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1. the buy-out goes ahead at �2 2. there will be a 3rd party so might offer <�2 3. the buy-out won't happen and price goes back to �1 which one?
Bank of Motreal have sold over 8 million shares since the announcement of takeover. I assume some have been bought by Advent agents but a number of Hedge funds have taken a position. The massive position taken just prior to the announcement is a mystry. Surely, Advent or its agents are precluded from buying prior to the announcement unless since it is on the open market anybody can buy
Unfortunately, in most UK PLC's management almost exclusively run them for their own benefit and there are no repurcussions if anything goes wrong. Only Pensioners and small shareholders like us lose out. The long term shareholders have all suffered but the look at the dire state of some of the Companies in UK PLC. A lot of them have massive pension black hole and the Regulators are weak and dont have teeth.
Yes we are bitter, come on there has had to be a underhand ? undetetected deal going on
Lets face it, us shareholders who supported the company over the last couple of years and decided that the company still had potential to develop into a bigger market despite the mismanagement hiccups, have not had a thank you from the company. The lack of on going information since the well supported rights issue to get them out of the slump they were facing and push them forward into the next phase, was then just met by utter silence from the company which obviously was very worrying. They did not have to indicate that they were in talks over a possible take over ( how long were these secretive talks going on ) but, progress in the company was moving ahead as they had predicted in the distant past but by not issuing an update which was well over due, they muddied the waters. The management needed our support, but most of them will now have feathered their nests and will end up in lucrative positions and be rewarded after the takeover.
Let's hope a hostile bid comes in before then. I don't care if its the Chinese as the management don't give a toss about shareholders anyway......
AGM 27/04 and I believe prospectus on sale will be issued on 17/04
Yes Upper I'm in to the bitter end....private investors are being sold down the river. The Board have deceived the market IMHO by not giving the usual Q4 trading update hence artificially affecting the SP prior to the takeover announcement. Do you know when the vote going to take place?
There is an RNS on Quinlans shares. I dont quite understand what he is upto?
I meant like me you are in until the finishing line in May
I assume you mean 4th Quarter update should have been given in January. By not doing so, small shareholders would have been spooked and probably sold out. Frankly, the governance by FCA and FRC is very poor and Londin Stock Exchange is non existent On a positive note, Goldman Sachs are buying on the open market for Advent and other hedge funds too since the takeover was announced which would suggest a counter offer will come through which probably would be hostile. Advent will make a packet and probably made an offer with the intention to flush out a real buyer. The Management Quinlan and Dangerfield were probably aware of this Moniman I hope like me you ate in until the finishing line in May
I agree that if the company had issued a third quarter update in January the share price would not have fell like it did. By not doing this they caused doubt in share holders and potential buyers minds, that the recovery was not going aswell as previously predicted. This has kept the share price falling and made the offer look attractive. If a third quarter trading update had been forthcoming, I am sure the share price would have been a lot higher and any takeover offer would have to be higher. Come on Financial Conduct Authority surely lack of information constitutes market abuse
What about contacting the London Stock Exchange to.
That's great to hear, it definitely would appear that insider dealings occurred leading up to the results and should be investigated. The company always gives a trading update in January forQ4. Management were deliberately holding back good news whilst possibility working with prospective buyers in large selling activity. I also noticed that the day before the results two separate £1 million buys went through. Which is several times the normal trading volume. This should be reported to!
In the longer term, this share is worth �3~4, that's why Advent International put an all-cash offer of �2, they are expecting the price to go to �4 ~6 in the future. I agree there seem to be something really odd for the Board pulled the 4Q results. Had the 4Q results been released at the end of January the share price would probably �2 anyway. Hence we are being cheated out of value and we do not get a dividend! I've put a complaint into the FCA on the matter of share price manipulation and insider information dealing. Perhaps other shareholders will do the same?
Advent takeover at 14 X earnings is not on. 20 X earnings is 285p and that is not taking into account future growth in a Company which has hardly any debts. Nevertheless, Laird can remain independent in this fast growing market with the big boys. They just dont have the resource. Laird, the previous ship builder has come a long way but are there any pension deficits?
Advent have also indicated they were proposing to sell off the connected vehicle division. They are not stupid to retain the other two divisions. They are onto a winner here but are deluded and a counter offer will come through It will be done and dusted by end May. The mid April takeover documents from the Company will be binned!!
I am not bailing out. After the takeover announcement, Hedge funds are piling in and building a stake so there is bound to be a counter offer. The connected vehicle division alone is worth a packet and contrary to what I thought even the wireless division was up 4% so no negative effect here. The management were silly to make this an accepted offer. They should have announced an approach only at 200p which has been rejected. On around 170p price at Q3, the shares are commanding 17% premium only and yet Q4 shows more progress except the $ headwind. I am sitting on this as no doubt another bidder or bidders will emerge including the chinese and Koreans. The minimum takeout is 250p but with bidding war who knows. It can well go 250p +. After all, they were 375 to 400 p only 15 months back The hedge funds and there are several who last friday were buying. Some may be buying for dvent but others will hold on to sell to the highest bidder. I wonder how they did at the exhibition in Korea Advent had assurance from 27% and may have expanded their hold to 35% so guys hold this one till the bitter end. My average price is 120
Well guys for those thinking the offer is too low then there is still a good possibility of a white knight riding in with a better offer. Looking into this Telydene, Eaton and Amphenol along with other PE's could all see this takeover as an opportunity to get in on the act. Cooper Industries were willing to pay the same price 7 years ago, despite the rights issue, the company has more than doubled it's turnover and profits since then. If you look at the prospects for all three divisions and the IOT prospects, the Laird os is more valuable than the current offer IMHO. Bearing in mind the SP was over 400p two years ago on much less turnover and profits. The maths is simple, the company is being undervalued and is currently worth circa 250p IMHO. Advent know this and that is why they have pounced now, after the SP a driven down by MMs prior to the takeover offer. Well this is just my humble opinion, but it does make some sense I believe. So I'm voting no.
Looks like you've all sold and moved on.....where are we all going now? Unless of course this story still has a bit more to go.....
Post brexit PE firms have been consistently outbid late in the day by international trade buyers, the biggest example I can think of being an Australian company (Link Group) outbidding CVC by 30% to buy Capita’s Asset Management business last, last minute. Bodyshop another smaller example. So here’s hoping...
Having done a bit more research it looks like not only have private equity firms but US technology giants Amphenol and Eaton could also become potential bidders in the coming days/weeks........here's hoping. 200p is nice but 250p would be even better.
Looking back US company Amphenol (rival to Laird) have been previously rumoured to be interested in takeover of Laird as part of its own growth strategy. Let's hope bidding war starts, just like Comcast have done with Sky this week. I'm holding on....
I think 225p could well be in reach now that Bidco has shown it's hand? Why sell at 200p when it's almost guaranteed. Even if the offer fell through the re rating and further growth could take the SP above 200p within a year potentially.
According to report from Yahoo finance possible hostile bidder may come into play........? "shares in Laird were up slightly above 200 pence in morning trade indicating that traders think there will likely be another bidder who will offer more for the firm."