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See the way I see it even a low ball offer of say 55-75p is multiples from where we are now. Just a case of holding your nerve as the BOD have probably been courted by a few interested parties - expect some traders talking about numbers over the weekend. This distressed behemoth will find a white knight pretty soon!
Industry insiders suggest that a substantial offer is on the horizon, with a prospective price of around £1 per share, as several major players are believed to be in the running for acquiring Petrofac.
NHill.....
You seem very bothered for someone not invested here.....
Please provide facts ?. Speculation in press mean feck all
The second article discussing an agreement with noteholders being nearly reached seems much more likely.
Thank f^#k for that.
I can’t see this not braking a lot higher………Takeover or cash injections coming ……..Story below and the Shorts WILL cover and have been this morning
Leading oilfield services provider Petrofac has seen a significant surge in its share price today, up over 21%, driven by an uptick in investor confidence, as rumours of a takeover mount.
Industry insiders suggest that a substantial offer is on the horizon, with a prospective price of around £1 per share, as several major players are believed to be in the running for acquiring Petrofac.
Among the contenders, the names that have surfaced include Schlumberger and Halliburton, both of which are global giants in the oilfield services industry. Acquiring Petrofac could strategically enhance their service portfolios and expand their market reach.
Another potential suitor is TechnipFMC, a leader in subsea, onshore/offshore, and surface projects, which might find Petrofac’s engineering and construction services highly complementary to its existing operations.
National oil companies such as Saudi Aramco and ADNOC (Abu Dhabi National Oil Company) are also speculated to be eyeing Petrofac. These state-owned enterprises have been actively expanding their oilfield service capabilities and could see significant synergies with Petrofac’s expertise.
Private equity firms, including Carlyle Group and Blackstone Group, are known for their substantial investments in the energy sector and might view Petrofac as a valuable addition to their portfolios. Their interest could drive the competitive nature of the bid process, potentially leading to a premium offer.
Additionally, international conglomerates such as Mitsubishi Corporation and Siemens Energy have been mentioned as possible bidders. Their diversified interests and strategic goals in the energy sector make Petrofac an attractive acquisition target.
Regional competitors like Wood Group and Lamprell might also be considering a strategic takeover to consolidate market share and enhance their service offerings.
While the exact details of the potential bid remain undisclosed, the surge in Petrofac’s share price reflects growing optimism and anticipation among investors. The coming days will be crucial as the market awaits further developments and official announcements.
For now, Petrofac continues to be a focal point in the oilfield services sector, with its future potentially reshaped by this significant takeover speculation.
They are a news service trying to substantiate why there share price has risen drastically and using rumors of a takeover as the narrative. They are naming every company they can think of that could be potentially interested in Petrofac, absent of any evidence or likelihood that a takeover is in play.
I've seen it so many times, uninformed new services trying to find a narrative to explain why a share price has moved, when in reality they haven't got a clue.
Some of those names haven't been mentioned on this board so the article might be actually based on 'real' substantiated rumours! It feels like most auto trades are on the buy side which I always feel is a positive. Still nervous though.
Earlier post by jma https://thefinancialanalyst.net/2024/06/06/petrofac-noteholder-agreement-boosts-propsects/
Interesting how everyone views it differently which isn’t a bad thing as none of us know what’s going to happen and adds to the discussion. My view (right or wrong in the end) is that if wanted to takeover I’d be doing it pre D4E when the company is in a distressed state.. otherwise after than happens the new equity funds will be looking for a much larger return and so you would end up paying more for the business
Subtle negatives, order book is bursting.
NHill:
and yet we have this today :
Https://thefinancialanalyst.net/2024/06/07/petrofac-shares-surge-amidst-takeover-rumours/
word is out....
NHILL Agreed
Fair play to anyone who has profitably day traded this. The risks of holding this after each session closes is huge, as the risks of an RNS with a rug pull could happen at any time.
Reasons why a takeover is extremely unlikely at the present time:
1. Change of control clause on the $600m bonds. If there is a change in ownership of the company, the bonds need to be repaid once this happens.
2. Somebody is going to have to inject circa $200-300m in the short term to prevent administration and repay the upcoming revolving facility and term loans due later this year.
3. On top of this they would have to pay up for the existing equity (which unless it is a big premium most shareholders aren't going to go for, so it'd have to be a few hundred million plus).
Nobody is going to stump up close to a total of $1billion of capital / finance to buy the company in it's current state.
Any interested parties will either wait for a D4E swap to happen, which reduces the amount of upfront capital that needs to be injected to clear the debt obligations, or if the D4E plan fails, any interested parties will pick up the parts they want in administration.
Most likely outcomes:
D4E with significant dilution (existing shareholders might end up with 10-20% of the company post dilution in a good scenario).
The above fails, they go into administration and shareholders are completely wiped out.
Be careful.
Yes likewise. I said it hit 20p this week
Expect 27 before close
I was mocked by a few here when the price was 14p and I suggested 20p+ …….Ivor appears to see it differently now
Going on the performance this week:-
Shorts Closing ✔
Takeover✔
Finance Sorted✔
A takeover is brewing. PFC is at a significant discount to Wood Group currently with huge upside potential. A prospective buyer that has liquidity will see through the liquidity issues and buy this on the cheap. My guess 80p to £1 offer.
Where do you see 6 pending updates to shorts?
I'm with Tally and PFCV. Averaged down on the reopen and sold the lot this morning. Didn't double my money but given the risks, I'm not going to be too greedy.
Or was that 4 days😀👍
Looks like there are 6 pending updates on the Shorts list but not annotated yet! How exciting!!!
Good Morning Fellow PFC Shareholders,
WOW... What a difference a week makes...!! Doom and Gloom... to a ray of sunlight and hope!
This morning we found ourselves in a precarious position... Hold and wait for the Takeover RNS or cash in our chips and double our money...
We were divided in our opinion purely because this is arguably the worst BOD that we have experienced to date and this says a lot considering we owned Amigo shares for a period and they were a close 2nd....
Too any quality CEO this is a easy fix but our confidence in this lot has reached an all time low.
So for now we chose the easy exit and we bid you all farewell and wish you all the best with the outcome!
Onwards and Upwards PFC Shareholders
Over and out the Talisman!
And sorry you can’t compare petrofac to lamprell.. completely different scale .. lamprey struggled against larger (tier 1) competitors in rig building plus we’re exposed to the exploration market. Petrofac cover more of the lifecycle that not many globally can do.. I’d guess you would want to keep the brand as carries weight across the globe in the industry... as I said, not great the position it’s got into but there is potential for recovery/ takeover
Shorts come to mind... They're in an inferno and all the exit points are closed!!