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I'm inclined to top up now for an easy 7%, seems like they will accept 387 and maybe another bid will come in. Rude not to imo
Also happy to sit this out, these P/E have been after network for a time now with previous offers rejected, looks more promising now management recommend it this time
And they wonder why no one wants to list here anymore, and why UK companies are being sold off. This would be double in the US.
Price sitting around 362p they are taking the pee!
If this was shorted the other side of the Atlantic then they will be waking up to an enormous headache.
I was thinking Mastercard too, they hold about 50 million shares, they're not getting mine at 7% discount today, taking the pee. WG group are trading a lot closer to their offer
It's a fair offer but Mastercard might come out with a higher offer given Netw skilfully negotiated the pandemic and grew in Africa and the Middle Eastern region I suspect will be highly lucrative.
I'll hold to realise the full monies or a higher offer.
Agreed, it's a decent offer. I notice M&A activity has increased recently, KAPE and Wood Group both with offers that have disappointed, and DPH last week too shown a possible offer that seems fairer, and so too NETW with this. Does this indicate private equity and trade buyers think that valuations are likely to rise from here and this is their moment to strike, if so could be an interesting catalyst for other likely candidates. Good to see NETW at this 300p+ level, not used to that. Have a good day all.
Fair offer and happy with that
You have to be mad to continue with any form of short position on this now as they look in real jeopardy now.
Only got a small holding of 2500 in an Isa, picked up late march at 245. Had expected to hold for a while but nice when things work out better than you expect.
I think tomorrow will be fun probably 340 plus, as this offer looks like it has legs
Plus there's a trading update this week, should be interesting.
Be interesting at what price it opens in the morning possible 360p+ ?
Bloomberg were on the money with the bid in the first place and clearly have informed sources close to events. It's clearly saying things negotiations are at a more advanced stage and citing the 380p and 400p numbers.
Looks like the Board are trying to negotiate the higher number for a "recommended bid"
Either way it looks like a good next few days and weeks and that an offer could be dropping sooner rather than later.
Surely it must be time to top up first thing if talk's will be around 380p?
I will settle for that,will not be making massive profit but at least a profit
Assuming bnnbloomberg sources are good surely it's fill your boots time!
Looks like a nice premium yet to come. 380p to 400p
https://www.bnnbloomberg.ca/cvc-is-in-talks-to-buy-network-international-for-2-billion-1.1908139
Trading update next week should be interesting.
All 3 companies with over .5% reduced their short position yesterday ,only kuvari-partners-llp have more then .5% now
I'm no expert but it must be a very risky game shorting stocks at the moment many companies like NETW seen as cheap are lately being the subject of bid speculation on the London market, this is my second in a number of weeks. GLA long term holders.
Good to see some confirmed interest in the company, and I wonder what sort of price they're discussing. Target prices are some way higher than now, and even at this good rise this pm that has to be seen from a very low base and months of seemingly endless algo bot low volume trades. Yes granted there are some difficult economic headlines but NETW have reported decent figures thus surely something 370+, I wait with breath abated.
"The company had received approaches from several suitors in recent months, including CVC, people familiar with the matter told Reuters. Bloomberg was first to report news of CVC's bid."
Shall sit patiently and let this unfold.
https://www.msn.com/en-gb/money/other/payments-provider-network-international-in-talks-with-private-equity-bidders/ar-AA19P05B
I think they are going to have to close for this share price has been higher just off its own back on regulatory updates.
They will need to be talking higher numbers imho
JPMorgan are also short here, 0.6 %,
I'm sure shorts are still trying to control this one, be interesting to see if they all close out now, scumbags