Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Poor outcome for me also. £7.9 without the divi. That was the best from 3 months talk. Clearly both parties - Bain & Apollo wanted in on the cheap.
£7.82 is a dismal offer IMO.
My average is £6.99 and I was happy to hold long term.
Shocking stuff! Very disappointed.
A poor deal for me unfortunately
I had assumed that Apollo had the funds and were not seeking to burden the company with large debt.
Worrying that Bloomberg making comments :
Private equity firm Apollo Global Management LLC has, according to Bloomberg, had to fund the majority of its offer for FTSE 250-listed packaging maker RPC Group PLC in dollar and euro loans.
Bloomberg quoted people close to the deal saying the small portion of the deal that is funded in sterling is more expensive than the other currencies because lenders fear that a no-deal Brexit will damage the UK economy. This could cause the pound to fall further. .
Words - Majority - i.e. £1.5 billion. or more. A real concern
It could be extended further if all parties agree.
Patience is wearing thin but it's a possibility.
well - it has to be done by wednesday at the latest so not long now!
APOLLO-RPC DEAL COULD BE ANNOUNCED TUESDAY: WSJ
Apollo poised to buy for more than $3.8b doesn't help us. That is the current valuation based on closing SP.
I also think that it will be disappointing when another prominent UK company with expertise in the contentious plastic arena gets taken over by USA. The industry is not the problem - just the idiotic consumers who throw bits of plastic out of their cars hands. Education has taught them nothing - and Gov blames the usage of the product. Govt never proactive - only reactive.
Shorting of RPC shares has not helped - fingers crossed for a fair price!
I think that after all this time Apollo would look pretty silly, and harm their reputation, it they walked away. Wonder if they remaining issue is whether they come in at a price which has RPC BoD support or whether they launch a contested bid.
Apollo have had more extensions than the female cast of TOWIE.
I had literally just responded on our works Whatsapp group at 4.20pm that Apollo had until 5pm to make an offer or withdraw and at 4.22pm the RNS was released. I got my notification through VOX markets.
Well my opinion is that a deal is all but done with the price being the delay.
Clearly states Due diligence is complete, at that point theres apparently nothing in the accounts that would scare them away. And only extending for 3 working days is almost a "put up or shut up" to me.
If I was a betting man I would say 80/20 in favour of an offer coming in.
Originally thought £10 but will revise it down to £9.
BWTFDIK except its going to be an interest start to the week.
https://finance.yahoo.com/news/private-equity-suitor-apollo-gets-161052469.html
But this is just price isn't it?
London Stock Exch c15.40 states deadline extended to WED- Can't see anything on LSE
LSE not so hot with their feeds
MA
No RNS on LSE here or on HL. Did you pick up elsewhere?
Kicked the can down the road yet again!
Deadline extended to Jan 23rd.
...at the risk of sounding slightly contrary I'm also thinking that if there isn't an announcement by 4.30pm the an out of ours offer would make perfect sense. Give the markets the weekend to digest and all that....
I wouldn't rule out another extension. I think any entity looking to purchase a FTSE 250 company will want clarity on Brexit. As we don't have this at the moment I think there may be a further delay.
I wonder what 7am will bring?
Yet another extension? I think so. They do have until 5.30 pm to make an announcement though I think.
They are certainly conducting very diligent due diligence.
That was the UT rather than a buy
£2.7m trade @ 16.35 (buy) suggests somebody is the know.
Hope it’s the former could do with some luck
Near 3% uplift near the end. Somebody with insider info - or just speculative?
Just three to go
Little spurts of guesswork - Hope for the best. - Apollo have had months - is it just the price - ?? probably. Fingers xxx
Just 5 working days to go.
May we have a positive result please - for the sake of the company!