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I doubt anyone will, read this!
Yes Mango, sad. I feel sorry for us when we invested in a company well placed to carry on expanding in a scenario of an aging population. I feel sorry for those who are already McCarthy and Stone residents, and those in future who will seek to spend their final days in sheltered housing, who are now in the hands of disinterested fat sharp suits who will see them only for the dollars they can extract from them. I am just hoping that the UK Governments U turn on the leasehold retirement home exemption comes back to bite them, though in truth I expect in practice it will be the elderly who pay the price. Shameful, I'm not normally vindictive but I hope the current McCarthy and Stone board rot for what they have done, which we all suspect was to feather their own nests.
Under the terms of the Merger, holders will be issued with GBP 1.20 in cash in exchange for every McCarthy & Stone share held
The official pay day is 15th February 2021.
From ii corporate actions.
A sad end brought about by poor leadership.
I took your advice a couple of weeks back banker, put money into BMN and BSN and have no complaints! Seemed odd to be able to get 119.8p when the bid is 120p, This is a sad end to this company, I shall forever condemn the Board.
J&J just checked in again, having already sold out, to see if I had missed anything
... frankly 120p revised offer is just adding insult to injury.
Recommend you cash out now and re-invest in gold / pgm stocks that are grossly undervalued
... SHG / THS / KAT & JLP are a few to consider
I reckon by the time the MCS offer closes and you get your 120p you could be up around 30% in any one of these
Got to laugh jaffjoon. You post asking if there is anyone there, and when I do you, and everyone else, ignores me!
Unless I am reading the RNS, and this mornings press comments, wrong its all done and dusted. Am I missing something?
Disappointed as I would like to have voiced my disapproval in an ineffective but personally satisfying 'No'. However no Corporate action request ever reached me from iWeb to afford me that opportunity.
Wait for this to be leveraged by this sharp suited mob and the quality of care for our elderly to deteriorate. Naturally I wish a plague of locusts to have a right good crack at the leafy Surrey gardens of the feckless Board of Directors.
There, with that off my chest I can go and have my bacon sandwich.
Wow that's worthwhile. A RNS after close of the market saying one of the BOD is pledging support for the bid with all of his 658 shares. Including the 129 shares he bought recently. Gracious, that's £150 quids worth. That will sway the bid........
Sorry if I sound like a cynical bloke. Its probably because I'm a cynical bloke.
Yep still here!
Only just noticed this. Why increase the offer that was already agreed by the puppet Board of Directors? I assume institutional investors have made it clear that they wouldn't support it. Will a measly 4% increase in the bid really make a difference?
I think we are supposed to be convinced that the BOD are good chaps and that we should support the Americans taking over our provisions for the UK elderly. Bizarrely it wont change my mind
I seem to be all by myself here..... just like last Christmas !
HHeeellloooo... anybody there ?
Just seen the new offer at 120 P. Is it enough ?
Decided to cash in my holding today 116.6p is better than 115p !
If the offer is rejected next Monday at the GM, then the price almost certainly has to fall before any counter-offer is made.
I might put in a limit order to buy on Friday at <100p
Sad to see the lack of interest here. I will vote against this deal because I object to these greedy Wall St. types coming to the UK and asset stripping UK companies (albeit UK companies run by self interested BODs). I think any counter bid would have surfaced by now.
Definitely agree the offer is too low but whether we get a counter-offer is another matter.
Certainly a couple of large buys above 115p at eod suggests somebody else might want to resist this takeover, but given the BoD have been promised they retain their jobs / bonuses etc we can't be sure they won't just let the sp fall back to 70p if the offer is voted down. For my part I've been invested for a couple of years bought initially around 130p ; luckily I topped up at 70p so have an average of 107p and will come out ahead if this goes through
... but I was looking forward to a nice annuity stream around 6-7% as well as some capital growth over the next 5-10yrs
I totally agree. The board seem to have no belief in their own ability to steer this business through a rough patch, even though the exit path from the current crisis has always been there.
It's not as if the supply of older people is ever going to dry up.
How any of them justify their pay is beyond me.
Funny how the remuneration report in the annual accounts is one of the longest sections..shows the priorities of this troop of unimaginative time servers.
I may be completely wrong, I openly admit that, but to me the most negative spin possible is being put on this business by the MCS board . With just enough positivity skilfully thrown in to provide them with a plausible defence against such accusation.
Yes I am a cynic, but this board, who have very little skin in the game, are about feathering their own nests rather than acting in the interest of shareholders or indeed the elderly UK population against an opportunistic bid.
very interesting price action at the end of the day - maybe the white charger is heading this way.
Yes CEREUS, this is a miserly off by an American outfit who I cannot imagine will give a stuff about our old folk.
As I stated on 24th July when they were 70p , an offer had to be made . I said it was a half price offering , and worth at least 140p , I still think the offer is too low. Anyone agree with me?
sadly as time goes on there isn't much sign of anyone on a white charger hoving into view
Lets hope. There was a surge towards the end of the day and SP still holding above the offer price even though the completion of the LS deal months away. I'm hopeful
Strong potential for a higher offer.
McCarthy & Stone (LSE: MCS) Acquisition Details
https://mergerarbitragelimited.com/mccarthy-stone-mcs-acquisition/
Hi all, my first post here but have followed everyone’s posts for a while..
I noticed in the RNS yesterday that Bridgemere increased their holding from 3.373% to 4.2%. I can’t claim to understand everything in these forms but it did strike me as odd when everyone else seems to decreasing their holdings.. any ideas why?
I sold my holding last week when the offer was announced, but beginning to think I may have jumped the gun!
There is life on this board! Yes we have both been on AML, hundreds of post every day there. There are some promising companies who are lucky to get 6 posts a year on lse. Wonder what the psychology is behind that?
Normally I would sell my Grandma to make a few bob (not an easy task as they've been brown bread for years!). But I don't like this bid - ok I don't like the price, but mostly I don't want to see a good British asset caring for the UK elderly sold to some feelingless US Private Equity shark/vulture who will no doubt follow the usual formula of saddling it with debt and leave the residents (present and future) with paring down of services and escalating costs. Doesn't sit well with me. There is a place for ethics in investment. The BOD should be ashamed of this.
Seems a great disinterest amongst shareholders here. I cannot remember another share 'in play' attracting so few comments. Anecdotally I conclude that there is little or no support amongst investors to support this bid. Hopefully this means many will vote against this opportunistic bid, like I will. Keep MCS British!
Hard to decide what will happen here.
The SP persists at just over the offer price implying, that the market thinks tha the action isn't over yet. The comments I have seen in the press imply they think Lone Star are taking the p***. With a low shareholding there is a reasonable chance of the bid being rejected, especially as looking at the price chart over the last few years must mean that a significant proportion of shareholders will be in a loss position at 115p. This is reinforced by a feeling that the SP was probably at the bottom of a cycle with the aging population and leasehold concession meaning the business model is strong.
Conversely you have to consider what LS will do if the bid is defeated. Will they increase the bid? If not the shares will drop, and you have to assume that LS will bail pretty quickly while they are still in profit (you have to assume that their holding was largely accumulated at sub 80p)