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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+
Moron together they only own 14% of the shares with the thieves trying to steal the co o the cheap
Am I right to believe that as a private shareholder I will still get £6.20 per share even if I don't do anything. How long will this current deal take to go through? I did buy at the top so not sure what to do. From your experience would say that there is a possibility of new bidders coming in. Thank you
HG This is a copy from a UK legal firm. I am open to correction if this is wrong. I also recall when Cadbury was taken over it was 90%.
‘A compulsory acquisition of shares (or a 'squeeze-out' of minority shareholders) occurs where a bidder in a takeover for a company has: the acceptance of at least 90% of shares; and. 90% of the voting rights in the company it is trying to buy.”
Binding terms will have been signed already, subject to Board Approval. In the RNS it says very clearly, that the BoD will be voting "unanimously" in favour of the offer - so it is done. Not great for PI's I admit, but teaming up with TB is a VERY good thing for Darktrace as a company. TB has massive global reach and very deep pockets. DT will grow FAR faster with them, than on their own, as a UK listed PLC. Make no mistake, it's over. TB have it in the bag.
Love to see kick got kicked in the teeth with her short!!
I wonder if poppy and senior management are going to be moved on?
608 today or 620 in 3-6months. Given the time value of money, most RIs will take slighter less then 620 today IF they don't think a greater bid will come in. Arbitrage Funds will start hoovering now so the 608 will creep up over the coming days and weeks as it did with KCT.
I see 0% chance of this deal falling over and a very decent chance of counter bids so I'm holding on to the shares I have left, circa 70% of my original purchase. The other 30% went before today.
GLA and DYOR
Dark board agreed to offer which I find amazing and unbelievable …
Dark board means Poppy and Co
What’s the timeline on this
I hope you are right and a rival bidder comes or a bidding war happens
The price is currently 608 p ? What does the market say when 608 p and not 620 p ?
What a disgrace to see good business being wiped out the public hands to end up owned by private equity firms. The employees are neglected the possibility of ownership and retail investors have less options for investing. All of this for a meagre 15% premium. Companies are not for sale, people managing companies are for sale, and on che cheap too.