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Does look like enourmous stake building going on now. It’s cash, inventory, assets per share are a little north of 100p. So take out 115p plus or minus 10p. SP needs get higher to stop this low ball take over. A year from now will 150p plus. I think this will jump again when the market opens this morning.
At 90p, its market cap is just 3.4 times 2021 earnings.
Insane.
Someone bought 22n shares at 102 yesterday afternoon.
MMH got taken out just a few weeks ago at a huge premium - so any bid here will have to be north of 130 imv to stand a chance.
Someone bought 6% of the shares at 102p yesterday. When do they have to make an announcement about that?
Don't know why people are selling at circa 90p when there's someone willing to pay 102p and probably much more. I'm holding tight!
In fact, I think I'll have a few more.
Very very good call. Me too.
The following trades all at 102p late on Thursday according to Sharepad:
22,612,506
7,218,750
3,609,375
2,528,349
153,850
So a total of 36,122,830 at 102p or £36,845,287 worth.
10% of the company bought at a significant premium. Got to be a very strong chance of a bid here.
Especially now we know it’s Brammels investment machine at work grabbing 20% at 102p. I think everyone is a bit sleepy this winter’s Monday morning. I think we will close at 95p by market close today….
From MMH chat 29/11/2021 re takeover
"Constellation are paying a 41.3% premium on Friday's closing price"
Just doubled my Lookers holding...
Also loaded up again. ????
As predicted people waking up to the free money, From a slight negative start first thing it’s starting to gain traction now. I’m still at 95p ish by close today, then 150p c. 8 months time or earlier if we get a takeover bid which I strongly believe will happen within 3 months - Let’s see….
Monty
How do you work out Tony B is building a stake?
He just sold the shares to constellation ?????
(Sharecast News) - Car dealership chain Lookers revealed on Monday that Constellation Automotive had purchased 78.0m ordinary shares in the group, representing approximately 19.90% of its issued share capital.
The London-listed firm said the majority of the sock was purchased by Constellation's Tony Bramall, who stepped down from the board of Lookers in December 2020 after 14 years with the company, at a price of 102.0p each.
Says Constellation Auto belongs to Tony Brammall in the news this morning if I’m reading it correct. TB is the Ex Chair of course
It says purchased from Tony B not by Tony B
TB sold his holding
The article in Share News is totally wrong to say that Brammall is associated with Constellation.
Constellation bought Brammall's shares, and they have history of paying large premiums for car dealers.
So they paid 102 , surely that sets a floor?
Constellation paid approx 16x Marshall Motor's forecast earnings for FY 2022.
LOOK's forecast this year is 17.5p with 10p for FY 2022.
160p - 280p
Edward, I read elsewhere that Brammall is part owner of constellation. Either way I reckon a bid is on its way here soon also - if not why buy such a large holding - just to let someone else run it? Don;t think so. Think I will add.
Says in the news, purchased by (not from) Brammells Constellation, so I had the impression it was his investment vehicle. Anyway whether it is or not at 102p it really speaks volumes s about where the SP is going. Min 102p or a takeout bee coming and things could get hot..
The LSE stating brought by Brammell is incorrect per my previous copy and paste. It’s defiantly sold by Brammell. It’s a good thing he’s out in every way as the chair that presided over the accounting issues that damaged investor confidence and put a dark shadow over lookers causing it to have the lowly sector comparable valuation it has today. As this is now in the rear view mirror we will see continuing value adjustments - 150p this year would be ballpark fair value.
BTW - Not sure if TB has a percentage of Constellation, it’s an enourmous investment vehicle playing in the UK Automotive sector.