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Haven't been able to find anything more via Google but these things can take a long time- CVR's reverse takeover of Matthew Clark took 2 months. Just hope they don't drop any more sales balls during negotiations - can do without another Chile killing the SP. On the upside, surely must be due some Hypocat news soon ? Plenty of other good stuff inside BMK that has potential to drive growth and fill up the buckets with shiny coins...
...waiting for new on this one. I hope they get it sorted soon!
So, if they pay $350m, then that's around 10% more than their current mkt cap, and hence would be a reverse takeover. Interestingly, with sales of $190mn, INVE is actually 2.5x bigger than BMK on this basis. We don't know about the earnings, but there's a good chance that if the deal is done through issuing BMK shares, it would actually be EPS accretive. Now, before we get too excited, note that there are two (much larger) firms also bidding!
Found this on thefishsite (got to be careful how you say that...!) UK - Benchmark Holdings Plc, has confirmed it's among the bidders looking to acquire fish nutrition firm INVE Aquaculture NV from Royal Bank of Scotland Plc and Rabobank. According to industry reports, Mitsui & Co. and Nutreco NV are also in the frame.RBS and Rabobank are working with Rothschild on the private sale of INVE which may fetch up to $350 million Bloomberg reported. Talks are said to be at an advanced stage. INVE, which has turnover of $190 million, was founded in 1983, Breda, Netherlands, and produces nutrition and health products for fish and shrimp hatcheries and farms in more than 70 countries. Under AIM rules trading in Benchmark's shares were suspended Thursday as the potential acquisition would constitute a reverse takeover. The shares will remain suspended until such time as an admission document is published or the talks otherwise conclude, the company said. - See more at: http://www.thefishsite.com/fishnews/26541/benchmark-holdings-contemples-potential-acquisition-of-inve-aquaculture-holding/#sthash.2wwAc5Ts.dpuf
Found this from earlier this year, but it doesn't add up financially to make it a reverse t/o - too small based on BMK current mkt cap: Must be missing something..... (SeeNews) - Jan 7, 2015 - Dutch financial services provider Rabobank and UK'sA Royal Bank of Scotland Group plc (LON:RBS) are expected to launch the sale of Belgian feed producers INVE Aquaculture and Nutriad during the first half of this year, Mergermarket reported citing industry and banking sources. The two sister companies once operated under the umbrella of INVE Holding, which was taken over by Rabobank and RBS last year as part of a debt-for-equity swap. Following the EUR-47-million (USD 56m) deal, the banks transformed INVE and Nutriad into separate legal entities to expediteA their divestment, Mergermarket said. Since Rabobank and RBS were reluctant to take control, they are looking to quickly exitA INVE and Nutriad, three sources told Mergermarket. Nevertheless, the banks have proved good custodians: under their ownership, the two Belgian companies have experienced a revival and will be attractive assets to acquire, one industry sourceA noted. INVE and Nutriad have combined EBITDA of around EUR 30 million. INVE specialises in food ingredients and supplements for fish farms, while Nutriad deals mostly in livestock and poultry feed. Their anticipated sale has sparked the interest of trade buyers and financial investors. A person close to the vendor camp told Mergermarket that the Belgian enterprises should draw the attention of industry players and private equity groups alike, adding that the companies are aabsolutely strategic assets.a The sources listed several industry representatives that would be expected to make a move. Among them is US agribusiness conglomerate Cargill Inc, which would benefit from the targets' know-how. INVE and Nutriad are also likely to attract the attention of Dutch sector players Nutreco NV and ORFFA, Mergermarket was told.
Yes it is private - a Belgian company with a BV suffix, same as .ltd in the UK. Possible cause for concern if essentially it's a private equity company selling out to a PLC....... but we're in for the ride now regardless.
New RNS. Company in question is INVE Aquaculture. Trying to find some financials, but proving challenging as I think it's a private company.
Am trying to find out which co. the "speculation" refers to, but no luck yet. Think it will be a lengthy suspension given the statement "The biotechnology company said trading in its shares will be suspended until an admission document is published in relation to the potential acquisition, or the talks otherwise conclude." Their acquisitions so far have been tactically good, if yet to generate earnings increase, but will this mean more eyes-off-the-ball and further sales issues ? Having met the top team several times now I remain a believer - just - so await news with real interest.
Very interesting RNS at 12.15 - Stock has been suspended due to a potential acquisition which is of a size that might make it a reverse takeover . I read that as BMK looking to buy a Company which is actually bigger than itself. Looks like a gamechanger, but will it be taken positively, or negatively by the market. No indication as yet as to when the stock might restart trading.
whilst I do like the stock long term, they do have some short term issues, and the stock has now risen back to its pre-profit warning level - could be worth trimming?
60% in a month - not bad at all. Question now is whether to sell some......
Yep the Midas tips do u usually do very well the next day Atb
Seems like Midas has some sway here then! Up more than 10%. Seems like only a few weeks ago I was buying this in the 60s. Oh wait a minute, it was! hurrah!!
Recd in Midas mail tips over weekend Should see further rise tomorrow
It's coming back slowly. At this rate we will soon reach the price I paid back in March before the bad news hit the price. Rgds
New acquisition consistent with strategy, plus salmosan volumes recovered. Worth adding here I think.
Clearly going to be a rocky ride until we get some hard data on just how painful the salmonsan episode has been. Hold fast chaps!!
Agree, this provides more comfort, and explains the two trade of a million shares which went through on Weds last week. Of course, like all investors, he doesn't get everything right, but clearly his investment was/is focused on the new aquaculture products rather than the existing/legacy ones.
Assuming you are a shareholder, here are the details for you: Benchmark Hlgs PLC RNS Number : 8667L Benchmark Holdings PLC 30 April 2015 3. Full name of person(s) subject to the notification obligation: Woodford Investment Management LLP ("Woodford") 8. Notified details: A: Voting rights attached to shares Situation previous to the triggering transaction: Number of Shares- 33,916,604 Number of Voting Rights- 33,916,604 Resulting situation after the triggering transaction: Number of Shares- 36,109,402 Number of Voting Rights- 36,109,402 % of voting rights - 16.5%
made my day
For those who might not have seen the RNS, Neil Woodford has bought more stock in BMK and at a very nice price too. It would appear that he is confident in this stock, which is reassuring for smaller investors.
I'm a buyer, but am holding off to see whether I can pick some up in the low 70s (which it hit first thing but then bounced). I see about 1mn shares were traded half an hour ago which is a significant amount of the free float which is interesting......
Yes, poor news. Personally I am just going to wait it out. Have no interest in selling in the 70's and taking a loss.
Bad RNS this morning - Sales of salmonsan sea lice treatment hit by generic competition. Long term story looks intact, but earnings this year to be 'significantly below market expectations'. Going to hit the stock hard today - currently down a third.
Feels pretty good so far, up at 105p, and threatening 110p on a few occasions. Hopefully on a slow drift back into the 120s!