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Just received the dividend into my account this morning. The longer they take to arrange a shareholder vote on the better to give other interested parties a chance to make a counter offer.
Timetable yet to be published. Expect it will be published, by RNS, in a month or so.
When is the offer being put to the share holders for a vote?
I will hold onto my stake and continue to maintain my decent dividend.
Ok, well Apollo can kiss my swinger's.
I was reluctantly going to to accept their piss poor offer until I realised I had major stakes in my SIPP.
Samson
Yes it does - but if the bid is not accepted then it will fail.
Final never means final - it means that is the end position today.
Large investors will not be happy at the offer price. I am not - my main buy was at £8.41.
It states in the offer that the bidders offer is final and will not be increased.
I find it extraordinary that SLA have said nothing.
They hold just shy of 10% and the sale would be worth nearly £310 million. A third of a billion pounds!!!!!
Yet nothing?
Wish I was a fly on the wall with the phone calls that must be doing the rounds.
As no expressions of support have come from ANY of the top 10 holders with a combined 37.63% then what chance does it have?
I know its very early days but just cant this being accepted.
So maybe now, they will..increase the Offer price...Hopefully...impho...
Aviva have said they do not support this offer. I suspect others may follow. http://www.cityam.com/272086/rpc-groups-33bn-private-equity-takeover-sparks-disquiet
Don't the dates suggest recommendations from months ago? I can't see any key indicating that the 'Buy' being in blue suggests its been reviewed since the bid.
@OnePlusTwo, my bosses may disagree that I work for RPC, ho ho. But yes you are correct, although I'm not sure which site it may have posted on. Anyway, cheers.
After hours trades substantial - not just delayed trades.
Something afoot?
Something odd here. Many brokers stating "Buy" with a target of around £10.50 to £11.00 why is price for take over so low? Was expecting around £9.50 to £10.50.
The response to this offer has been less than lukewarm and it is significant that they have secured support from almost no one. If the large holders (backed up I'm sure by many PIs) refuse to vote in favour, it won't go through. Whether someone else will come in remains to be seen, but if not the continuation of this company under its own steam, presumably with new management at the helm, would be a preferred outcome for many shareholders.
Hi Blueskier - Seen you post on another site. Just wishing you all the best here as I believe you work for RPC.
And I am not giving in to £7.66 ( less costs) cf £7.82 on day one!
Maybe - reading the blurb below the RNS it seems that there is scope for expansion Stateside and Europewise.
I think the BOD are weak and should have seen off any offer under £9 ( remember the 12mth high at the time of the approach was c£10.30.)
That said SLA must be off peed because the offer price at this level is not what they were seeking.
Easy for analysts to screw any COY if the wrong slant is put on the analysis at a point in time without considering the longer term.
That's life.
Unlikely in my opinion. I've sold out at £7.69.
Little to lose if you are holding though IMO.
I am torn. Disappointed with the offer but would still take a bit of profit. Would love another party to surface.
However how likely is this to complete if no one else comes in?
Irrevocable undertakings by the directors who say they will advise close relatives to sell. And some small time investment company. Less than 2% combined. Hardly a glowing endorsement from the institutions. Wonder if SLA are regretting putting the for sale sign up at the AGM?
Maybe some of the competitors thought the RPC deal was going ahead at 900p plus, so might be looking at the low offer price and thinking of making a counter bid. Let's hope so!
And with the market price per share sitting below the offer price, it appears that the Market is not expecting a higher bid from another party.
Whilst tempted to sell and move on, I think I'll hang-on as I'm not so confident that another bid won't appear.
From mid 2015 RPCs sp was 600p and rise started to 1000p on their vision of the companies growth by acquisition in a fragmented market, que lots of plaudits in the press recommendations from Quester and others, everything is place for the sp to soar. Debt is well covered so no problem there.
Then questions about RPC not being as profitable as they suggest, the cash flow not flowing as much ad it should surface, surely RPC can't be doing as well as they say, look at all the acquisitions, the costs involved, so the sp starts to decline, the innuendoes continue and the sp continues to fall.
Why would anybody be interested in buying a company whose financial position is questionable, especially when the people buying are doing it almost entirely by debt, because they know they have backed a winner and all the negative spin about RPC over recent years has paid off handsomely, they are getting RPC on the cheap.
The average price of my holding is 800p so making a small loss.
It could have been worse - I paid over 900p for some shares back in 2017. Luckily during the takeover talks I sold some at 848p and bought back in at 791p. Sold more at 808p and bought back in at 747p to reduce my average purchase price to 800p.
Before takeover talks several brokers were forecasting a share price of >1000p, so it sounds like Apollo have scored a cheap deal. I don't see what benefit there is selling at this price, but the BOD are recommending the deal...
This is one of the few times that being a patient investor has not paid off. I was in here for the long term and decided not to sell at £8.40 a few months ago as I thought growth prospects were good and I was happy with the divis.
Now have to investigate new shares to the tune of 22k to reinvest.
On the bright side - no money lost, small profit of around 9.5% after costs...onwards and upwards!
GL all.