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IGT have come in with blow out results on the nazdaq , up 6.84% at 19:17 p.m. They might fancy a punt!
May not have long to wait, nice spike up into close, I also see Psquared had reduced short from 0.67% down to 0.27%..... maybe a sign of stirrings behind the scene
My money is on Scigames waiting. They know playtech well. THey have a joint operation and a 6billion war chest doing nothing.I am with wolfhound on this, a possible auction. I know it is history, but playtech was once £10 p share, no reason why not again ! Would not that be a nice xmas present! GLA
It is rumored that Gopher will make a 3B GBP offer for PTEC. It means that Gopher adds 300M to the Aristocrat 2.1B equity offer. In this case the new target price is 2.4/2.1 x 680 = 777
Just managed to get back in with half of my original stake , unfortunately exactly 50p more than originally sold at 6.77p. Reckon i will not regret it.
Looks like what i have sold and taken out i will have to put back in. £8 looks like a final figure, any more a real bonus. Reckon around 4 p.m. should get me the lowest buyback.GLA
Yep, and a Hao Tang just bought 9mn shares....
Gopher hold almost 5% , and TT Bond ( their advisors) hold another almost 5%
The HK connection has yo be pretty strong here..... Paul gas the betting connections and Gopher and TT Bond have the capital raising ability......
Looking positive for an increased bid , LSE will have to set out the timeframe by which they must bid... I am hoping there is a 3rd/4th bidder yet to surface
Mr.paul now owns 11.2million as of today
And that downside risk just got bigger for psquared with news on Gopher, who if they want Board support will need counterbid at least 10% higher so a new floor of 748p, call it 750p min, more likely 800p , and who knows who else has been sniffing around, Board are reacting to press speculation so I suspect there are others in the fray, so Board have an obligation to maximise that interest, it is unusual to get a bid before even holding the court
GLA
Gottya!
Hi Stefan05, the downside risk was in relation to running a naked short when it was shorted at around 717p . Th downside risk is there is a bid - say 850p + for arguement sake shorter would have a big hit ( their downside) , on the other side there is a floor of 680p , bear in mind as an agreed bid the risk of it not happening are pretty slim. So likley max upside is 37p versus a downside of possibly 133p+ ( poor odds for a trader)
Wolfhound. Agree with your earlier post that on a risk//reward basis the downside is greater than the upside.If due to regulatory problems aristocrat could walk away.SHares could drop £2+. only scigames in the running as far as i can see. our chinese friend is just speculating,and he is very good at it. made 1/2 billion at it. owns all the ambassador casinos around the world and Birmingham F.C. as a plaything. Have kept 10k just to keep in the game and ride with it.GLA
Most welcome Early Retire, lets hope so, has feel of a coiled spring about it ??
GLA
Thanks wolfhound - much appreciated, wasn't aware of more speculation! Great to hear, hopefully there's more rumblings and a bidding war breaks out!
Hi Retire Early
The premium is being driven by speculation of a higher bid materialing, see recent posts o this thread as to the background. This is the 3rd time we have seen sp spike in last week or so to 717p so market clearly feels speculation has merit.
GLA
Hi chaps,
Looking to get some advice/consensus as to what's going on (I appreciate it'll likely be "my guess is as good as yours"!). Bought a few of these for my SIPP mainly for divi payouts and had forgotten about them largely until the massive jump on takeover news - so that's been agreed for 680p in Q2, and the rise up to that I completely understand...
What I don't get is why the shares are at a premium to this, nearly 40p more than they'll be sold for in a couple of months? Can anyone shed any light on why this would happen? Feels like I should sell up now and take some extra profit on top of the sale price, but can't shake the feeling I'm missing something?
Paul suen cho hung now has 3.2% of the shares which is approx. 10million. Is this the reason for the share price movement and if so I hope he buys more and makes an offer for the entire company. Fingers crossed and good luck to all holders.
Back at 708p , thinks must be hotting up
GLA
Interesting, just as sp spiked on29th October @717p, p squared asset management opened a short on 2mn+ shares on a stock that has a 680p offer floor and speculation of a bidder..... not a great risk/reward call IMHO 37p max payoff per share -v- maybe a downside of £2 possibly £2.50
Ever get the feeling someone is trying to hold sp back ....
Shorts have been know to cannily close just b4 a new bid..
Mr.Paul suen cho hung has now bought 8,936,979 in total. Up from 6,085,049. Please give me a ring!
With such a high premium i thought it was a done deal.Sold 80% but still have the cash. Will have to go back in if it does not rise on opening on Monday.Very happy with the profit made but like all investors i would like a little bit more.
Yep and it seems like SciGames may not be the only ones....
https://www.gamblinginsider.com/news/13555/jason-ader-exclusive-nothing-preventing-igt-apollo-or-scientific-games-bidding-for-playtech?__cf_chl_jschl_tk__=pmd_X6mHBdUdhG8yk5oL.IQXFSCsKLbJh84BCQG1CT4O1QY-1635536723-0-gqNtZGzNApCjcnBszQg9
Its all to play for......GLA
Wow, what a good read. 6billion war chest and were integrated before the aussi,s came. They must fancy it.
Thanks Stefano, it seems the rumour bidders k ow playtech quite well and interestingly just sold their lottery division for $6bn and had done the below strategic tie up in July, 2+2 ??
https://sbcamericas.com/2021/07/19/scientific-games-and-playtech-agree-mutual-distribution-partnership/
GLA
wolfhound.full name paul suen cho hung. you found him. well done.