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Bonkers,
Morrison have over £3 Billion debt.
5.7% shorted. (Thats only those showing over 0.5%)
I'll bet it goes to 230p tomorrow quickly. Might even open at it.
Market will expect a higher offer.
https://www.theguardian.com/business/2021/jun/19/private-equity-firm-mulls-cash-offer-for-morrisons
Can't see CINE going for less than £1.80 to £2.00 personally.
A bid is only worth what someone is willing to pay , not what shareholders think thier shares are worth.
We can look at what cineworld own ,dont own , how much debt, future of films , vaccines , deaths , the weather , euro 2020 predictions unemployment and any other subject we feel is relevant and come up with a random price on what we feel is value is , I would imagine we all feel the bid should funny enough be our own exit prices.
If a company come in and offer less then majority shareholders want it will be rejected simple , if more will recommend to approve. You only have to look at bacanora to see that , who have had a completely under valued (possible)bid which is being recommended by their board. Leaving shareholders furious. We are last to be thought of in any such event.
Hyperthetically let's entertain a bid acctually comes , If it does I will be absolutly astonished it will be over 1.30 opening bid , and 2nd if we were to be level headed about this we can go on all day about what they would be getting for thier money , all the reasons why we invested right, film slate , recovery , 100 capacity cinemas etc etc , but any takeover would surly be taking on the debt as well.
The debt is a sore subject for some , but it's there , and something any potential bidder would have to look at. If we like it or not the level of debt devalues the company and any potential if any bid.
Look forward to be called a deramper or day trader now. But unlike some looking at the bigger picture.
Either way I hope IF a bid comes and I say IF mooky rejects it and the s.p moves nicely north , personally I still have all the faith in mooky , and I don't think he would sell for anything over then astronomical which I doubt is coming.
Just my opinion
There was your Mooky interview
https://www.youtube.com/watch?v=d3MjV1nLDz4
Capitalistpig in agreement and benefited likewise from BT. Just sat patiently and waited.
There are a number of reasons why imho now would be an opportune moment for anyone to make an approach for CINE.
* The share price is less than half the price of the Regal deal alone.
* The Chinese Box Office has recovered far quicker than most had expected. Same with Japan and Taiwan if you listen to Mooky's interview.
* Western Box Offices have been seeing successive successes with post pandemic records being set for those films expected to make good money. Godzilla versus Kong, MK + Demon Slayer, A Quiet Place 2 and Cruella.
* USA has just gone back to virtually 100% seating capacity with California and NY just added last week.
* Vaccine delivery plans are cutting mortality and hospitalisations. Carrying on at pace.
* The Paramount decrees ruling mentioned previously added 40% to the CINE share price. That's not far off the retrace from 123p to 83.48p
* AMC has outpriced itself, with Reddit/ WSB interest.
* We are the number 2, behind them.
* Fast and Furious 9 opens 24th May Uk, 25th may USA
* Marvel Studios Back Widow opens 7th July UK and 9th July USA.
I hope an initial approach does come to catapult the share price but if it is opportune then I would wish Mooky to state that it undervalues the business. There are plenty suitors out there. Disney, Netflix, Warner Bros, Jangho / Chinese.
Those with patience can see it coming.
Cinemas don't own content, studios do. It makes far more sense for streaming platforms to gobble up studios.
Streaming has somewhere to show its content and those places are free to them - our homes.
Not saying it can't or will never happen, just don't see it as their best move currently.
We have 5 days to confirm or otherwise latest thread on takeover is pile of 5h1te or not.
Freedom of speech isn't only for Napoleon and his few fellow pigs ;-)
Sorry, I missed a paragraph from the end of the post.
On the basis of what we paid for Regal alone then arguably it would have to be over twice the present share price . Even that I think would be opportune.
LPD,
you seem to be making a similar case with Cine as was made with BT around a yaer ago.
In that, the sum of its parts is worth way more than the present market cap.
??
Pig
It would seem that some in our midst have sought to remove not only one post but the entire contents of a thread of perfectly legitimate debate and number of postings thereafter. Sadly not freedom of speach but it was up there long enough though for most to have see it and some will have screen shot it.
Back to your question if there was to be a takeover approach to appear for CINE this week or the next then firstly the Paramount Decrees ruling has enabled it.
https://www.polygon.com/2020/8/7/21358637/movie-theater-antitrust-laws-paramount-consent-decrees-movie-studios-theater-chains-netflix-disney
Other considerations would have to be that our present market cap is £1.145 Billion. That is less than half the £2.4 Billion that we payed for Regal cinemas alone. Netflix were purported to be looking at the time.
https://www.thisismoney.co.uk/money/markets/article-8351307/Netflix-looked-bid-buy-2-4bn-Regal-Cinemas.html
*Be aware though that we also have circa 125 multiplexes in the UK and Ireland over and above that.
*Be aware that we also have circa 104 multiplexes in Poland, Romania, Czech Republic, Hungary, Bulgaria, Slovakia and Israel.
We have also seen the first consolidation within the industry with Amazon only recently having bid for MGM.
https://www.theguardian.com/technology/2021/may/26/amazon-buys-hollywood-studio-mgm-james-bond
We sit we wait and see what happens.
What would the stock go for if this “takeover” is true?