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This is often a good strategy. sell some when you're up on news like this, if as has happened this time, you can rebuy back in on the dips when it falls through scoring some additional shares at no additional cost to yourself.
As most on here know, I am rather fond of this company, however I'm not afraid to admit to swing trading it a couple of times in the past and scoring some extra shares along the way.
fairdealer
A most sobering set of comparisons there.
I am certainly with you on Brains, I could not really see the point & I suspect it has/will hamper any further bids in the near future.
Better for the board than their investors I suspect !
What about the increased tourism Wales will be seeing over the next couple of years due to the pandemic, most families will be priced out of overseas holidays for a long time and will resort to staying in the UK.
I was a holder untill mid 90's but sold just in case the bid didn't come off, not clever but not wanting to be too greedy worked this time.
Luck does play a big part sometimes.
PI's should review and compare NAV's of co's within the sector.
Based on the latest published NAV's
M&B trade at 10% below.
Fullers trade at 50% below
Marstons trade at 160% above
I am not convinced the Welsh journey is going to return the values projected. The Brain's estate is a failing one. The Red Dragon Brewery which Brains retain ( did Mars reject this part of the deal?) has been on the market for sometime, there is no interest.
The BOD state working from home will benefit suburban Pubs, cannot see how this will work through?
Good to Daave's view?
@Jedclampit
I think you might well be right. I can see 75p coming through the course of today.
The sp is holding well so far because very few people have seen the RNS about no bid, can see this going back to 70p ish no trouble.
Most of us "Pi" are up on our initial investment. The SP was trading around 100p a share, so selling at a 5% premium (when the whole sector is down due to lockdown restrictions) would have been very short sighted by the board!
Holding up well considering current sector difficulties, undervalue offer the reason.
From the Platinum RNS, point (a) seems to leave the door open for MARS board to reconsider an offer, but the initiative must come from MARS. No doubt large shareholders will be sounded.
Hoped for 130p. Has climbed from around 40p over the last few months and see little reason for this to climb higher unless another bid. Which the directors seem determined to reject. Pubs are going to be shut for months. They could have given a price they would accept but too cosy I guess in their well paid jobs in the middle of a pandemic to bother with such things it seems.
11 February 2021
Marston's PLC
Update on possible offer: No intention to bid statement
The Board of Marston's PLC ("Marston's" or the "Company") notes the announcement by Platinum Equity Advisors, LLC ("Platinum") dated 11 February 2021, confirming that Platinum does not intend to make an offer for the Company.
The Board continues to believe that Marston's is well placed to benefit from the opportunities in a post-COVID 19 trading environment, following the completion of the SA Brain transaction and harnessing factors such as a reduction in on-trade industry supply, and increased home-working that will benefit pubs in suburban locations.
Marston's has a strengthened balance sheet following the creation of the synergistic joint venture with Carlsberg and significant cash headroom, enabling it to continue to absorb the impact of the temporary Government restrictions.
We welcome the continued nationwide rollout of the vaccine programme and look forward to rebuilding trading momentum once restrictions are lifted.
Quick recovery of the SP following this morning's auction following the RNS shows you there's likely something still in the pipeline about a takeover by a different interested party. Or that there's a lot of positive sentiment around pubs being close to an announcement re opening again.
Why the board didn’t take the offer. Can’t see SP improving anytime soon. PI’s shafted again
No bid was inevitable but great news in my eyes.
Platinum being the buisness they are thought they could get MARS on the cheap but everyone knows MARS are in a great position and poised to capitalise post Covid.
Managed to make a few quid out of the bid but will be buying back in now and hopefully we can realise true value GLA
After Friday's events , No surprise. Could not see PLatinum taking over a bunch of pubs under management and Brain's are not prepared to sell. We are still waiting for the Management contract details promised to be released at the same time as Agreement completion.
We will soon see how the market reacts?
Well today I am expecting the price to plummet back to 70's as now everyone knows the intention it will be a read day of sells.
No bid being made.
Platinum just issued their RNS
Lucky you , I had a little shuffle of my portfolio in January and sold at 70p to focus elsewhere , can’t win them all I guess
I totally understand the concept of averaging down. It's just to openly wish for a significantly lower sp the moment a decent upturn happens- at a time when we're hopefully the road to recovery as the end of lockdown nears- is generally a very backwards concept! By all means say you're happy for a lower sp in defiance if the sp has subsequently slipped a bit.... but it had literally just reached the highs of above £1!
@Lyncj01, thanks for the update regarding the privilege card. I guess we shareholders won't be quite so privileged after this October when the current card expires. I certainly intend to make fullest use of this excellent share perk before then though, lockdowns and mutant variants permitting that is
Check the RNS both lots were bought on the same day. Maybe they ( Bridget Lea and Husband) are getting their accounts up to date???
Bridget Lea became non exec in September 2019. In June 2020 she bought 25k shares @ 62p. She's bought another lot at same price 10 months later. If she sold the lot today that's 15k profit.
Always a good sign when you see more internal purchases