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I "expect" an offer on Monday, so my portfolio holding reflects this.
Nothing is guaranteed in today's markets, although all should take comfort that our TOP 3 holders have all ADDED significantly since the 11th on the open market.
Combined they have well over +30% of the votes as it stands.
Without their backing any deal would flounder on the rocks, instantly.
gla
aimo
if that's the case then load up !
Jim,
Agree, I would expect a board backed offer of +70p from Medco
Our board have had long enough to discuss with our major holders, that between them carry +84% of the votes, to get any agreement over the line imo.
I’m expecting an improved offer forthcoming either over the weekend or on Monday after Asian markets have closed.
Enjoy the weekend, for Monday it is then ....
gla
Do Medco need to report their position (offer or withdraw) to the market either way? Or can they just remain silent after until / after 5pm Monday and do nothing?
If they need to report their intentions then the fact they have not withdrawn is surely positive about a forthcoming offer?
....or indeed the original 58p. Even if they choose to walk away, those recent results show that all is well. Company is undervalued imo..
Nothing to Stop Medco making a 52pence bid and ignoring board
Medco are sure taking this one to the wire. I think they have until Monday to declare if they are in or out. Playing their cards close to their chest...probably hoping to spook holders into selling up and depress the SP as much as possible.
Artemis 1.84%
Standard Life 7.11%
Dimensional Fund 1.84%
Norges Bank 2.37%
Legal & General 5.22%
Ruffer LLP 1.15%
River and Mercantile Asset 1.24%
Nomura International 2.644%(-2.644% ?)
Prudential Plc / M&G 9.28%
State Street Global 1.1169%
Carlson Capital 2.525%
Schroders plc 0.686%
FMR LLC / FIL Ltd 7.13%
The Vanguard Group 2.95%
BlackRock 3.46%
Barclays 1.25% (short 1.26%)
Petrus Advisers 2.61%
Azvalor 8.325%
Bybrook Capital 4.3%
Hotchkis & Wiley 13.7%
Carlson Capital 2.375%
Total declared = +84%
Recent large 8.3's over 250,000 shares
Bybrook Capital added a straight 3,500,000 shares at 44.2563 on 11th !! note ADDED
Prudential Plc / M&G added +800,000 shares at 43.87 on Friday !! note ADDED
Petrus Advisers added +880,000 shares at 44.71 and 45.00 on Friday !! note ADDED
Azvalor added +300,000 shares at 43.46 and 44.86 on Monday !! note ADDED
Azvalor added +1,100,000 shares at 44.84 on Tuesday !! note ADDED
Azvalor added +835,000 shares at 44.66 on Wednesday 16th !! note ADDED
Azvalor added +490,000 shares at 43.03 on Thursday 17th !! note ADDED
Azvalor added +260,000 shares at 44.87 on Friday 18th !! note ADDED
Prudential / M&G added +450,000 shares at 44.9 and 44.96 on 18th !! note ADDED
Azvalor added +266,000 shares at 45.72 on Monday 21st !! note ADDED
Blackrock added +270,000 shares at 45.62 and 45.45 on Wed 23rd !! note ADDED
"Unbelievably quiet on here considering what is on the cards."
Yep, just the way it should be. Everyone's loaded up, no one selling
All the day traders are having their fix over on FLYBE
Unbelievably quiet on here considering what is on the cards.
GLA
21.5 trading hours for Medco to firm up on Ophir. I think we will be seeing something exciting
Hopefully an offer will be forthcoming but as time goes by I get less hopeful. Tomorrow is another day however and the moves by some of the larger IIs are interesting to say the least. In the meantime I have my eye on another oiler that has tickled my fancy, but not enough to jump ship here.
IMO, the possible deal is alive and well.
Whether it's an offer that's acceptable is a different point all together.
An offer will be made by Medco for our SEA only imo.
Next two days, esp Friday will be interesting.
gla
I don't see an offer coming now from Medco, they know a low 50s will get rejected and they probably can't afford an offer which would be acceptable to most ie 60s. So hopefully they withdraw, we plough on earning a mountain of cash, reducing debt and purchasing other assets. Having said all that an offer RNS will probably arrive at 7am tomorrow!!
Held up well today when every other stock in my portfolio has taken heavy hits.
Haha, I was thinking exactly the same as you...I can't make head nor tail of what they're up to. If anyone does know it would be appreciated if they shared.
Investec added a small number yesterday.
Can anyone make sense of what Morgan Stanley and Nomura were doing yesterday?
Thanks New, Interesting thoughts, not long to wait now until the news chapter is guaranteed to start! I'll also keep a close eye on the RNSs.
IANAA,
I will use the RNS's as a guide .... should the holders keep adding whilst holding the sp down, then Medco RNS will arrive Monday imo.
Should the SP start to race away, by that I mean break 50p and hold above, then news will follow shortly.
All a guessing game, but as far as I'm concerned all is still on track atm.
I added yesterday on market pullback.
gla
New - do you think they'll wait till the very last minute? I was thinking sometime this week, maybe to catch people unawares (as at this point they must know what they want to bid), that's if they're actually still interested in bidding. Also, I'm assuming the two companies aren't really talking directly now, at least about the full takeover bid as they're so far appart. It could be that the 3rd parties are drawing up plans for asset sell offs and swaps and what not and acting as intermediaries.
Next 3 days will be telling.
Keep an eye on RNS's, with Monday being the start of the fireworks imo
gla
Remember you only see the gross position from Banking names, they have a number of desks and typically these days don't run prop positions like they did pre 2008, most holdings are usually hedges to OTC client trades, so it's tricky to break out their activity. Also given MS are advising the wall between IBD and equities will be monitored for manipulation....
Morgan Stanley reducing or going short?
https://otp.tools.investis.com/clients/uk/ophir_energy/rns/regulatory-story.aspx?cid=1111&newsid=1226862