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Buy-in now is equivalent to gambling.
Assuming no further bids come into play overnight, it's my honest opinion that it opens around £2.58p possibly move up to £2.64p with the remaining shorts buying back, I then expect it to drift back down to around £2.54 for the remaining week.
An open at 2.50 or below is definitely a good buy IMHO.
Just keep an eye out for the market in general, with all these inflationary indicators flashing red, it's only a matter of time before the central banks announce some scaling back of QE. The markets going cold turkey will not be very pleasant and will impact all shares.
8am even
Will this spike hard by midday? Thoughts, please.
The last time I was involved in a successful takeover - It eventually becomes a formal process with a timetable, including the shareholders vote.
After it became obvious that the successful bid would proceed, there were two options.
The first was to sell before the shares were suspended - this was at a very small discount to the offer price.
The second was to wait for the full payout - maybe up to a couple of weeks after the shares were suspended.
When do shareholders vote on this latest bid and if it goes through what happens to your holding? Do you just get cash put into your account @£2 54 a share, then mrw will be delisted or what?
Don’t know why people are getting all polarised, whether it is the final offer or there is more to come. The way I, who is a small time share holder, see it, I have 2.54 per share in hand. If a higher bid comes up great, if not, I am still sitting on about 40% profit. I will sell before the share holder vote if no new bid comes up. If a higher bid does come up, I will wait further to see if a bidding war ensues. Otherwise the higher bid becomes my get out option. It is quite simple really. Don’t understand what people are arguing about.
Monday is a holiday in USA
It ain't over 'til the fat lady sings. In this case, I think Amazon is the fat lady.
Sorry - that should read should not accept...
Shareholders here certainly should accept that the Fortress offer is the final offer - CD&R haven't even made a comment yet, so they could easily come back with a higher counterbid or someone else might make a bid - its never over until the shareholders have voted.
Well what ever they say take it with a pinch of salt.
Look at the Cadbury take over where they said they wouldn’t shut the factory In Birmingham, within a short space of time after the takeover they said were closing it down and moving operations to Europe .
If Morrison's didn't have all this debt of £3bn + then I guess an offer of £2.70 ish might have been on the cards but this offer must be equiv to what £3.70, so I still don't think there will be any more / better bids and I think MRW are lucky to get one this high with all the debt.
Under the GBP6.3 billion deal, the group of investors comprising Softbank Group Corp-owned Fortress, Canada Pension Plan Investment Board and Koch Real Estate Investments will pay 252 pence per share plus a 2p special dividend. The stock closed at 239.80p on Friday in London.
According to the announcement, the deal also includes GBP3.2 billion in debt, which makes the total operation worth GBP9.5 billion with debt recovery.Â
Jed, you clearly have no understanding of how bid situations/takeovers work.
jedclampit - if you are a shareholder the board must be praying that there are more like you.
It's definitely not a done deal, CD&R could quite easily come in on Monday with a £2.70 bid which would be more palatable to L&G. Fortress investment group are trying to portray themselves as the teddy bear end of the private equity spectrum, making out they are looking out for all stakeholders interests when infact they are asset strippers, whos priority is to maximise their and their shareholders returns.
PAY UP
You might mean something totally different by 'trading for ages at £1.50'. Most of 2017 and 18 it traded above 2.40. In 2019, it went as high as 2.60. Covid tanked the whole sector from which it will no doubt recover . So both bidders have done their due diligence but their offer may fall short in the eyes of others who have yet to show their hand or make their final offer.
I assume you are not a shareholder but an employee who is happy with the current employee terms.
Maybe this is the wrong BB?
here here. totally agree
It’s not a done deal.
As a shareholder I am happy but it’s not over yet.
I strongly disagree with your extremely foolish advice to ‘move on’ - why would you?
Only a fool would ‘move on’ at the moment.
Again perplexed why anyone would pass on such foolish advice.
If you are share holders you should be happy, this is the highest the sp has been for 3-4 years and I know thatr if we hold shares in any company that's being bid for we want more but I thinbk it's a done deal now and the bod's have agreed to it, so that must mean they will keep their jobs with this deal and wouldn't want to risk any other deal even if it's another few pence but could lose their jobs. Move on.
Hoping this opens in the mid 50s tomorrow as will be putting a few more in my basket....
It’s far from a done deal , just cos the board recommends it it doesn’t mean shareholders have to.
There are numerous parties having a look and this will go out nearer the £3 level
So I’m guessing you have no shares in this company?