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I very grateful for this but the timing sucks for me, I’m off on holiday in the morning. I’ve now got to start logging in while away and hope it doesn’t all go wrong. I hate stop losses but I fear in this case I have no choice.
About 1.33 per share, if 888 really want this we could see 1.40 with any luck. Far more than I would have expected to honest.
£1.1bn + Shares...
jacksparrow The phrase penned by a reporter of around £1bn is not a bid at £1bn. Even if an offer at £1bn were to be tabled, it'd be discounted on the basis that for whatever reason it may not proceed. The price would jump if a deal was proposed at say £1.20 a share, however, neither of the potentail bidders who have shown interest over the last few days have quoted any figures.One suspects that they may be keeping their powder dry at least until someone actually nails their colours to the mast and quotes an actual offer price.
Starting to take off now. Up 12.52% at 9.23am. Will be interesting to see if there is any lunchtime comment from media.
music go to 888 they have an RNS out cat
At current SP, market cap of bwin is 900 million, but 888s bid itself is around 1bn, so shouldn't the stock price increase till the market cap is 1bn or have I missed something here?
It only popped up by 5%.. while 888 shares are down by 5% Looks very tough to reach120
Was talking about INC about to be de-listed
RNS often show late on here - they must have dealt the final blow by now
The upward spike in the morning should be significant and even more so if 888 release an RNS. Monday should indeed be a fantastic day for holders here. Congrats again to all holders who shall now . it seems, at long last gain a suitable exit or look forward to owninh shares in a much better managed business. I feel that i was mistaken and that £1.20 must now surely be surpassed. 888's bid, shall force other bidders out into the open if indeed there are any.
This should fly tomorrow. I wouldn't be surprised to see it around 120+
Or even a 'bidding' war. Got over excited!
If this turns out to be true its fantastic news, nothing like a biding war to up the price. Thanks shoeman.
Yes it is indeed all good on Friday afternoon isn't it. Whilst I am never going to sugar coat anything to do with share I did detail my thoughts on why this was a fair investment at the time in posts dated 11th and 12th March and articulated my reasoning at the time. I praise where I feel it is warranted and criticise in equal measure where it is not. There has been little to praise here. Have a good weekend.
Yep, very happy with today, looking like that £1 is on the cards. Nice starting point for next week....Have a great weekend all.
I think that you are almost definetly right. There appears to be sustained upward pressure and the £1 barrier will almost ceratinly be broken today. Given the freshness of the news I'd hold over the weekend though. Wingnutter, if this ever got to 60p it would be dead to anyone with a brain. I purchased in early March at 78p as I felt at that time the risk reward had fallen in the buyers favour. As for £1.20 I think that this is a stretch but would be pleased for you all if you held out and got that. The reason i do not see it is that as far as i can see there is no competitve bidding in place to drive the price up.
For sure this is a very confusing time...to hold or to sell...during the last rumour driven jump folks held on as they expected 1.35...and we ended up at 80...not sure where we will end up this time...north of a quid I will be tempted to wash my hands off this whole business
Check the pattern when WH put a bid in for 888. It might help give you a rough idea of direction in regard to the SP.
Spring owl put £50M into this at around 1.23, I think it would be a very hard sell to get them to agree to a sale price short of that. A 50M investment for a year with no return may be acceptable to them but no less surely? This may explain the term ‘revised offer from GVC’. Allowing for the divi they received this would create a red line of about 1.17 for them.
If you‘re out north of a quid you may find today is the day to sell as I feel this will close at £1 plus today. The US premarket is going to kick in soon and the price should go up some more I hope.
Maltaproperty has made an excellent point too. The reaction of GVC holders to the adoption of this pretty toxic much larger organisation at an acquisition value of the thick end of a billion pounds will be very telling.
jackparrow, The SP has, in all fairness, risen markedly from 80p or so over recent weeks so there has been around a 20% uplift albeit not in a quick spike. The seemingly unwarranted and sustained rise over recent weeks was perhaps not as closely guarded a secret as it ought to have been. As ever. the devil will be in the detail, and the chance of the collapse, or further delays, in any talks is perhaps built into the expectations already. FWIW, my own view is that there is not much chance of a significant premium and at anything north of a quid I'd not be hanging around too long. There is no auction for this and if GVC tabled any reasonable bid - I think the majority of investors would be minded to accept rather than carrying on with the current incumbents. The other thing is that this is perhaps unlikely to be a full cash offer and paper may be involved. Would the prospects of GVC & Bwin together be all that much better or exciting to the market.? Given the last debacle involving Bwin merging; the market will surely be sceptical. This is very hard to call at the moment.