Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
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...for something that is suppose to be a done deal.
Basically, he is saying a reverse takeover and remaining listed but being a private equity firm. Interesting, but it might be a no go.
Andy Brough mentions Clinigen #CLIN in the latest PIWORLD interview at 17m18s then again at 19m
Watch the video here: https://www.piworld.co.uk/education-videos/piworld-interview-with-andy-brough-markets-lessons-learned-in-2021/
Or listen to the Podcast here: https://piworld.podbean.com/e/piworld-interview-with-andy-brough-markets-lessons-learned-in-2021/
There could be a competing bid coming?
This increase implies there are rumblings for more, but i think the offer will be accepted in the end.
Just looking at the volume today there appear to be many buyers that are looking for a higher offer. The number of shares pledged to the offer is low.
Expect some announcements that this bid undervalues the company….there is a good chance of institutional investors extracting a higher price to get the deal over the line.
A disappointing probable end…not what was promised a few years ago.
Atleast the Bod has landed a deal. If another bidder emerges that will be interesting, but better to have a respectable deal than to drive this bidder away……bird in hand etc.
I expect we will see clinigen services prosper….and triton sell the products. That creates a high margin low risk operation to bring back to market as the growth peaks in a few years time.
it must be christmas, my sell instruction triggered higher than i'd set and i'm finally out of this pos, good luck to those holding for another bid, can't see it happening to be honest, godshare hit the nail on the head i think, and this is all she wrote.
Better offer might be forthcoming
Chance of a higher bid now that the board have put the company in play
the sp is higher now why not sell- anyone here with insight
Godshare you were spot on. I thought they might fight a bit harder but looks like they all want to get the deal done
We have to remember that the turned down a bid of 10+ GBP per share not too long ago. The fundamentals haven't changed. Most people would make a profit its sold around 8/9 GBP per share but I think it would be wrong for the Board to accept this. People seem to have short-term memories and the years up until Covid were very good and cash generative.
I think the board might actually be quite open to a deal actually.. maybe not in the past and they were obviously hostile to the Advent approach as JPM were brought in as NOMAD fairly soon after presumably to support on defence against further potential takeover approaches, however i think the landscape's changed quite a bit since then, most of the board makeup has changed with lots of new faces including a new chairman, and really it feels that to make the most of what Clinigen has and could eventually become, taking it out of the fast paced, short-termist listed environment and making some more sensible longer term investments might actually be a significant advantage. Given the average price since the profit warning in June has hovered around £6 and wasn't looking like it was going to go north anytime soon, an offer price of around £9 representing a 50% premium seems quite attractive.
That would be the market view. But the board could argue the following against a low ball bid:
- the profit warning was due to a temporary Covid headwind and its impact on hospital based treatments
- the Erwinase decision is a delay, not a permanent reduction in value
- the services side has significantly strengthened over the last year with a lot of new business wins. The future looks very promising for this side of the business, more so than a year ago
I took this up for a trade so I would be happy if the board could agree on a decent price, with a clean structure, maybe around 900p in cash. Of course a bidding war would be even better. But just playing the devil's advocate here, I don't think the board will give this up easily and it may come down to institutional support
Whatever the price was that gave Advent a look is pretty irrelevant. Since then they have missed their numbers, issued a profit warning, won’t be getting to sell Erwinaze in the US anytime soon after the CRL last week and abruptly parted company with the CFO. If they don’t sell the company will get broken up. Doing that in the public market is a lot less attractive than selling the whole thing and let PE take the risks that come with that strategy. Hopefully the board will take a pragmatic view and sell at a reasonable premium over the average price since the profit warning.
So you asked this BB for a speculative SP, and then bailed. You are just a trader plain & simple!
Spot on Jatw!
There is NO need for yu to post in the future then phax!
Missed out on today's rise - you win some, you lose some!
It would appear so. Something is motivating buyers, possibly shorts closing
There were rumours of an offer from Advent last year pitched at £10.50+. The SP spiked from £7.30 ish to over 9. Conditions and prospects have improved substantially since then. I think the odds are stacked against a friendly deal happening, it doesn't seem like anything less than £10 will get a look in
https://www.thisismoney.co.uk/money/news/article-8417997/Advent-International-bought-Cobham-eyes-Clinigen.html
Something has leaked, looks like it could be over 800p.
God give me strength.
Would be my best shot at ggms
Jiddy123 - I managed to get out earlier at £7.88 so I'm OK with that, not huge profit, but healthy enough.
No idea what is GGMS is...
It was a GUESS phax.
GGMS!
There is always ONE on every BB!