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I fear if we don’t hear from 888 by Monday’s close that their offer was only discussed in private and most likely below the 110 mark. Shocking indictment on our board, but we all know how great they are don’t we? If the 110 bid does somehow get accepted with the half cash/share offer the only plus would be that if us long suffering Bwin.party holders decide to hold the GVC shares we may have a chance of actually seeing the price move up instead of down as we have all become accustomed too for the last 5 years. It may not be too long before we see the 130 value we hoped for at this stage. Just as long as our current bod’s have nothing to do with the new GVC set up, God forbid! The other option is to decline the offer and watch the price drop back to 70 very quickly with little chance of it getting anywhere near 110 anytime soon, if ever, the bod’s are just not up to the job, I wonder if spring owl and the other major holders will have the same view and take the gamble of accepting this deal. Never the less, I’ve still got my fingers crossed that a counter bid arrives in the next few day’s with will put a whole to complexion on the situation. I sure 888 must see the advantages of merging with us rather than competing with another even bigger competitor.
There are no numbers yet but it could be something like £450m cash plus £450m of GVC shares at today's prices. If there was a big move in GVCs price between now and finalising the deal, they might tweak the number of shares. Or they could just use an average price for the 20 days prior to the closing of the deal.
Reading this its not clear is it an out and out takeover or a merger? Or it could be some type of cash and shares deal , but I've not had any experience in this type of hybrid purchase , is it a cash offer plus shares or is that the total offer with that days share price bring allowed for? Anyone got any light to shine.
Despite the price slipping there is still no shortage of buyers today. Come on 888 show your hand and get this thing moving at last. Just don’t want an RNS from this lot saying that discussions have ended after nearly 9 months with nothing.
wouldn't materialise*
Pretty much. It's too high risk for such a small return that would materialise on the current offer. They will try and buy for the lowest possible price but i think we'll see the offer revised shortly. A bidding war with 888 should push the price up. Personally i think they'll need to come up with an extra $1b for a deal to be struck.
Please pardon my limited knowledge of stock market. Now that there is a public bid valuing the company at 1.10 per share, shouldn't the stock price at least increase to be near this value. Why is the stock going down. Do the shareholders expect that no takeover will materialize?
It was at 1.10 before the partners sold a couple of months algo. Has to be at least 1.30-1.50.
Bwin and GVC both down 2-3%. Not reflexing well to the news.
I can't see them accepting a 900m bid. I hope not anyways .
They will always try thier luck with the opening bid.
I think this 1.10 bid is an opening salvo from GVC, it should now bring out 888 with a counter. Spring Owl are in at 1.26ish and very unlikely to accept anything south of that. I guess it’s 888’s move now, around 1.20 would seem fair.
Norbert starts out with one worth £3 billion. Yeah great deal what a Pillock he is if he and the BOD accept this offer.
Thinking the same, mate. Fingers crossed.
Hi Malta, looking at the price this morning despite the Greek issues, it looks like there may be some truth in that Times article. Don’t think any holders are willing to let go at this stage.
Looks like we could get an update next week - http://www.thetimes.co.uk/tto/business/markets/article4487690.ece
First off you need to know what the price was the day you became the beneficiary. Regards BT
OK, I have inherited a bunch of these from my fathers estate....so I am not making any profit or loss on them. What is the consensus please, sell or hold, does anyone have any access to broker reports/target prices that they are willing to share please?
The thought did cross my mind about him having more free time soon too. Duffelturder has got a lot to gain from a high bid so it would not surprise anyone if he screws us all by being too greedy. Tick Tock..
Would it perhaps be reasonable to assume that Philip Yea is expecting to have more time for other roles soon. I think i had previously posted that coming weeks would not reasonably refer to more than two months otherwise it should not have been termed as such. Yet here we are almost two months later with no meaningful news. This Bod has no regard for shareholders and it's hardly a surprise that they've let their shareholders down again. Let's hope the holdup isn't Duffelturder and his useless cohorts prolonging the process in order to feather their own nests any further. These idiots have cost the shareholders far too much already.
Even the mainstream press are now counting the weeks and asking questions as to the delay!! http://www.standard.co.uk/business/markets/jim-armitage-sajid-javid-needs-to-make-practical-skills-top-of-the-class-10341497.html Still waiting on bwin It’s getting on for a month and a half since the online-gambling giants 888 and the GVC/Amaya consortium threw their £1 billion bids into the ring for Party Poker owner bwin.party digital. The company said at the time it would make up its mind in the “coming weeks”. You’d usually take that to mean, ooh, three or four. The offers — both including cash and shares — are complicated to weigh up and compare. Bwin, meanwhile, has big individual shareholders including the chief executive, which makes for added complexity. But, given that bwin has had a for sale sign up since last October, investors rightly expected a result by now. Some are less than impressed that the guy who’s job it is to make the call — bwin chairman Philip Yea, this week added yet another big board position to his existing three — the senior non-executive director role at Computacenter. It means that as well as assessing a £1 billion bid for bwin.party, he’s got Vodafone (currently weighing up a megadeal with Liberty Media), Aberdeen Asset Management’s punchy Asian Smaller Companies Investment Trust, and now Computacenter to get his head around. Can one chap really do all those jobs properly?
the word 'contaminated' should have read 'confused'
This on paper looks like a fundamentally sound disposal based upon the arithmetic. The jettisoning of 4.1m Euros of losses for a consideration of $35m is arithmetically sound. This may have been necessary as the two bidders may just not have wanted this. 888 would concentrate upon the stronger and more recognisable WSOP livery and Amaya may too consider that the identity of their own branding through Pokerstars is too valuable to be contaminated with WPT branding. The obligation to continue sponsorship until at least the end of 2016 will of course reduce the $35m somewhat and we were not made privy to the cost of that sponsorship. On balance, IMHO this is no more than a fair deal for both parties and was probably necessary to clear the way. This should at least indicate that matters are progressing though. In short though - this is just another in a long line of mis-steps taken by the BoD being unravelled. The initial purchase price of $12m added to the losses/ support/ marketing effort since 2009 and added to the costs of the obligations through until the end of 2016 would undoubtedly reveal a pretty hefty loss on the venture as a whole. Kamel
I do hope this is not what we've been waiting 8 months for.