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Broch - ‘The pressure on the government and opposition will ramp up. The public backlash of selling off to an overseas private owner will be immense and the IDS board knows this and are using it as a weapon to fend off the bid!’
Your desperation is palpable. The government won’t be saving your blushes anytime soon. Just accept that your incessant whining was a million miles away from the mark and you look like an absolute melon.
Where is this public backlash you’re imagining? Maybe it’s just in your hovel? Where as in the rest of the country no one gives a f*ck.
Thanks Hounddog10, after reading your comment, it's not a done deal....
It's just sad the board have thrown in the towel at such a low price, as if they can't be asked...it's up to the major institutional shareholders to put up a fight now for all shareholders..
Assuming the offer is accepted for 370p. With the current price at 320 there is the possibility to make 15% on buying shares now.
If the offer were to be rejected are we back to the mid 2's?
Just vote no. Tell your postal mates to buy Ids shares and vote no.
Red, a lot of hurdles for MrK to jump before he gets his way.
Reading the boards statement yesterday it looks more like a challenge to the government than anything else. It's obvious that they want the approval to go to 5 day letter delivery so they can turn round to Mr K and reject his offer.
The pressure on the government and opposition will ramp up. The public backlash of selling off to an overseas private owner will be immense and the IDS board knows this and are using it as a weapon to fend off the bid!
Just vote no. Tell your postal mate to buy Ids shares and vote no.
Having held these since privatisation I shall be reluctantly give them up. OK a nice little earner but that's only money. The regular updates and conversation here will be missed.
What won't be missed is the CWU & USO.
More important than the institutions is the useless HMG, who have procrastinated for years over watering down the USO despite most of our Western cousins having done so without the world falling in. So this is one final attempt by the BoD to wring concessions from HMG so that they can show that IMG is worth more than 370p per share and so reject the bid. But is HMG capable of facing down the neanderthals in Parliament?
Thanks you for update.
Well done Carrington and others on your good fortune with the IDS takeover by Kretinski! Looks like a lot are in line for 60% returns if they bought in at 225 or less. Wow.
You could do a lot worse than recycling your profits into an ITV position - and hoping to do the takeover double :)
There are two ways to effect a takeover:
Scheme of Arrangement (“Scheme”). This is the normal method nowadays. For that Kretinsky has to get 75% of the vote. Crucially, this is 75% of those who DO vote and not 75% of the total potential overall shareholder voters. Kretinsky cannot vote his shares. So a relatively small number of shareholders can block him. A Scheme has the advantage that, if approved, all shareholders are bound to the takeover and delisting and their shares are bought out.
Contractual Offer. The traditional route. K needs to get 50% plus one vote (of ALL the potential voting shareholders, not just of those who do vote). He can vote his shares. Less attractive as, on top, still needs a 75% vote to delist and also needs to get to at least 90% to compulsorily buy out recalcitrant shareholders (“squeeze out”).
Takeover structure yet to be determined but a lot of moving pieces and, given the maths, certain institutional shareholders, even those with not especially big shareholdings, need to be won around. The share price reflects these uncertainties.
Thank you
It was in the statement at 14.00.
Was 14 hours in the air
I've skimmed back through posts
Where the board indicate they are of a mind to accept the deal did that come after close of business at 4.30pm or before ??
At least least 75% approval of shareholders required to takeover https://legalvision.co.uk/business-sale-purchase/compulsory-acquisition-of-shares/
Newdealz , TMS
How about an R2D2 with a deliveroo rucksack scuttling around the the pavements of Britain?
Newdealz
I completely agree,it seems to me all communication comes to us now through the ether..aka wi-fi . Shouldn't the CWU now become the DWU...the delivery workers union?
NewDealz - I think an automation and AI revolution is coming but in the short to medium term there will still be a need for manual labour and in a company like Royal Mail which is moving items from A to B most employees would be fairly safe from that in the meantime……
However things might start to look very different at the end of this century…..if we haven’t destroyed each other by then.
@darbo - i watched a very interesting documentary just a while back on automation and how it is about to completely change the employment landscape by just 2030, an automation line and or robot are far cheaper to maintain at an hourly rate and no issues with sick leave, holiday, maternity leave etc so no more employment HR or need for unions etc, people think this is just talk and wont happen but its coming.
Eric - if the offer goes through and is accepted you will get 370p for each share you own, inc
the two dividends.
Sid
Is it a simple majority he needs to buy the company
You said it…simple…s
Which will be hard to achieve without those large shareholders on board.
Personally hope this gets kicked into the long grass…more money to come over the years…prefer a slow killing than one large wedge in one go …..the only happy bunny would be the tax man
God help the TAF posties
Fooooked with a takeover
Foooooked without a take over
Is it a simple majority he needs to buy the company
£12 an hour on a moaning postie or 50p hour on a non-argumentative robot
Yep, it will not sink in with some quarters that letters are over. They used to be important and the people who handled them were pillars. Now they are not
Sid
If DK already owns 27.5% , looks like the board is in his pockets, maybe he's offered them jobs, can DK pick and choose with ii to talk to, maybe put pressure on a few ii's, then all ii will fall in line....
You said it…but the board won’t make the ultimate decision….will they..
Shareholders will have been sounded out…they will have given there thoughts…
I will be surprised if there thoughts will be …hey..you can have the place for £3.70 a share…
More likely he’s been given a price that doesn’t sit right…
Being a billionaire your used to getting your own way…perhaps he’s said sod it..let’s see if your pulling my leg….heres £3.70.
@maxi - low ball bid and now the chancer bid, i think 3 bites of the cherry are not out of the question here and i dont expect this to get the vote at 3.70, all parties do seem to agree on the take over its just the price. This is DK's chance to get the lot, i feel big changes will come in any case now take over or not and this might be his only realistic chance because the company could be worth a lot more in the near future and it would cost him even more going forward. Im sure he knows this and wouldnt be chucking his money into declining investment, automation is going to do a lot of people out of jobs in the next 10-20 years. £12 an hour on a moaning postie or 50p hour on a non-argumentative robot? ;-)