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I though Poppy already testified at ML cour case in advance?
The only she can do now is ak Jeffries to hurry up and find anothe buyere 750p to 820p ....lets see
Darktrace departure casts a shadow over the City
(The Times)
A previous bid may have been described as a “distraction” by its chief executive, but there was no dismissing the significance yesterday of Darktrace’s decision to agree a £4.3 billion takeover deal with an American private equity suitor and to walk away from the London stock market.
After a turbulent life as a listed entity, the British cybersecurity company has accepted a cash offer from Thoma Bravo, the private equity firm that had abandoned a previous tilt at the Cambridge-based business.
As a result, Darktrace will quit the glare of public markets that had become increasingly fierce as the company was beset by multiple short-seller attacks and by questions over its links to Mike Lynch, the technology entrepreneur who was extradited to the United States.
Lynch, 58, is on trial over charges relating to the sale of Autonomy, another company he founded, to Hewlett-Packard for $11.1 billion in 2011. The American buyer wrote down the value of its acquisition a year after the purchase and alleged that the British business had engaged in “serious accounting improprieties”. Lynch has denied all charges.
Lynch was a founding investor in Darktrace and, while he has no formal role within the company, remains a significant shareholder alongside his wife, Angela Bacares. Poppy Gustafsson, 41, Darktrace’s chief executive, has been regarded as his protégé after working in Autonomy’s finance department between 2009 and 2011. She is due to give evidence at Lynch’s trial.
Darktrace uses artificial intelligence and machine learning to detect vulnerabilities in its clients’ computer systems and to provide protection against cyberattacks. Its AI systems seek to identify when digital activity diverges from normal patterns.
The business was floated in April 2021 at 250p a share, giving it a valuation of £1.7 billion. The shares rose to about 945p during the year of its market debut, but came under pressure as short-sellers made allegations about the state of its finances.
Andrew Ripper, an analyst at Liberum, the broker, said Lynch’s legacy had been an issue for Darktrace. “There are quite a few people within the company who are ex-Autonomy,” he said. “Lynch and people associated with him had a holding in the business and that has been a factor in the share price volatility and investability for institutional investors who are concerned about governance and history.
“The board has done the right thing to make the company more investable over time, such as more independent non-executive directors.”
One City source said: “In the case of Darktrace, the main discount was the legacy of Mike Lynch. Obviously it’s not good news for the UK stock market because they were starting to cleanse themselves. All that hard work will go to Thoma Bravo or someone else.”
Thoma Bravo, a specialist technology investor, made its first approach for Darktrace in 2022, but walke
Darktrace is Sexy...........whether 620 p or 820p .....where to invest the proceeds.... which UK listed funds or Shares are low now with a 25% upside or more , within next 12 months ??? your top 3 ideas???
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I definitely think there will be a few interested parties. Darktrace would be a good fit for a number of US tech firms. It is just a case of waiting to see if any of them make a move.
My hopes are the current bid smokes out one or more interested parties I am doing okay at £6.20 but the greedy part of me wants more ideally a fair chunk more.
Nice one stockinv. A decent profit is a short period of time.
Anyone a good Poker player?
Howa bout this theory
Poppy puts Dark up for sale ...Thomas Bravo starts low 620 p..
Jeffries brings in a white knight 720 to 750 p and calls Thomas Brovo bluff
Then Thomas Bravo forced to up trheir bid over 800 p to around 840 p give or take 5 %
and Game over ...:):) at 840 p + or -
Sorry but no one cares about your proft honestly ...620 p is very low , I think finally we have a chance of 820 p to 870 p after a 2 stage bidding war
Luckily bought whole holding at £4.77 on March 14th 2024 so anything £6.00 plus will be a good profit
Even oif Poppy has been offered CEO role with a chance to make 500 million , I think she would be fine for a short ...one two bidding warto happen, and then we all exit above 800 p...
Personally, I would like it to conclude as quick as possible as I’m on a good profit. However I appreciate that some will feel that it’s a low offer. It is unfathomable why others wouldn't want to compete. As I see it the board of the target company has a fiduciary duty to act in the best interests of its shareholders. Therefore, if a higher offer is made, the board may need to reconsider its recommendation and evaluate the new offer against the existing one. This could involve negotiations with the competing bidders to determine the best course of action for the company and its shareholders.
Ultimately, the decision on which offer to accept, if it were to happen at all, will depend on various factors, including the financial terms, strategic fit, regulatory considerations, and the likelihood of completion. Just saying!
OK how could we get 820p or more.
Poppy agreed to the low ball offer of 620p , knowing that Dark was now up for sale, she knows the whole world including Microsoft, Google etc are watiching....these type of firms what a UK footprint
So a cash rich player could potentially come in and offer say 750 p for Dark.....and then Bravo , who still has dry powder ups their offer to 820 p final offer.
I am just wishful thinking?
AA was a great one - did well on that twice
Could easily be another bidder come in for DT as is the case with AA after BHP approach and that could well be the case for any additional UK stocks after an initial approach is made given the steep discount and favourable FX position in some cases. UK plc is ‘for sale’!!!!!!!
Sheltie , yes agree Poppy has caved in ( I guess because of the uncertainties of the Mike Lynch court case ) and also because secret negotiations with bravo , bravo probably ogffeted her 100 million pounds of shares to lead the new entity , easy for Bravo to bribe one person , We are not Privy to how much she was offered under the table
Qcm again? These clowns shorted at 250 causing the share price to fall to 210 ish.
The biggest position they had was about 0.6% short but they reduced as darktrace recovered. Qcm guy on twitter suggested they still had a short position about a year ago but at this point they almost certainty closed it all
no date on this report aquarianage when was it ?
*****essential capital management is short shares of darktrace plc (“lse: dark”)
not among the shoters i posted below did they close it ?
Lol.
It's all there...
https://www.qcmfunds.com/the-dark-side-of-darktrace/
AquarianAge, I would be interested to hear what evidence you have to back that statement up.
My broker shows a bep of 502p , so a gain for me here that does not seem to of happen often over passed three years.
Looked at dealing history with ( D )
DARKTRACE (WI)
16/08/2022 Sell 520.0
19/05/2022 Buy 319.00
02/11/2021 Buy 670.00
27/10/2021 Buy 700.00
Hindsight first bought on the dip from the spike to 985p 28/9/21 ( a tip maybe from barc )
High since my first buy 19/8/22 just after my sell at 542p..that was the correct call until yesterday .
One were more averaging down would have worked out as lows were 210p January this year.
Luke Bidco will regret it's takeover of Darktrace in the same way that HP regretted it's takeover of Autonomy. Mark my words.
When will these two close these positions .
Open Short Positions in Darktrace
Fund........................................................ % Short Change Date Changed
Cadian Capital Management, Lp.............. 0.53%..... 0.00%.... 24 Apr 2024
Qube Research & Technologies Limited 1.02%.... 0.06%... 19 Apr 2024
Total 1.55%
Sheltie, Totally agree with you here. Poppy has contradicted herself here. On multiple occasions she said that London was the correct place for Darktrace but now claims the company has been sold due to London not being able to value the company correctly. Her solution is to sell the company on the cheap to a predator. She has sold the shareholders down the river in my opinion.
Appendix 7 of the takeover code gives some indication of the timings in a Scheme of Arrangement for takeovers but is heavy reading. I came across a flow diagram based on Australian regulation which is usually similar. For ASIC rear Takeover panel. May be of interest to some. About 107days from start to finish.
https://content.allens.com.au/the-allens-handbook-on-takeovers-in-australia/schemes-of-arrangement/