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Last post: ripley94, 31 Jan 2024 23:42
Paid out today lost about £57.50 adding and subtracting monies in and out.
Got the 3875p
I have waited 7 months for this cash .
2/6/23 LOWER OFFER OF 3875p EXCEPTED, price 6/6/23 3636p ( 3636 to 3875 is 6.85% )
Notes .
24/5/23 FALL TO 3102 .
The first offer must of been pulled.
14/4/23 Showing 35% up ( D ) to 3770p
Offer in 4070
14/4/23 Bought for 3700 ( -9 % ) have lots of spare funds .
Topped up 3700 9 % below the offer .
RNS OFFER 4,070
Below 7/9/21 @ 4800 first buy
Below the slice 4226 slice on 3rd March last year .
The PB Placing 21/7/22 was 3,430 so they have done OK can not see an OO to holders at the time .
In the FTSE 250, Dechra Pharmaceuticals surged 38% to 3,830 pence.
Late Thursday, the veterinary pharmaceutical company confirmed that it has entered into discussions with private equity firm EQT for a possible cash takeover offer.
Under the terms of the possible offer, Dechra shareholders would receive 4,070 pence per ordinary share in cash. The offer price is a 49% premium to Thursday's closing price.
"There can be no certainty that any firm offer will be made for Dechra," the company said.
good call,got in myself at 26.61, probably sell half at 30.00
Dipped a toe in today in anticipation of a better year ahead
Started: ColdFeetWarmHear, 8 Jul 2023 19:52
Last post: Jatw, 4 Dec 2023 20:59
This is going to rise slowly towards the deal price….now only 1% off. Think I will sell, but what to buy…..I can get 250 CVSG for each 100 DPH, still veterinary and currently suppressed by CMA enquiry, or just stick it in a Tech fund?
What are others doing?
I’ve cashed in my holding. There does not seem to be any interest from a rival bidder, the SP is in a very tight range and, although I could wait and allow for a natural conclusion, there is an opportunity cost to consider.
No decision on placing of the proceeds, suffice that it has filled our respective ISA wrappers and triggered a capital gain. I’m sure I have a few duffers to mitigate but may good fortune extend to all investors.
The results are tomorrow, but will be meaningless as this edges towards the deal completion. Most deals allow any divi to be deducted from the offer price, so i expect they will not declare a dividend….they may give some further detail on the expected timing….
Now only a couple of percent below the offer price…while that is a safe return it may take 6 months which may not be attractive for some…..definitely entering the time to sell zone.
Thanks Alas; this is v helpful. All things considered, I think I'll sell now.
The Scheme Document https://www.lse.co.uk/rns/DPH/publication-of-scheme-document-fqb6n4ao1xkdavs.html sets out the timetable and on 20 July subject to vote.
As it is expected to complete either at the end of 2023 or the early part of 2024, I am waiting until there is more information before making a decision. FWIW, I would prefer that it is settled in the current tax year as it will take up the full CGT allowance for both self and wife. I have not yet funded ISA wrappers for this year. Oh, and there may be a dividend paid in October, of course to consider.
Started: Jatw, 2 Jun 2023 06:06
Last post: Jatw, 2 Jun 2023 08:48
Certainly the current expected return (assuming the deal happens on these turns is much better than a deposit account….such deals are hard to arrange so both parties are unlikely to go back to negotiate a lower price…
On reflection I was being a bit greedy wanting 99% of the deal value… I doubt there are many competition issues, but the various local regulators will need their time to clear the deal. The SP will undoubtedly rise as these approvals come through…
Market price too low and if it falls further I will buy more as it is almost a guaranteed return.
Up to 9 months to wait for the cash is worth around 3% so anything above £38 in the market looks worthwhile taking to me. Where to invest next - I still like travel and leisure which will get a boost from the post covid holiday boom and lower oil prices.
The SP will be slightly lower than the offer prior to completion, I will sell when I can get 3850 rather than wait for the final settlement in x months time.
The question is where to reinvest?
Its here, £2 less than originally mooted but for me, given the state of the markets in general and the recent trading by dph it is a decent result.
Started: Jatw, 9 May 2023 11:53
Last post: Troajan, 1 Jun 2023 23:24
On bloomberg tv...its just said,a deal with EQT is near.
Tomorrow is decision day…..unless it is delayed again.
£6 gain or £9 fall…..and all points in between are possible…
Share in auction just now - not looking good!
"Without the potential bid this would now be around £25.00."
It was trading around the £25.50 support only a few days before the offer, today's news would have likely sent it lower. The offer has very conveniently supported the share price...
And lays the ground for a lower offer….or corralling shareholders to vote for.
Without the potential bid this would now be around £25.00.
