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https://www.theguardian.com/business/2021/feb/08/mike-ashley-frasers-group-sells-stake-in-french-connection
By my rudimentary maths it looks like Ashley sold for around 16p a share when rounded up - have I done the maths correctly because it looks like he missed out on the rise big time lol :)
He's lost a lot of money then as the 2017 price when they bought in was something around 40p !!
Doesn't make sense ?
Indeed but the Guardian article is public knowledge now, they have either got their reporting wrong or he did sell for circa 16p. The market will have known of that 16p for longer than we have and yet the price has yet to plummet to 16p and those big buys this morning came in at 32p when the 16p maths would already have been worked out by the big players - soooooooo, something is a foot for sure. More plots and twists than a spy thriller :) GLA
Now, just as a bit of fun, what if...
Ashley sold his stake to Marks, that would be an interesting play, as it would put Marks fully in the driving seat for offers and perhaps Marks would subsequently invest in some of Ashley's business post FCCN sale...?
Just speculating :)
DMcG54 you may not be far off with that , we will just have to wait till they release the info on the buyer !!
You just never know with Ashley!
However, he is one hell of a punter, so if someone knocked on his door to bid for his stake, I wouldn't think for a minute, he would take a lowball offer.
If Marks would have wanted to sell for 41p or lower he should/would have done it last year when those offers were bandied about. FCCN is his life and his legacy, and I would imagine he wants a high level of financial security going forward in an uncertain world, hence I feel an offer would have to be over 40p in the range I mentioned (40p to 55p), there's a lot more going for FCCN than Arcadia with operational capability and global markets. If a suitor wants to keep snapping shares up on the open market (as an aggressive move) they will keep pushing the price up until they could accumulate enough to take Marks on - better and simpler to make a decent offer from the outset. Just my views, I could be utterly wrong, but just sharing my views.
The TR 1 is out
What do we know about this chap?
What a funny old game!!
Well, I'm reading, FCMUK which appears to be housed in the Boi Group - which has some familiar brands.
Ooh Harry, FCMUK is a good find, whether if it's the same geezer I found as well...? Hmmm
I'm sure the Journalists will be all over it as we speak - think I'll leave it to them.
Never a dull moment in this one.
Yep, fair point Harry, good find though mate