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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.
Lucky buy for me, as only bought yesterday... wishing I'd bought more!!
Sorry,i misread the RNS. 620p it is
Meant flipped at 6.17 i been saying for years crazy mkt capt here
Kick - funnily enough I have finally just sold RR at £4.06p. It really has made me a life-changing amount of money, as I went in big-time with it. Pure fluke to be honest as I could never have imagined how fast it would rise. But had I stayed here I would have made FAR less. Just a bit of very good fortune for once! Good luck to you. . . . ATB
Great to see you back Sheltie. Hope those RR shares are making retirement come sooner rather than later.
5 BILLION BUY OUT NO wonder they took it wished i took my trade at 5.96 early on just after rns and flipped at 5.17
Wow this ends a truly miserable time on the London Stock Exchange for Darktrace Plc. It has just been one thing after another. A lot of people have lost out on this one; and when you think that just over three years ago, folk were paying north of £9! Ouch. Not a very happy ending for many here, but it's a very good offer given it's current turnover (and pretty meagre profits). This will certainly be finalised and the BoD will be voting "unanimously" for it; done deal!
£6.20p per share is not quite the fairy tale ending that the dreamers were massively ramping here!
You have done well from it Stevie. You substantially backed your own judgement and I am pleased for you it has paid off.
Always gave the board valued comments unlike some others I care not to mention.