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It will be interesting to see where this opens on Monday, especially following the comment also in the rns -
'However, following discussions with the Company's independent valuer, the Board is anticipating a material increase in its property valuation for the period to 30 June 2021'
Yep. I'd been building my stake back to pre Covid amounts and hoping for an increase back to pre Covid share price i.e. 200p plus. Personally I'd hope any offer is above that but realistically may not be...- to get to pre Covid level bid would have to be around 210 - think that would around 30% on recent price. As for revaluation, strange one...but sounds good news...Guess a bid may follow and be determined by that..
Clearly, the takeover is not welcomed by GCP. First they publicised it without agreeing this with the bidder, then they talked about a 'material increase in valuation' to up the price, presumably they hope, beyond the level which the bidder is prepared to pay. Interesting stuff.
seems to have gone very quiet,I noted (RNS) a few big sales from institutional investors but not the normal chatter on bulletin boards when a bid comes in. it would be nice to see the result of the "material valuation increase". I originally bought these originally with a view to hold longer terms for growth and divs and to compliment and diversify my WJG holding (both doing nicely). Whilst nice to get a quick buck, unless they increase to 2.30 ish I 'd rather the deal didn't happen.
Well there we have it - Bid recommended by management at 213p. The question is will others be prepared to come forward? Like you winski, I was here for the long term yield and growth so I'm slightly disappointed, and I don't know whether other bidders will come forward. Still, the price is now underpinned at 213p, so worth holding out for a bit to see what happens I think.
MTB….could be good advice to hold out, have had mixed results in the past on takeover shares, some shares stagnant for months only to drop and others benefited from a nice increase. I’m 50/50 at present whether o sell and paddle the canoe somewhere else. As PI’s we are just the fodder to these larger investors. Decision would be easier if other bidders, still nice result……just under 50% up over a few months….HAGWE
Trading 212 is saying DIGS have now been acquired and trading is suspended.
Anyone know the final price, timescales for shares to liquidate or any final dividends?