The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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+ points
1- Apollo & Bain interest - interest pre Sept 10 and still ongoing.
2- Rules allow an extension
3- Due diligence has not identified concerns that has resulted in either party wanting to exit
4- Good trading update -
Guess it is just about the price. £ : $ is one of the key drivers since £ is so weak. But PIs are so vulnerable - ( were there so many stop losses triggered by MMS?) shorters at c8% and they don't appear to have closed out- certainly will be quite an eventful next 28 days. GLA allLTHs
I an not saying a bid will not happen, I and my wife both have substantial holdings and I certainly hope it happens,
just trying to point out the facts.
Best Wishes
M
Happy to agree to disagree Mardler.
Could not be happier with the outcome today and time will tell which one of us is correct.
All v best
FC
We shall see but I wouldn't hold your breath
You are way off the mark Furry.
It does not just contravene SM regulations, it would be a Criminal Offence and anybody involved in this sort of thing would be prosecuted and imprisoned.
Read the rules on Takeovers and Mergers
There is no guaretee either will actually make a bid, both could pull out tomorrow or any other day.
What is the shareprice telling you?
The market thinks it unlikely either will make a bid, and if they do that it will not be much above current market price.
Todays announcement may well cause the price to bounce a bit tomorrow morning, as both parties are still interested.
Pandy, this announcement came after hours. It’s huge for us PI’s.
Surely others must see this???!!
Anyone?
Even more pragmatic than me!
This is two parties involved in a bidding contest.
I have no doubt about it. All totally in my opinion and happy to accept that this sort of thing contravenes SM regualations.
GL!
The share is worth less today than yesterday. Think I'll keep the champagne in ice myself.
There is certainly no bidding war going on, if either had made a bid it must be declared immediately to the market.
However, both are obviously still interested and are still looking at the books.
All scenarios still on, a bid at any time, pull out at any time. We could have a bidding war, but it will be conducted in public.
GLA
About as good as you could possibly get! Two parties locked in a bidding war coupled with a robust trading statement??!!!
I’ve been sharedealing for 25 years and I’m a cautious pragmatist by nature.
Champagne moment tonight for sure. GL all!!
I guess it's good news that both are still in the mix. Could it be there is a bidding war going on?
We will just have to sit it out.
just shot up to 790p and its after 4pm.....leaky ?
@gammybaby, it wouldn't surprise me though. This share game is enough to send anyone loopy.
Not sure I would describe it as exciting when I have my employment, my pension and a pretty significant quantity of shares all in this company. I am torn over which outcome I would prefer. A nice profit on the shares would be welcome but the ripples from the RPC takeover of bpi are still being felt.
I wonder if no offer is tabled if we could see as low as £6. It would be a huge over reaction if it did but that seems to be the way of the market nowadays. People don't want to seem to want to invest in solid profitable companies but chase rainbows and when theres no gold today they go chasing the next one.
GLA.
@bluskier....Noooooo im not schitso....LOL!
I agree on that we will need to wait till the end of the day......i didn't agree that just because its the last day, no bid will be forthcoming. Indeed I hope so - I have approx 5500 shares....and it will make my day if it happens! If it doesn't - ill just hold - its a matter of time before this gets taken over, or bits sold off. I think worst case - well be at 650-700p with no takeover, and maybe 1250 with a takeout...hopefully 2 parties...bidding each other !!! GLA all holders;)
Got to admit...its exciting though......either champaign......or vodka LOL well see in a few hours!
@gammybaby thought you were turning schizophrenic there. :)
Of course that can always be the case but I would have thought it would be the exception rather than the norm.
Plus with two parties showing interest and neither declaring that they are pulling out then that should increase the chances I would profer.
id have to disagree with you - Inmarsat went to the last day on PUSU - and no bid was forthcoming ;(
I agree with you. The shorts will have to close their positions by close of play - and im sure well see a tick up or down around 4pm from a leaky source.....
They can only release an RNS of this magnitude out of market hours.
For me, any discussion that has no hope wouldn't usually go to the last day. So they would know by 7am this morning if there was no chance of a deal. Price sensitive news has to be released at the earliest opportunity.
There will be an after hours RNS. It could be two no's, one no one yes, or even two yes's. The finalised deal doesn't have to be tabled to extend the offer period.
Would either of them want locking out of any approach for the next six months when chances are if no offer the SP drops giving another party a cheaper entry.
I guess we will know in 3-3.5 hours.
That's why I see no major downside whatever happens today. No deal, continue as a long term holder and keep taking the decent divis. Alternatively take the money from the PE purchase and invest in new opportunities elsewhere.
On balance I would prefer the latter as have eye on a couple of other opportunities but ltd cash currently available.
Either way exciting times!
Having also watched four players all look at IWG, I'm getting used to the excitment of potential takeovers. Have to say that I'd prefer to remain independent; why let someone else take my future profits?
To make clear I have received no indication that my assumptions below are correct. Purely my personal opinion!
Spoken to IR and they confirm the trading statement will be released at some point today, no timings given.
IMO the reason for this is that they are still negotiating with the interested parties and all the news will be issued at once. I think RPC is an outstanding play for PE (a bargain) and that the BOD feel that they will realise their ambitions sooner if the company goes private, I genuinely think there will be an offer today AND a decent trading statement.
Sticking by previous predictions of £11.50ps - Pretty Bullish eh?
All my personal opinion. Very important to make your own mind up and DYOR.
youre welcome! Ive topped up - at these prices and PE 0f 9 - its a steal!
Massive thanks for the link. It's pretty neutral IMO.
All best FC