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What’s people’s thoughts on the possible takeover situation? A week Wednesday is the deadline and was hoping for a bit of communication…
What’s everyone’s thoughts ?
Yes not reading much in to it, just thought I was cracking up when I looked this morning.
Strange thing to do, however lots of people still on xmas leave. Guess they need more prep time
They have just updated it to w/c 15th Jan!
Is it me? The information about the update w/c 8th Jan has gone from the website.
'Why extend again and for a short period of time.[?]'
Because if an extension is to be made it can ONLY be given for a period of 28 days as per the Takeover Code (Ref: https://code.thetakeoverpanel.org.uk/tp)
I am hopeful the upcoming trading update (w/c 8th Jan 24) will be well received.
In the half year results RNS we had this statement;
‘“The first half of 2023 saw strong growth which has continued into Q3 despite an uncertain macroeconomic environment. Given the current trading, and a robust sales pipeline, we look to the future with increased confidence, and we expect to be ahead of expectations for the full year”
They have advised numerous times since then that trading is in line with the Board’s expectations so fingers crossed. Strong results should mean we don’t succumb to a low bid.
Interesting situation. Last year Smv received several enquiries without a firm bid and subsequently got taken over 6 months later after several extensions for only 1 seriously interested offer for cash. Smv was never going to have a wide appeal. Eqls seems in a far stronger situation in that they are happy to walk away if a deal is not forthcoming, but they are also in a highly competitive and crowded sector, so if a big company feels they will gain a strategic advantage by acquiring Eqls they should give a decent premium . Could go on for while yet I think. Wouldn’t rule out someone else crashing the party , given slightly better economic outlook.
Due to the nature of the extension I expect an offer to be made. Why extend again and for a short period of time. Feels like they just need more time to agree final details. If there was no deal to be had I would have expected talks to be ended at this point
This extension was expected. I for one would prefer the Company to remain independent but discussions are clearly extensive and I do anticipate a formal bid.
Another extension to the 24th of January
https://www.londonstockexchange.com/news-article/EQLS/strategic-review-update-and-pusu-extension/16266973
Yes from 29th Nov RNS we had this statement;
"In the light of this request, an extension has been granted by the Panel and, in accordance with Rule 2.6(a) of the Code, Madison Dearborn Partners LLC is required, by not later than 5.00 pm on 27 December 2023, either to announce a firm intention to make an offer in accordance with Rule 2.7 of the Code or to announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This revised PUSU Deadline may be extended with the consent of the Panel, at Equals' request, in accordance with Rule 2.6(c) of the Code"
I guess folks are surmising that if MDP LLC wanted to do the deal we might have heard by now and therefore are taking some off the table (aka selling a few). If there is no deal the SP will likely ease back further but I believe that would be a buying opportunity ahead of the Jan Trading Update which management have guided should be in line with their expectations.
This is AIMHO and good luck to holders here whichever way this goes.
There is an RNS due by 5pm today with an update but I haven't seen anything so far.
The one you are referencing is not it.
Hi everyone
Please can someone explain what is going on and how it is impacting SP
I see “bid situation” on HGL and the price has dropped. Yes have read RNS but would be helpful to understand what is really happening here
Thank you
Chucky sells after 11…..
Some chucky buys this morning. Not many working days before the next deadline, extension again? I do still hope that this stays as is (unless a big premium).
Still some way to go to reach the autumn 2018 levels (150-ish) but looking strong.
EQLS, made an all-time high, today, while the sector chart rose. The RSI(relative strength index), made a bullish failure swing by crossing above the RSI, high of 30/11/23. Fast sp, movement is confirmed through the Bollinger top and bottom bands , separating, that is top band going up and lower band going down. The next retracement, will likely be signalled, when the bottom Bollinger band begins to turn up. There is no overhead supply from previous trading, in an all-time high situation, so there is no resistance to upward equity movement.
Just checked the London stock ex, wonder if those 2x £1m trades, buys, sells or exchange. May find out in a few days (maybe).
Looking good today
And apologies all for dreadful typos including in the header.
Thanks for pointing that out Morbox...
Yes, bit later, w/c 8 January 2024 Pre-close Trading Update. As stated on their website.
https://www.equalsplc.com/content/investors/important-dates
Was nice to see the interim dividend being xferred from my income account to my NISA account today with HL.
Only 0.5p per share but better than a kick in the backside.
Will be received the final dividend or will we get taken out instead; time will tell.
We gave an interim updated early last Dec but silence so far this month...