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I am wondering with that sudden jump if there is a counter bid in the offing? Whatever 880p is far too cheap for this company and it will go for more than that.
Can't find any info on what caused todays jump, prob just the rumour mill or twitter or summat...? The fact that it's hesitating around 880 suggests to me that it's related to the existing bid, allthough that might still flush out a counter offer. Hopefully the rumour has substance and even more hopefull that we might get more than 880...
Hope we get one - directors have a very small holding so a counter bidder count easily win over the shareholders here.
I consider 880p too cheap. I think another bidder is sitting in the wings and will emerge very soon.
I agree and with the sp above the offer price the market also thinks another bidder will emerge.
Given the oil price is rising , that market like the others is improving which adds to the prospects for greater returns by any purchaser - hopefully something will happen next week. Btw i could not see any reference to the bidder reserving its right to raise its bid which is unusual.
March 5 (Reuters) - Equipment rental company Aggreko said on Friday it was recommending a 2.32 billion pound ($3.22 billion) buyout offer from private equity firms TDR Capital LLP and I Squared Capital.
The British company said the offer of 880 pence per share represents a premium of about 39% to its shares' closing price on Feb. 4, a day before the offer was first tabled.
Demand for Aggreko's rental power and loading equipment has dipped due to the coronavirus-driven cancellation of public events, halving the company's annual profit and wiping a quarter of its market value in 2020.
"The Aggreko board believes that the offer ... represents an attractive price in cash that fairly recognises Aggreko's future prospects," Chairman Ken Hanna said.
Under UK takeover rules, the consortium of TDR Capital and I Squared Capital had until March 5 to announce a definite offer for Glasgow, Scotland-based Aggreko.
The private equity firms made the offer for Aggreko, which has a contract to supply power equipment for Tokyo Olympic and Paralympic Games, under a newly formed firm called Albion Acquisitions.
Peel Hunt analysts said they do not foresee a competing or higher offer despite some recent speculation as TDR Capital has "a strong record in this sector."
Think i'll take my profits and run! GLA
the offer doesn't even allow me to break even-does t sound likely there might be a competing offer