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Any idea of the time frame involved? 3 months , 6 months or other for the deal to be completed?
Thank you
PHNX are a dog share with a good divvy. Been in them for years and not broken even on a badly timed purchase at much higher than 470. Great for income of course but cap gain another matter although there's hope from this level I suppose.
It's a tried and tested model. Buy low in the UK, run it privately for 2 or 3 years and then re-list in the US. They'll probably triple their money.
I don't think RIs have any hope of stopping this but if you've sold hoping the sale will fall over and you can then buy back cheaper you can forget it.
This is a one way bet now. You hold or buy ay 608 and either get your stake money +2-3% in 3-6 months or you get a much better return if another Company enters the bidding. That's why certain types of Investor jump in after the initial furore of the takeover announcement has died down.
"Its move private will be seen as a major blow to the London Stock Exchange, where it listed in 2021. The company was seen as a welcome dynamic addition to a market often characterized as less appealing to technology firms than those in the U.S. or Asia, and stacked with “old economy” players, such as miners and oil and gas companies.
Darktrace specifically referenced its belief that it is undervalued in the U.K. as a reason for the sale. In a statement, it said its board believes the firm’s operational and financial “achievements” are not reflected in its valuation and that shares are trading “at a significant discount to its global peer group.”
https://www.cnbc.com/2024/04/26/uk-tech-darling-darktrace-rallies-after-agreeing-5point32-billion-sale-to-private-equity-firm-thoma-bravo.html
>I'm hanging on!!
Its a tough call; I suppose it all depends on your entry price.
Ahananda hits the nail on the head but I'm not sure why anyone would sell under 620, especially given the amount of shorts to close/closing out
They are a huge Investment Fund that has a significant portfolio of companies.
Net is they see it is very undervalued on the LSE & based on ARR, growth etc they can realise a higher forward value from their growth that alas will never be realised as a UK plc
Why is the company turning itself into a crappy hotel chain? Go to the FT article and click on the link for DT IR. You go straight to Ibis Land. Well done IR Person.
IMHO Have a look at PHNX..26.65p x 2 dividends..low price at the moment...im trying to buy more at 470 but might not hit that
DYOR
If we all vote no to take over (£6.20 is way too low), would we be able to stop the take over.
Anyf unds, shares listed in UK ?
620 p way too low , who could offer more ?
How is the timeline ?
How does Thomas Bravo hope to make money from taking over Dark?
1. Improve the management?
2. Offer better finance?
3. Gain synergy with another company they own?
4. Current SP is much too low?
I doubt the reason is any of 1-3. Instead from their thorough research of the company and its environment, they must believe that the SP is much too low.
Personally, I shall trust their judgement , which is based on a much deeper understanding than my own. I do not see how Bravo will improve DT and expect DT to thrive on its own, so I shall not sell and will oppose the takeover.
Having watched the intense activity in AI in the US market I am not surprised at this, expected, offer. As a holder I would have expected a fair offer at this stage of 700p minimum thus I continue to hold. I understand BoDs happy to accept given the uplift to their low price original investment. This company will be developed in the US where liquidity/investment is multiples higher than the LSE - reason why FTSE companies deserting or considering it in droves. Be interesting to see whether further bids incoming from US.
75% required to complete. 90% required to squeeze out the no votes.
Another plonker comment
The fact the price is so low will very likely draw other parties in and hey maybe that was the intent all along
Rarely is life simply black or white
Ahananda nice effort but just like your failed AI share valuation module that posts gets marked with a U and a comment of Must try Harder.
Now off you toddle to the THG board where you are stating it will reach £5 a share.
Best advice for you is go get a dog a large piece of Cardboard and a begging bowl.
MattTheBrave- yes, life is never 100% cut and dried. But, this is 95% nailed on. TB will swallow DT up.
LOL
I used to have a boss with that attitude. It can't be a good idea because someone else would already have done it if it was. The company went bust, no big surprise really.
Different sides of the Jefferies house, which would not be permitted to communicate with each other. Yes it's awkward but in reality they don't have anything to do with each other. Or are not supposed to.
If anyone was interested in DT they would have bought it already.
Ok it is a Scheme of Arrangement so 75% it is. Not so good for hanging in there to get an inducement.
I looked up on the threshold for compulsory purchases in a take-over.
There are two types Contractural , where threshold is 90 % and Scheme of Arrangement, wherei it is indeed.d 75%. Need to look to see what type of takeover this is.
Anyway take -over companies don’t like minority shareholders and they will offer inducements over and above the offer price if the threshold is not met.
TSM - agreed!
Sheltie - there is no such thing as truly binding terms until the owners (ie shareholders) have agreed until then, any other bidder is free to enter the fray, and the Company Board must give due consideration in the interest of shareholders. Where this happens, I know of no situations where the Board has rejected a higher cash counterbid from another party. I would say 50/50 whether this emerges, but ultimately, as the minimum you will get is 6.20 if you hold on, I think the optionality is pretty valuable here. I'm hanging on!!
As a long term holder who had no intention of selling I am disappointed in today's news. Darktrace are worth substantially more right now and had the potential to be multiple times higher in years to come. The fact that London can't value tech stocks is proven yet again as another one is sold on the cheap.No wonder the number of IPO's taking place on the LSE is at record lows.
Sheltie. I agree a sale is a done deal, but it isn't cut and dried to TB.
The shareholders won't vote in favour of the offer regardless of what the BoD recommends if new offers surface, so even if binding terms have been signed they don't extend beyond the irrevocable support by the 15% and the BoD to TB.
That's meaningless if Crowdstrike or another come in and offer 650+