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Which news is this please?
Nice start to the day, let hope it continues at a good steady pace.
Nice start to the day, let hope it continues at a good steady pace.
Has the deal been done already ? The news on this says a offer of 75p am I wrong ?
If so this will no doubt push the price up much further!!
Reported that the trade was done on Thursday - before the major price action.
I don't think it can have been in the market because there weren't a high enough volume of trades, but we will find out soon because that size purchase is definitely reportable
Just spotted that also.
Do we think they've sold in the market or directly with a potential bidder?
Well surely didn’t go on open market. Only 13m traded in the last 3 days in total, therefore not enough to get these churned!
This is really interesting and makes a takeover much more likely in my opinion. I wonder who those shares went to, maybe another RNS on the way?
I'm not sure it will drift, Friday saw a big early rise with it tailing off later in the day. 25p offers people the potential of a quick 100% there or there abouts so I'd have thought they'd jump on it early until we reach 37-40p mark. If we hadn't have had the slow down on Friday then I'd have thought it would have been more likely to have that early drop, but feel this could motor as people try to get in quickly.
We'll see I guess.
Hi all. I think it's been quiet here because there were folks who were invested here 2+ weeks ago who have made a shed load of money and moved on. The second wave is now building up so next week I'd expect to see this board a hive of activity. I'm also expecting this to hit 35p at some point the coming week but Monday might see an initial drop as some bigger buyers will want a better discount on price before some rallys the coming week. Should be anything but dull :) GLA
This is a really old article.
This one from last year is probably more relevant to the current situation https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.retailgazette.co.uk/blog/2020/05/french-connection-turns-down-bid-from-all-saints-ceo/&ved=2ahUKEwiKnNGMyNXuAhXrQxUIHdKaDC8QFjAAegQIARAB&usg=AOvVaw3fXGX73Ntl8XgoDeSqNs46
I feel a final value between £50m and £75m is realistic. 100% up already and happy to hold and see how this pans out.
Sounds promising, that's another 100% uplift from here and likely by the end of March too. Very exciting indeed.
Can’t see this going for less than a deal worth £55 Million. Boohoo & Next will explore this after missing out on the main Arcadia brands. They both have war chests open!
Yeah it does seem very subdued considering the SP rise and potential for more !
Interesting how after almost 5,500 trades yesterday that the bought and sold vales is almost equal and so many small trades ?
It's funny though, this board is really quiet. You'd have thought there would be more excitement, goes to show how little free float there is with this stock as 2 parties hold about 70%. That's likely a good thing for securing a good price, particularly as 41p was rejected last year.
All the papers reporting on this today. Interesting quote in Daily Mail:
"Joe Morris, a partner at law firm Gowling WLG, said: 'The intense interest in French Connection is a welcome and well-founded disruption to the market. While they don't enjoy the popularity that they had twenty years ago, there is still an opportunity to revive the brand's fortunes through an injection of innovative, supply chain led thinking.'"
It was a shame it didn't end on the up, but if you look at how much the Arcadia 4 brands were sold to ASOS for (£330m) and all of those I would argue are less well known than FCUK, this is still undervalued as a brand.
It wouldn't surprise me to see them, Boohoo and Fraser's Group all expressing their interest.
Hi LG. I had expected it to tickle near 30p again and wasn't anticipating a retrace to 26p but as you say it stood up well under intense activity. Be interesting to see what happens next week but as you say this is already getting news items written about it and there will be more chatter about this i the media over the weekend. This is going to be fun :oD
This had the usual Friday afternoon flatline, but held up well. With further people reading the news over the weekend this could continue its upward trajectory into next week, especially if a few institutional investors decide to get in on the action.
Just in case my other post gets deleted ;)
https://www.ft.com/content/92202530-0cb5-4cb9-8e65-b63e111e1ff6
French Connection’s two big shareholders are companies controlled by Stephen Marks, its founder, and Sports Direct, the sportswear chain controlled by billionaire Mike Ashley.
Marks has for almost three years been looking to sell his 42 per cent stake, a move that would trigger a mandatory offer for the rest of the shares under UK takeover rules.
The company was worth almost £500m at its peak in 2004 before it fell out of favour with younger shoppers. French Connection issued the statement after shares in the London-listed company rallied almost 50 per cent on Thursday to 16.5p, giving it a market capitalisation of £16m.
Growing demand for online shopping has punished traditional retailers that have relied heavily on physical stores. The trend has been accelerated by the pandemic, prompting growing interest for takeovers.
Strand Equity Partners, an investor in London-based Sweaty Betty, last year launched Spotlight Brands with a view to acquire stakes in up to 20 companies in the consumer industries using a $500m investment.
US-based Go Global, a vehicle set up to buy retail brands that was founded in 2016, last year bought online retailer Modcloth from Walmart for an undisclosed sum.
From the FT (looks like the bidders are on a mission and they have the cash for the mission):
https://www.ft.com/content/92202530-0cb5-4cb9-8e65-b63e111e1ff6
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https://www.ft.com/content/92202530-0cb5-4cb9-8e65-b63e111e1ff6
French Connection’s two big shareholders are companies controlled by Stephen Marks, its founder, and Sports Direct, the sportswear chain controlled by billionaire Mike Ashley.
Marks has for almost three years been looking to sell his 42 per cent stake, a move that would trigger a mandatory offer for the rest of the shares under UK takeover rules.
The company was worth almost £500m at its peak in 2004 before it fell out of favour with younger shoppers. French Connection issued the statement after shares in the London-listed company rallied almost 50 per cent on Thursday to 16.5p, giving it a market capitalisation of £16m.
Growing demand for online shopping has punished traditional retailers that have relied heavily on physical stores. The trend has been accelerated by the pandemic, prompting growing interest for takeovers.
Strand Equity Partners, an investor in London-based Sweaty Betty, last year launched Spotlight Brands with a view to acquire stakes in up to 20 companies in the consumer industries using a $500m investment.
US-based Go Global, a vehicle set up to buy retail brands that was founded in 2016, last year bought online retailer Modcloth from Walmart for an undisclosed sum.
There were 219 trades today at 30p, so some entities out there wanted these up and including at 30p so some groups are confidently speculating. GLA