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To too two I have my pound land specs on not picking faults on spelling lol .Im just putting my view on I d s too this chatty board.Martin seidenberg seems too have a grip on the way forward at I d s after simone Thomson done a hatchet job on CWU And us at Royal mail it was brutal dragged screaming out the cave.Now seems too me that jobs almost complete Offcomm cwu and labour in the same room post man porche.
I'd love to know what Kretensky's been doing since his initial bid was rejected. The clocks running down and almost half of his allotted time has been used up. We know he will have done all due diligence before he made his offer. He's also extremely serious about owning IDS and has spent around £1 billion positioning himself and made his bid when:
IDS market valuation close to historical lows; GLS consistently profitable (£350 million p.a); R.M. becoming increasingly competitive; CWU far more compliant, finally realising strikes don't make the brutality of competition go away; R.M results will be good, market valuation of IDS will reflect this and will increase; U.K economic outlook improving , with interest rate cuts anticipated in the not too distant future.
Kretinsky knew all of these things at the outset of his offer, which he knew would be rejected. He also knew what his next offer would be and it was already financed when he made the first offer.
He will have been searching for allies amongst institutional investors, but this could be a game of brinksmanship that may go all the way to the wire.
@ Simx.
Daniel may actually be waiting until the last minute, so the price drops, and he can be put in a higher bid than 320p, but lower than what he, and the board, actually value the company at.
I'll also assume that the OFCOM review will be released post 15th May. I cannot find a date for this. Daniel would not want this info released before he has made a further bid, surely? Assumptions again, but a man of his calibre, would surely have some sort of insight into this review.
Or maybe, he is quietly selling his shares. He's made his money here, unlike some.
I could be wrong on all counts though.
If Mr K has or is in the process of obtaining 50% of the shares in the background, he can then buy all of RM shares at the current market value.
The current pension overflow that legally the owner of RM can take stands at 1.4 BILLION
You’re going in the green bin as I can’t understand you.
Isle, Kretinsky really wants to own IDS. Everything that has happened thus far that is in the public realm is as he anticipated, he hasn't given up, just playing his own game.
LDB, I think if Kretinsky was to pull a stunt like that the Govt. would take a serious look at his behaviour and question whether he is a fit and proper person, and if he can be trusted to own a company listed as being important for our National security.
@ simx.
""""Everything that has happened thus far that is in the public realm is as he anticipated,""""
Would this include when he publicly stated that he had no intention of making a takeover bid for IDS? Shortly after he was allowed to up his stake beyond 25% with full agreement from NS & I?
His lies didn't last long, did they. And because of these lies, N S & I will not allow him or his affiliated companies, to take over IDS.
Just my opinion, and it certainly will not stop him from making another bid.
To thwart MR K's bid, could IDS announce the group results early, rather than wait till 23rd may. .... If they have had a exceptional year/results and wish to stay independent....
What is a Creeping Takeover?
In mergers and acquisitions (M&A) a Creeping Takeover, also known as Creeping Tender Offer, is the gradual purchase of the target company’s shares. The strategy of a creeping takeover is to gradually acquire shares of the target through the open market, with the goal of gaining a controlling interest.
Understanding Creeping Takeover
A creeping takeover involves purchasing shares of the target company on the open market. Through the creeping takeover method, the acquirer can obtain a portion of the shares at current market prices rather than needing to pay a premium price through a formal tender offer.
The purpose of a creeping tender offer is to obtain a portion of the target company’s shares more cheaply than one can through an ordinary tender offer. In some countries, however, there are regulations governing this process that require the bidder to offer a formal bid upon holding a certain amount of shares.
Rationale Behind a Creeping Takeover
In the US, a creeping takeover is used to get around the provisions of the Williams Act.
Key provisions of the Williams Act:
In a tender offer, all shareholders must be offered the same price for their shares.
An investor or a group attempting to acquire a large block of shares must file all relevant details of their tender offer with the SEC.
Therefore, with a creeping tender offer, the bidder is able to circumvent all of these provisions and purchase shares from different shareholders on the open market. Usually, only when a substantial number of shares have already been acquired through a creeping takeover strategy will the bidder file the necessary documents and offer a formal bid.
MS, I wasn't sure about this so thank you for clearing this up.