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Let’s see if we get a Two take counter offer
604p.
I think it was worse that the management bit TT's hands off at the first sign of a payout. Whatever happens they need to be turfed out.
Well done all those who held on!
I am glad that someone has realized how cheeky was the Take Two offer. Fingers crossed it comes in tomorrow.
Sky news - The American computer games giant Electronic Arts (EA) has gatecrashed the £725m takeover of Codemasters, the London-listed producer of some of the world's most popular motor racing titles.
This could be interesting in the morning....
It's not. There's literally hundreds on these on the live RNS page (click on button above). Once a company is under offer, all investors with more than 1% of a Company have to report all trades.
Just found it in a recent search. Thought it was significant
Nope, just a Hedge fund increasing its stake. Why have you, posted this?
Good article Tony, thanks for sharing. I'm very happy to let hedge funds have most of my shares if they want to speculate on a better deal being forthcoming. I've kept a few to make life interesting, but locked in the majority at c£5, which I'm very happy with!
It won't get suspended until the day offer actually goes through and you get your cash/shares.
Hedge funds are buying see below link
https://www.ii.co.uk/analysis-commentary/stockwatch-red-hot-sector-risk-and-opportunism-ii514396?utm_source=newsletter&utm_medium=email&utm_campaign=NEW-DLY-ENGAGE-afternoon_round_up_04122020&utm_content=newsletter&spMailingID=11372673&spUserID=MjY4MjE5MjU1NTM5S0&spJobID=1650719074&spReportId=MTY1MDcxOTA3NAS2
Good point Tony8129, I tried selling this around 1230 today and was wondering when it might be suspended due to the buy-out process locking-in the shares - anyone know this info? - Thanks
Can anybody explain the position now if trading is suspended.
Clearly the shares are worth more than the offer on the table so surely shareholders cannot be prevented from selling there shares and maybe forced to settle for the offer on the table ...........
I've sold about 80% of my position now, with the last tranche executed this morning. I think I'll leave the remaining 20% and see whether we get an improved bid from T2 or someone else.
Why trading has stopped on this share? I cant sell my holding any more and cant see any share trades after 9.20am.
Yes, exactly same decision made yesterday (not quite the profits you have achieved though), so much going on in the markets at the moment, take your profits and explore other avenues.
I have decided to sell - luckily with a 125% profit - not sure how the takeover will play out - worried no other bidders have appeared and management seem determined on this bid (which I thin under values future growth prospects) - doubt bid will succeed at this level but it could be increased......so it is a 50/50 play and I am happy to take my profits.
thats right - I make it currently circa £5.02 per share in total......but will change if Take Two share price changes (currently going up daily)
Mahmas01, yes, that's my understanding of how it will work. If you don't know already, you should also check that your broker allows your account to hold US shares. If they do, you may also need to complete a US W8-BEN form, which certifies you are both a foreign person (ie non-US citizen) and that you are the beneficial owner of the shares. You only need to do this once for all US shares and I think the form is valid for about 3 years, when you need to complete another. My broker lets me do this online.
If your broker doesn't allow US shares, I think you may have to cash in before the takeover, but other posters may be know better than me! Good luck.
hello, I hold 573 CM shares that I purchased couple of days ago with out fully understanding the takeover mess. Now can some one please explain me what that mean :
"Codemasters shareholders would get 120p cash and 0.02834 new shares in Take-Two for every share they own"
My take on this based on todays TTOW closing price:
573 x 1.20 = £687.6 cash
573 x 0.02834 = 16 TTOW shares worth $181 each.
Please correct me if I am wrong.
it looks like a number of large asset companies are increasing their positions even though the current price is above the bid price........
I was late into this share, having bought on Guy Fawkes night but thought it had good prospects. The takeover offer was a surprise and though another bid may come, I decided to sell my small holding of 500 shares to lock in a nice 14% profit now.
TTWO US shares have a PE ratio of 43 - higher than CDM 29 ish and, like CDM, don't currently pay a divi. A recent Motley Fool article compared TTWO with ATVI and suggested the former may be the better choice. Maybe absorbing CDM will help TTWO grow, so best of luck to all remaining holders.
Really is intriguing to think what would be happening to Codemasters share price right now in the absence of the takeover offer. Would be it closer to 600p or would it have never got above 500p
Same here. Sold the lot at 500p.
It wasnt a fortune but up 50% in a matter of months.
I might have got 510 but then it might drop to 485 and I end up about 1 shares in TT, which are pointless to me - cost me a lot to sell!!
Us poor guys need to take a good profit when it’s offered!