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... goodbye & and welcome the future, it can only be better, I hope
Hi RP, Option 1 - Is it kind of unimportant what price GVC shares are as long as you can buy B-Win cheap like 126p because then you are getting GCV only for only 437p [@126p BWIN = 25p cash 101p / 0.231]. Current buy price GVC 454p..............So a nice return in less than 1 week. (Also GVC move to the FTSE 250 1st Feb from AIM opening them up to more institutional buyers and fund managers that are prevented from AIM trading (I get that looking at what an Sh*t Pot market AIM is these days).
I hold BP shares... option 1 / basic: (25pence + 0.231 of a new GVC share) What price will we get 0.231 of GVC shares? currently it is at 4.62 but is it the price on Feb 1? how do we know. option 2 / share alternative: how many GVC shares do I get for a BP share, at what rate?
I have elected to take the basic offer--You can always use the cash element to buy more GVC shares at the time of completion ie.4th/5th Feb. If you elect option 3 you will pay for the extra shares the quoted price at the time.
looking at our options i think the best options is take full advantage of cvc shares instead of taking part cash whats other investors thoughs on this matter
Thanks guys - appreciate the help
I think the offer price was based on the price of GVC and BPTY at that time. Both shares prices have risen since then. Going on today's prices, for example if you owned a 1000 shares in BPTY. Selling them today would give 1297 (1000 * 1.297) On takeover your shares would effectively be worth around 1337. 250 in cash (0.25 * 1000) + 1087 in value from 231 shares in GVC at 470.54 (Based on 0.231 of GVC share per BPTY share). Hope that helps.
You would loose the 25p cash that will be paid around the 1st Feb at the time you get .231 GVC shares for each of your Bpty shares--BPTY shares currently are therefore worth around 135p--ie 110p plus 25p cash
Advice please. The offer price from GVC is around 1.17 so surely it is better to sell now around 1.30 than wait for the takeover? Am I reading this right?
Forecast*
A big change in consensus, 65p to 159p..
Citi just upgraded this to buy - http://www.risersandfallers.com/2015/12/16/bwin-party-digital-entertainment-plc-upgraded-to-buy-by-citigroup/
Slowly slowly - ok for me
I don't know if you look at it from the perspective of a GVC investor then being in the big leauge based on past performances on the Aim equals more money. But as a bwinparty investor things haven't been too rosey. So naturally there's a lot more pessimism. Also a lot of changes in the sector, megers and in general overall caution in the markets. For me its a case of finding a low entrance point. And making a judgement based on the facts avalible. I believe the directors of Gvc bought heavily into their own company when news of the Meter was announced. So at least that shows commitment. Henderson having a position of 5% of GVC only a small increase in price represents massive profits. Fingers crossed Bruce.
Yes even i got a call now...and told i will vote no. Value is gone and so many big risks here.
It is interesting that Henderson have this week taken a stake just shy of 5% in GVC; that is prior to them listing on the big board. There has been a lot of misplaced disparagement on the III board but LSE investors (including me) are more positive. GLA when the merger takes place.
Great article and a very well thought out position. IMHO, It's a little unfair on GVC but it does highlight the obvious difficulties. 888 clealy dodged a bullet here and will prosper (probably as a result of a takeover from William Hill over the next couple of years) and GVC and bwin may do so as well. The thing is that for shareholders the likely returns will be more easily earned at 888 who are travelling a much less risk laden path. Good to see you are still around. The likes of crookman and the old guard must have just got tired of this crock and sold up.
http://calvinayre.com/2015/11/10/business/gvcs-premium-over-888-for-bwin-party-has-evaporated/
I have never held a share under T/O offer that goes into limbo like this.
It won't let me post a link but do a Google search of bwin share price then hit news in the search results, there's a piece from today about the takeover being complete early 2016.
When Gvc completes the take over they will be quoted on the FTSE. Where the big brokerage houses do their business. Currently they are on the AIM, many fund managers are not allowed to operate there.
What way are things going? Do you have info?
Well personally Im very satisfied with the way things are going.
What happened the flurry of T/O talks? It's gone very quiet. I can never tell from these RNS if it's a buy or sell. Price up a bit so assume it's a buy - up 8p in last week - back to where it was few weeks ago. Rudderless ship at moment.
So is there a price where the the number of shares offered by GVC increases to protect the acquiree?