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Taverham - out of interest I'd been interested in your examples of companies who have rejected a bid and share price never recovered.
I'm happy to sit and wait. Price already recovering from being over sold on latest news.
Nipped in readded 206/7 part sold 221 and ended up with an extra few 000 shares average 172p - result.
Yeah, from 231 to 237....not really serious then.
Correction 3% . My mistake.
Realistically, you wonder what the point (and costs) of submitting such a 2nd offer actually is here.
Clearly, they would know it would be rejected out of hand and therefore looks no more than a preamble to their walk away.
Reflects rather badly on Aegas I would say, but no doubt they will tell their own shareholders a distinctly different story.
What our board have failed to inform shareholders of is the increase of around 8% in ageas sp since their bid on 8th March, which is worth another 10p on the bid.
Convenient or deceitful?
Ageas should go hostile £3 would do it.
Ageas obviously not really serious - a paltry 4p improvement. No problem, as DLG's profiits start to improve, we will be back to some decent returns.
Ageas pulled out all stops to increase the bid by
4p !!!!!!
Looking like an Elliot walkaway all over again.
Readding on drops. Plenty of potential.
(Sharecast News) - Direct Line tumbled on Wednesday after saying it had received and rejected a second takeover approach from Belgium's Ageas as it continues to undervalue the group.
On 28 February, the London-listed insurer said it had rejected a £3.1bn offer from Ageas. This comprised 100p in cash and one new Ageas share for every 25.24 Direct Line shares, and implied a value of 233p per share.
It said on Wednesday that on 9 March it received a second "highly conditional, non-binding indicative" proposal from Ageas at 120p a share in cash one new Ageas share for every 28.41 Direct Line shares. This has an implied value of 237p a share.
"The board considered the latest proposal with its advisers and continues to believe the latest proposal is uncertain, unattractive, and that it significantly undervalues Direct Line Group and its future prospects while also being highly opportunistic in nature," it said. "Accordingly, the board unanimously rejected the latest proposal."
Add & trim - LT hold whether a bid of not.
Nice dip - 207p v offer 237.
I have seen this on quite a few shares over the years where the sp never recovers to the bid price and management get away with it , their salaries share options etc. Disgraceful and slefish behaviour.
No certainties in life - let's see 160p again
Price is dropping like a stone
Looks like a walkaway coming up as no engagement - more than happy to hold.
Someone on the ADVFN board has come across an article in the Theinsurer.com alledging the Ageas will "sweeten the offer" to 279p.
Indeed it's even likely they'll ask for an extension if they do a higher offer with agreement of the board after those numbers
I don't expect a bid prior to 21 March either. If the numbers are poor Ageas might go for a slightly higher offer to the first one, if good they'll have to go higher for a knockout punch. At or above 275p I'm all for it.
I think on some level she was hired to cover for some of Paul Geddes failings around the new system they implemented, the information I can gather it's been a massive failure promising cost savings and intact it's just been a nightmare.
Couldn’t agree more. Penny James was a box ticking exercise as is Carolyn McCall at ITV.
If I were Ageas I would wait for Winslow to show his hand on 21 March and then tailor my bid appropriately. I don’t think we see anyone gate crashing until Ageas has shown their hand. We sit and wait now for DLG numbers.
I agree, I’d be pleased with 275 and very happy with 300. 233-253 isn’t really that great
I suspect that most shareholders, including me, (and rather than traders who may have bought in more recently) are still here now because we couldn't bring ourselves to sell at a loss after the management stunned the market by completely scrapping the dividend - just weeks after indicating that the dividend was safe.
I held on for a bid to sell out at less of a loss rather than a profit which is still some way away, even before the loss of dividend income that I have foregone.
To make matters worse, as it was a supposedly reliable dividend stock, I held DLG in my ISA and SIPP which means that even if /when I sell, I cannot offset the capital loss against profits elsewhere.
I think the only scenario in which I would be willing to give DLG the benefit of the doubt would be if they were to announce a special dividend with the results because things have already started to significantly turn a corner. I don't believe there will be a special dividend declared particularly with new man only just starting who will want the glory during his watch, not at the start of it.
Bring on 275-300p from Aegis, or whoever, and we're out.
It's not that difficult for a new boss to turn around a long established business if he knows what he is doing, especially a business which has done well in the recent past. There have been plenty of examples in history of precisely that and CVB has gven us one. If AGEAS really want this valuable business they had better stop p***ing in the wind and make a serious bid or butt out.