There will be plenty of nervousness now about whether a bid will emerge….
Started: PlymouthMike, 14 Apr 2023 20:05
Last post: PlymouthMike, 15 Apr 2023 11:11
Thanks Alas_Smith. Appreciate your input
It is simply an Open Holding Disclosure form which is required to be published when there is a takeover and shows the material interest from institutions. While an interest exceeding 3% is notifiable, holdings below are not and provide useful information to all shareholders, the offerree and takeover panel.
Can anyone shed some light on the RNS Form 8.3 disclosures today?
Is it a requirement for all significant share holders to provide a RNS when a there is a potential buy out as I can't believe these shares were floating around waiting to be picked up and the RNS have been issued as a result of changes in holdings today. I note that Royal London Asset Management Ltd sold 17,763 shares at 27.2063 yesterday. Am I reading it correctly that someone managed to accumulate those shares at a very good price and started building their holding prior to todays announcement?
Started: Alas_Smith, 27 Feb 2023 08:23
Last post: Alas_Smith, 14 Apr 2023 12:24
Well, just as well that I did not sell back in Feb; I have taken some off the table today to bank a decent profit in SIPP.
I can't see how this can hold key support at £25.50; organic growth is pretty much flat, they have significant debt of £500m of which £237.2m is exposed to variable interest rates which is likely costing them 6%+ at present, diluted EPS was just 19.86p which means they are on a PE of 65... It's horrendously expensive.
I'm looking at this falling back into the long term rising trend band that it traded in from 2011-2016, which sits at £13-16, that would represent a much more reasonable entry price albeit you'd still be paying >30 PE at the bottom of that range... It's a tempting short but I'll leave that to the hedge funds!
Bit of a caning for shareholders. I am inclined to take the hit on the chin today and sell.
Started: samdb, 13 Apr 2023 16:52
Last post: samdb, 13 Apr 2023 16:52
Bit of volume suddenly this afternoon.
Started: Troajan, 4 Mar 2023 22:20
Last post: Troajan, 4 Mar 2023 22:20
in the mail
https://www.thisismoney.co.uk/money/investing/article-11819969/MIDAS-SHARE-TIPS-Petcare-firm-Dechra-day-again.html?ico=mol_desktop_money-newtab&molReferrerUrl=https%3A%2F%2Fwww.dailymail.co.uk%2Fmoney%2Findex.html&_ga=2.254749320.1246059182.1677968099-1843241439.1674940599&_gl=1*x8vnw4*_ga*MTg0MzI0MTQzOS4xNjc0OTQwNTk5*_ga_XE0XLFFF16*MTY3Nzk2ODA5OC40LjEuMTY3Nzk2ODEzMC4wLjAuMA..
Started: 100watts, 27 Feb 2023 09:15
Last post: Jatw, 27 Feb 2023 15:12
Oddly there was no profit warning despite eps halving…..however that is after some one off costs associated with the acquisitions……time will tell if this is a bout of M&A induced indigestion or something more serious.
As bad results go, a drop of 10% is nothing unusual and probably better than deserved…..the saving grace was an increased dividend, the analysts will be working out whether that is sustainable but on a low yield it should be.
Shocking . Would not see that coming from the trading update and clearly neither did the market. Knocks the management credidibilty somewhat.
Good that management was able to execute the second deal highlighted in July.
Buying dollar assets may prove to be timely with the dollar seeming heading towards parity with sterling.
Two acquisitions at around $200m each, one agreed and a second under negotiation.
The piedmont buy seems a little speculative but assume there is confidence in the to be launched products. The second seems to be a commercially positive deal.
Started: volcano, 21 Feb 2022 07:57
Last post: Jatw, 21 Feb 2022 11:44
The numbers are as good as management promised. The SP rating is still quite racy, somewhere above 50x
The 25% fall over the last couple of months is more to do with rising interest rates and what investors are willing to pay than a change in company performance…..may have to wait a year for the eps multiple to fall back to around 30x before much growth in sp can be expected….but this remains a quality share to own for the medium to long term.
was expecting a recovery here - maybe tomorrow?
DPH Bid:3,910p Offer:3,942p Change:126
Dechra Pharmaceuticals delivered strong interim results amid increased consumer spending on pets during Covid-19 restrictions.
For the six months that ended December 31, Dechra posted pretax profit of GBP53.4 million, up 51% from GBP35.4 million a year before. This was on revenue of GBP322.4 million, up 7.5% from GBP299.8 million.
The Northwich, Cheshire-based firm declared an interim dividend of 12.00 pence, up 8.1% from 11.11p.
Looking ahead, Dechra said trading at the start of the second half remains strong, especially in major markets which are returning to "historic levels" of growth.
