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As I said earlier there is no point insulting this bloke, he is vastly rich, very successful at what he does and knows exactly what he is doing right now. People are getting too emotional. Don't, because he isn't. I'm not an expert on takeover rules but I think all he has to do is make a non conditional offer for the company by 5pm. As long as he does that he is still in the game, I don't think it has to be an agreed offer though I may be wrong. Could be even lower than the £5.32 he tried to agree with the ISAT board. This guy is very clever, he's certainly not a plonker,
Morning Phoenix. Potential new invester here looking in from the outside. I've done a little research on the chap making the offer and he strikes me as a very savvy operator! This will have been his plan from the start - especially given that there don't seem to be any obvious rival bids forthcoming (atleast at this stage). He seems to be one of those guys that always gets what he wants and I'm pretty confident that will continue here - and it will be at a much higher price than the current sp (480p) when the final offer is accepted !! Just my view !
Is it correct that Eutelsat can still make an offer if EchoStar make a "firm" offer... Eut has a 3% stake in ISAT?
- BB --
Seven hours left to make a meaningful offer and prove you're not a joke Charlie, tick tock......
Nope , he gets locked out after 5pm today if nothing formal is sorted and his offer makes that impossible with its wording as of this morning. Bye bye and good riddance. Then we get a decent offer from another party or watch the share price go back up organically
I don't think he remains locked out if there is another offer. I'm not sure how he ever thought £5.32 would fly when it's been over £8 this year
From any shareholders now . If anything, we would rather take an offer from anyone but him . There is a low ball offer and there is an utter insult that puts everyone’s back up . He has now put the management in full control of the game . He’s already lost . I thought he was smart . Need to update his Wikipedia. Can’t buy a company he needs desperately for pennies and couldn’t work out where he went wrong . Plonker
True, Any offer less than 7 or 8 pounds is a Joke.
If he’s locked out for six months , his spectrum dream is over. Others will now wait till he’s locked out and then move in . Plonker . He’s dropped the ball this time . Oh hello , I’d like to offer 50p for your 20 carat diamond worth a million pounds . What a plonker
So if the 'improved offer' is at 5.32 how low was the initial offer ?!!
That 6.30 SP a week or so again looks a long way off now !!
DT
they can't open a short position, that would be insider trading
for the big future rise with all the new deals being done. He has gambled and lost big time. There is frugal and there is stupidly tight penny pinching pound foolish . This guy is utterly crazy this time. Bye bye . No wonder management let the receptionist tell him they were too busy to waste time talking to him. I would say he's pd off every shareholder
.In a note to clients, Canadian bank RBC upped its price target for the FTSE 250-telecoms company to 850p from 725p, saying: “We estimate Inmarsat's spectrum is worth c.£10 per share, split European S-band (£3.25), US L-band (£5.00), Global Lband (£1.55). Spectrum is extremely important to Echostar and its sister company DISH (both controlled by Charlie Ergen).” so this offer les than the us spectrum value !!! b/s basically. Question can echostar open a short position @ 5.26 or above knowing their offer would reduce the sp and thereby profit form insider knowledge and manipulation ????? coz im pretty sure on of the dozens of rns sated they has a short position ???
Is the offer made around 5:52 ....Not very clear.
I would expected lower end of 7 pounds. This is a joke.
Pulls the price down on purpose. Now others will come
You cant knock the guy, despite several here wanting to. He is a billionaire, probably several times over. None of us are!! He wants the company, but this process is going to be very protracted, so the share price may well increase while negotiations proceed. The skill is judging how long to hold for, and exactly when (if) he eventually walks away which may cause the SP to crash. Bit like poker...….
In the meantime this isn't good for the company. The Boards eye is being diverted from their true role, because a significant amount of time will be spent on the (potential) bid.
That low low offer although a bluff to see our management hand , will now awaken other interested parties as they will not want this company to be purchased too low . This chap is patient and takes his time . Look him up on Wikipedia and his life and character and history to understand how he tucks . Know your enemy
For what its worth, IMO £7,00 is the max we can possibly hope for, and would probably be supported by the board. Given the recent share price (by recent I mean the last 2 years) it would be supported by PI's who don't want to see a return to the mid 300s (for the foreseeable future) - and the company's prospects haven't significantly changed recently other than having its SPP supported by a potential bid so a drift down to those levels is likely if everyone walks away. The outcome wont be decided by PI's though but by the Institutions, and their decisions will be done with their heads not with (like PI's) their hearts. Fingers crossed for an eventual settlement at £7.00, it would get my vote
Pi££ taking septic tank
We know he is very frugal. Therefore very low offer . We know he’s a clever poker player, he’s bluffing out to see the management expectation and to lower our expectations. Waits till the morning to release info . Know your enemy. He is running true to form .
Be interesting to see the price when the market opens, gauge the opinions of 'experts' about the probability of further offers from Ecostar or a 'white knight'. I think it is very, very unlikely that we will see anything approaching £10 per share from ES, because it would make them and their strategy look a bit daft
This offer has no chance, and EchoStar must know that. It is a stalling gesture. I sincerely hope it coaxes a second bidder into the fray. EchoStar can do nothing with only 3% of the voting rights an no support from the Board (and please chaps, unless the share structure is very odd they do have only 3%. Convertibles carry no vote until converted to equity).
Yip disappointing.
I believe the American term is ‘Go fish’
DT
At 532, can we expect an offer from Eutelsat? Maybe...