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Oh, was out celebrating last night and have only read down the thread so apologies as I have just read the rns from 6 yesterday.
No surprise in reality, but a great opportunity to add on Monday.
Still the game restarts Minday, GL.
By that I mean 50p up or 50p down.
So the hope is that Ageas will raise their meagre bid substantially to allow the board to recommend an offer.
As a holder, I hope so as anything else does not bear thinking about for mist holders on here. Probably another tweak in the cash element.
Given the history, Boards are reluctant to recommend unless a madcap off, say £4+
So we are left with a further tweak, which the BoD rejects and a likely walk away by Ageas.
Plenty of adds and trims next week as this will be volatile.
An independent future may not suit everyone but many LTHs would prefer that and a steady dividend.
Thanks Rishi
If a badly managed DLG can spend years hovering around 300p, then a well managed company should be able to do better. I expect there will be significant headcount reductions in order to take £100m out of the cost base, but when those moves are announced I'd expect to see some forward momentum on the SP.
We're not far off from future profit then the next set of results come in this should be back in profit or a small loss. I don't think the takeover would have offered the best value in the long term. come next year this will be over £3 again
A pretty pathetic approach from Ageas. The advisor fees would have been hefty. Not a good look for their CEO. Let’s hope Adam Winslow can deliver on his strategy. I expect the SP will drop on Monday but I don’t think it will stay low for long if the results improve.
Direct Line ADR in US closed down 7.8%
Makes London open on Monday c.193-195p
Word of warning to everyone, which has come true again with this thing called DLG.
Divivdend policy was so wrong. Should have been cut in half a long time ago. Any SP thst has a divi above 6% usually ends in disaster, be it gets a nasty haircut, or the SP drops like a plane coming into land. Truth hurts, but it’s a fact.
We brits are looking for juicy stocks with dividends to beef up your pensions and sit back and watch the SP rise back to their former glories.
It’s one talk my broker gave me when I was one client with Rathbones ..
It’s time to put some of that pension to use and top up in that big dip come next week! Can’t wait !!!!!
Oh dear. Back to the drawing board. Monday is going to be painful. If we assume net income of £225m for 2024E, 10x net income implies a £2.25bn market cap or 170p share price. I think we test that or lower on Monday. In time, DLG should recover but Monday will be a bruising day.
But let’s not confuse losing the battle with losing the war…
Https://www.proactiveinvestors.co.uk/LON:DLG/Direct-Line-Insurance-Group-PLC/rns/1439909
Just read the 2nd paragraph though...
I decided to sell my bt shares at a loss and invest the funds in here. I don't think the results was too bad and expect them to be in profit by the next results. it's an interesting stock to be in at the moment with the takeover bid. I have a bigger position in lgen good dividend payer.
Hopefully it doesn’t go quite as far back based on they have now reinstated a divi all be it crap and are bullish about the future. I feel it may just be the ceo throwing a paddy as he felt he could turn the ship around, I think this would have done a lot better with Ageas steer personally, but that’s my opinion. I have been a long term holder here
We are up the creek without a paddle
News just in no third bid 160p Monday
Is this just gut feel or based on any fact?
I believe a final offer of 250p is coming. Taken the chance to buy more today
And not forgetting that the Aegas offer will still include an element of their shares to allow those DLG holders who believe it can recover from here to benefit from that improvement.
It would be interesting to see how many of the DLG shareholders who bleat on about jam tomorrow will take up Aegas stock to share in that jam, or whether they will cash out and sell in the market.
On current form as of TODAY DLG are not worth 300p, there worth 212p.
So,. AEGAS are not going to pay a premium for something unless they know it can prosper without much change.
That’s the basics right.
Remember DLG has been on a downward trend since 2017, so the uptrend is going to require a lot of work.
Put it this way if SH dont accept the final offer, DLG will be trading well below the £2 mark
300p may grab my attention, 250-260 is insulting.
Yes, will be interesting to see how this plays out. A bit humiliating if he doesn’t have a final go.
I might write to Tim Cook and offer him £100,000 and a second hand Volvo for Apple Inc. That would make as much sense as the Ageas attempt at DLG. If you can’t get to a level that is serious, don’t bother.
"The comment was that the Ageas CEO would look “wet” if he didn’t come back for a final go at it. "
Reminds me a little of what happened at Unilever when the CEO went after the part of GSK that is now Haleon, shareholders baulked at the price and he stepped down shortly after.
On the other hand if he does launch a higher bid at that 2.50-2.60 level that is successful does he get plaudits for bagging DLG below the 2.75-3.00 mark first speculated as being the cost.
The Times commentary today speculating on a bid between 250p and 260p from Ageas. The comment was that the Ageas CEO would look “wet” if he didn’t come back for a final go at it. The update was described as “jam tomorrow”. Also commented on was the statement about the dividend payment not being a guarantee of “resumption”.
Mary sweetie the deadline is 5.00pm on Wednesday 27th so it won't be too late :-)
Ageas have to table a bid by 27th next Wed iirc.
An extension seems a waste of time unless a higher bid is tabled.
Guess we have only 3 trading days left as after close on Tues will be too late to change mind.