is that I think they are still holding this share
Hi Gewilla, I think you may be making a leap with regards the 8.5s....though please correct me if im wrong....As these banks facilitate orders in wmh via their IB desks where they are acting as agent, they are obliged to report every transaction for every client they cover (over 3,000 for most bigger IBs)). For example if a big fund like schroders or whoever sells shares, they usually do it via a bank as they dont have access to exchanges drectly whereas the banks do, however as the banks can also be acting for involved parties they have to report everything to avoid any doubts.......Hence, tho the IB corporate teams may have links to Apollo or CZR or even WMH, it doesnt necessarily (tho of course it can sometimes) mean that every trade is for that client. This explains why you often see large buys and sells for IBs....note citi, sg, etc all on the rns's in the case of wmh most days, as they may have some funds buying and some selling on the same day,....this is just normal client facilitation. The reason the rule 8.3s are interesting to me (maybe im very sad!) is you get more insight into what specific funds are doing - because all those funds with holdings of a certain threshold also HAVE to report when they buy or sell....as i mentioned earlier, i have only noticed funds selling down, which seemed strange to me, so was wondering if i had missed smthg....pls do not take this answer as me being condescending etc, everyone's view is as valid as mine and I appreciate them all - you had just asked for 'answers on a postcard'....so i gave it a stab for you
Are they amassing shares for a no vote in your opinion ? I'm seriously interested in your opinion
Omg gewilla your a pro trader I'm guessing but your still involved so I'm guessing it's a positive please enlighten me I'm a good apprentice xxxx
Andrew, thank you for giving me something to do this evening. Actually, I was already taking a boo at 8.5's. These are the really interesting cousin of the 8.3's. 8.5's have to be completed by any traders who are involved in the deal itself.
Guess who appears at 4.20pm this aft - Goldbum Sachs, the monster squid, and who are they acting for? - Apollo International Management LLP!!, who may or may not be going to make an offer. So tracing this back to last Friday, we find:
GS buying an initial 6 million shares at 312.20 and selling 12 million at 312.8p. IOW, a massive short, of a net 6 million WMH, on behalf of Apollo.
Then on Monday, Barclays and Deutsche Bank are trading on behalf of WMH, north of £3. Again selling more than they're buying. But the big fish is Debit Suisse, joining the party at 12.01, disclosing purchases of 19 million and sales of 21 million on the previous Friday. And their client is Apollo too! With another net 2 million short.
GS are back in Monday, increasing their short by a net 1 million.
Now I make no pretence to understand what Apollo are up to, but they appear to be up to something. It seems to be an attempt to bring down the SP, but what do I know? Maybe they think they can turn a profit by selling at over £3 and then closing that short at £2.72 thanks to Caesar's bid dropping the price, but this is penny-ante stuff for Apollo - 30p x 6 or 7 million shares barely takes their board out to lunch.
And so to the last entry at 4.20 today, where GS disclosed trades of 5 million long and 4.8 million short yesterday.
Does anyone understand what all this means? Answers on a dirty postcard to this column, please.
Is anyone keeping track of the rule 8.3s on newswires here? Of the bigger holders, seems a few like Silchester, Schroders and Greenvale selling a few clips, but no monster prints really, and I did not see any new holders have to publish yet? Which doesnt really tie in with the extremely decent volume printing across exchanges daily - Am i missing anything? Thanks in advance all