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BBC just published a story that the takeover by JD has been blcoked by competition authority
Got in on the lows thankfully. Just wondering, is there any point staying in? Time to take money out of worth hanging around?
I am asking the very same question. How comes that ODDO keeps buying & accumulating? They are not acting on behalf of JD as per the forms being submitted.
Are they expecting to accumulate enough to block the deal? 3 to 4% was exactly what JD and FOOT current owners needs to accept the deal to reach to the minimum approval required (90% of shareholders). But in any case... I assume that kind of 8-9% is still in hands of small investors which... I am assuming that they won't fight too much before selling their holding at current level.
Just talk to my broker the offer is not set in stone . only primarily at moment . also could be April or may before it take over .
Does anyone know if Oddo are acting on behalf of JD Sports or are they building their own stake? They've gathered in 4.49% since Monday.
If the latter, is there going to be a rival bid? Perhaps, from the continent?
Quite happy with my profit from here, hopefully any original holders averaged down and came out ahead.
People talking about the offer need to remember it could have been at half that price had there been another couple of profit warnings before the bid came...
Completely agree. The family that originally set up JD sell JD, set up Foot rake in cash on the float then sell to JD. Poor poor offer. JD would have bought this at double that price to keep MA or others out.
True, thats why I finally sold all my position today.
Wow!! I am not the only one thinking that Board has made a very bad deal. The Independent newspaper has published the following article saying that this price is a steal if you look forward earnings:
https://www.independent.co.uk/news/business/comment/jd-sports-fashion-footasylum-takeover-deal-retailers-high-street-sports-direct-mike-ashley-a8827981.html
Being honest... I was expeting this to be a 6-Bagger from the 30's level. I was very confident to recover the IPO level in 1-2 years.
But... we can't do anything. Board + Pentland + JD Sports have an accumulated of 85% of the stake meaning that WE, particular investors, have no say in this deal. Only accept what board and JD have already agreed and released this morning. So I am out but this could have been a greater story.
BTW my avg. price was 0,39 so of course I'm happy with the profits made but... could have been more for the longer term.
Lovely when days like this come (WDC / Foot!)... put my profits from here into MIRI. Another downtrodden share due a bounce soon :).
And to all who called me a ramper at 50p here... well there ya go. Bye!
Buyers are hoping for a counter bid. I sold half (bought at 27p) and will hold the rest just in case - nothing to lose.
OLDSOUL there will be a timetable issued in respect of this offer which will specify the date you will receive the cash proceeds of 82.5p per share. The corporate actions team in your broker will credit the funds to your account on this date. There is no certainty of any counterbid & I doubt there will be one. If you sell in the market now you will lose 1p per share, I am happy to hold on.
Bit risky for the sake of a small %. I was happy to take 81.22p for my 45k's worth that I bought for 47p average on the day the JD news came out ... what an opportunity that was :)
...to one and all who have made great gains in this one.
I have just read the whole communication. Although it seems like the sale is secured as they ONLY REQUIRE a further 3,07% of shareholders to adhere officially and formally to the offer made (as Makins + current JD and Penton accounts for almost the minimum of 90% needed to close the deal), I have prefered to sell my holding in of my brokerage accounts which usually is hell to operate these kind of stocks (AIM...)
I will keep my remaining position to not loose a 3% as I just did, meaning that I wanto the full 82,50 pence in my pocket and not the 80 pence that market is offering now.
probably JD buying them getting them cheaper than thew offer price is a no brainer for them
Why is there all this buying??
Nobody bought in the mid to high 40's last week but now they're all piling in at the low 80's.
I just don't get it.
I sold my 19464 shares this morning at 80.9 having bought at 61.8 and am elated.
All thoughts are welcome!
Unlikely to be a counter bid, the offer has the backing of the board so it’s pretty much a done deal with there large holding and the amount JD already have.
@SMPUNTER - Does that mean that if there is no counterbid - the shares will automatically be executed at 83.2p and we will be paid out? Sorry in advance if asking basics but not sure if I should execute them myself now or what happens if I HOLD indefinitely?
Finally made a profit on FOOT. Caught a falling knife @84p then doubled up around 34p. Patience has been rewarded. I will hold on the tiny chance there is a counterbid though I cant see it. Well done those who kept the faith.
I haven't seen the full details of the offer but I think its a cash only deal? ie if you hold the shares you'll be paid out in cash and wont receive any JD shares. So 83.2p is the best it will be unless there's a rival bid.
Thanks JV... Thats what my initial thoughts were but a newbie in all accounts into this world... bought at 48p so great uplift but with JD's share price at £4.88 thinking there maybe still some more upside on this...? (Also FOOT's SP was £1.90 12 months ago so still has some significant headroom to grow with the supportr of JD now)
Old Soul - I personally think its well worth holding on to the shares for a few days longer atleast, just in case a rival bid does materialise. The 81p/82p price is as good as locked in so it seems a bit of a no-lose on the face of it.
Great news. What’s with all the buys going through now?
Morning all, what a great start to the week - the patience paid off! The big question now... does one HOLD or Sell...? What are everyone's thoughts and where and what do we think the SP will do in the forthcoming days...? Thoughts and opinions welcomed! GLA!