"Future prospects remain excellent as we strengthen the group's infrastructure, continue to outperform markets and identify and deliver new strategic growth opportunities," said Chief Executive Officer Ian Page.
Started: jakeK, 9 Feb 2022 08:11
Last post: jakeK, 9 Feb 2022 08:11
What on earth is going on here ?
Started: swingman, 7 Jan 2022 12:59
Last post: swingman, 7 Jan 2022 12:59
The fate of this new comer is almost similar to Dark Trace. Not welcome by the fund managers and been heavily shorted similar to DT. Another one term visitor?
Started: Jatw, 11 Jul 2021 22:32
Last post: storm, 4 Jan 2022 17:47
Jatw,
Cristal? No thanks!
Bollinger VVF is just so very much better.
In the US you don’t need a vet if you have a gun.
I don't know, maybe just a tree shake but unfortunately it worked as it triggered my stop loss.
I suspect the price will now drift back up.
Brilliant results but sp falls - market was expecting more?
Potential FTSE100 promotion coming due to others losing their domicile/primary listing status (BHP and Just eat takeaway)
So, Exane and J P Morgan both predict 5600 and 5700 respectively and the shares drop. Bonkers.
Maybe their statements alongside trading updates (which are good numbers) confuse people.
Strong us companion animal business but they don’t know why. (July)
Latest still trading well but not confident to extrapolate forwards…..
Why say anything?
This is very volatile lately. Anybody got any idea why ?
I actually wonder now whether there was a large dump that has been worked through quite quickly rather than a market response to bad news. Also, the overseas earnings after currency conversion
"Reported Group revenue for the Period increased by 21.8% at Constant Exchange Rate (CER) (20.6% at Actual Exchange Rate (AER))."
is only 1.2% lower, not a big impact. Much more importantly is the statement that there has been no exporting or importing impact following Brexit (compared to what some industries have experienced). Probably should have headlined that one above the others imo.
sp is on a steady climb now so looks pike pis coming in. Would be nice to see a few iis come in as a steady portfolio stock.
The headlines were known at the trading update....the more detailed text is quite balanced but contains a number of cautious / concerning statements that counter what appears to be generally good news
Eg price cuts, competitor products, soft comparators, delays to mirataz in Europe.
These imply these may be better than expected but t don’t expect them to continue.
Also £ strengthening is worsening the £ results as there is a relatively small UK business compared to growth in global operations. However currencies rise and fall, the business is growing well at constant exchange rates.
IMO this represents a buying opportunity- which seems to be coming through the trades today with 2xbuy over sells at 9am
Given good results, why the drop?
Started: Jatw, 7 Feb 2021 14:50
Last post: Jatw, 7 Feb 2021 14:50
Net revenue ahead by 20%
This seems an exceptionally resilient share for me. Doubled my money in three years.
Quality management and share.
What do others think?
Started: Jatw, 27 Oct 2020 14:06
Last post: Jatw, 11 Jan 2021 10:13
I see a new TU is expected on Thursday.....hope it is more extensive than the last.
Should be a lot to say about new products.
Shortest and most useless one I have seen in a while.
Can’t help but feel some more detail about what has been exceeding expectations and by how much would have been better.
Started: Jatw, 7 Sep 2020 09:25
Last post: buysell, 7 Sep 2020 09:29
Yes very good indeed
GLA
A survivor and now looks like a winner....with additional products added and current products extending their range.
One to add regularly to the portfolio.
Started: Jatw, 9 Jan 2020 08:47
Last post: UKInvestor2.0, 12 Jun 2020 11:43
Sold at 2724. Probably can go higher but just a trade for me. Wish they were all that easy!
Nice little director buy there too
Bought in, -7% seems steep (hopefully)
Sensible decision to fund the acquisitions with new equity and only a small dilution.
Stronger and larger.
Good to see the Board investing in additional product portfolios. No doubt there will be more divestments in the Bayer Elanco merger.
Strong fundamentals for this company....we love our pets and private healthcare for them is only going to expand....
Started: TillyWolves, 17 Feb 2019 12:03
Last post: TillyWolves, 17 Feb 2019 12:03
Dechra expanded into an additional office building, in Northwich last year. Nice bold move, signalling their intentions to expand. This is a nice stock to have in your portfolio.
Started: lejjb, 10 Sep 2018 10:52
Last post: lejjb, 10 Sep 2018 10:52
Small but steady rise, I'm glad I put a good chunk here, much less stressful than AIM and small caps...
Started: HappyRob, 4 Sep 2018 08:46
Last post: HappyRob, 4 Sep 2018 08:46
Good Company making sensible decision.
Another Derailed Brexit plot a few months down the line this could be ok