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good luck all
Thank you for your replies.
yeah I got that message too after my last post.
Looks like there's unlikely to be any different outcome, like i said with ANN's share vote and the share volume with voting rights they've accumulated, it's effectively a done deal, even if a better offer was put forward from NEX.
I'm watching the small share price fluctuation and will sell very shortly, so long as i cover the same money as the deal i'm happy, and wont have to wait around to get my money
Duka
FYI, below is the message I received today from H&L.
The Boards of Inframobility UK Bidco Limited and Stagecoach Group plc recently announced the terms of a takeover.
Under the terms of the takeover you’ve been offered 105p for each share held.
If you don’t want to accept the offer you don’t need to do anything at this time. Depending on the level of acceptance the bidder may seek to delist and/or compulsory acquire any remaining shares at a later date.
Accept the offer – Act by noon Thursday 19 May 2022
Think there was a date near start of May
No Corporate Action notification requiring response in my H&L account, that sounds like yours has already decided its final, if so they should have set an end of trading date.
Yes. option 1 will give you 105p per share.
Option 2. you will keep your shares unless the takeover hits 90% of all the share in which case you will be bought out for 105 regardless.
Hi, I am quite new to this, I have received a letter about options in take over, if I choose option 1 and take £1.05, I will get that for each share, and no longer hold any shares at all , option 2 default will leave me with share in the new company taking over?
meant this RNS.... "Offer Update - Threadneedle Share Purchase"
by Pan European Inf, that Bidco is buying up a controlling stake to force their purchase through, along with ANN who has agreed to the deal already, giving them over 27% of the voting, i think i'll be out of this monday morning if i can get 105.4 or higher which will effectively give me the same cash as the deal taking into account my sales fees.
I am interested to kow what this section at the bottom of the RNS is all about, whereby after Threadneedle have sold the shares they say this...
"Threadneedle has notified PEIF III Bidco that, as a result of selling its entire interest in Stagecoach Shares, it no longer intends to comply with the terms of the letter of intent provided to PEIF III Bidco on 9 March 2022."
wonder what letter of intent they are referring to
not unsurprising
The market doesn't share your belief. It's unlikely.
Yesterdays daily mail says Brian Souter is tied into the NEX deal but Ann Glogg is not and she wants the cash.
I'm wondering if NEX will be considering talks with SVC with an improved offer over the weekend.
I wouldn't be surprised at an offer of around £1.20 from them coming in early next week.
Think ANN is for taken the cash.
Yeah, I was reading it earlier looking for some sort of extra incentive, but couldn't see any, I think this is going to come down to those picking up the shortest term benefit/bonus and having the power to influence it, so i'd be looking at the deals the BOD and executives get, because low ball or not, 105 is a firm offer, and even if the potential longer term return is 100% more, my money will be on them selling it down the river and taking the cleaner/faster cash settlement and moving on.
I wonder if NEX had been buying up shares in the back ground ?
NEX talking up share deal.
Does anyone know when the deadline is for bids on this company ?
for me on this one was 140, so i'd have been holding for a while longer, as i figured there was more recovery to come, but i'll take 105
Yeah I had noticed that (i also hold NEX lol) and their share price recovery has been fairly good, but since the announcement that there is another offer on the table, it's almost as if a weight has been lifted and it's moving faster back towards where it was.
I think at the price they were willing to pay, it was better for NEX than SGC, but now, I'm not so sure, obviously they wont make a rash snap decision, but I do think at the end of the day, it will result in them not making a counter offer.
@Crystal. I mostly agree with you on this, but there's a small point that I am following that you may not have seen. NEX have not said they are walking away and taking their bid no further. They've been seen to be saying "We're considering our options". If they'd taken the mindset they're not interested in pursuing SGC,maybe they'd have said so? That to me would have made some kind of sense to perhaps gamble on getting a better price?
The fact that they've said "considering options" implies they're still interested enough to look at what else they might want to offer. This is pure speculation on my part based just on my take on it of course.
the market thinks there's going to be any counter offer, the SP is stubbornly stuck at the 104.9 /105 level, and hasn't ventured over, i've seen other shares that have been in bid situations go well over or sustained a level over the bid because expected counter bids, and this is just not behaving like this.
Usually i'd sell out on one of those spikes and ensure i'm slightly over the bid and cover any trading fees, but this one it looks like it may be a case of better to let it ride out and get paid the slower route.
I'm not sure that it has. I think they'll come back with another offer. They've not said that they're walking away, just "we can't say anything". Why would they say that if they're not thinking about something?
I think there's a bit more mileage in this. We shall see.
Glad the NEX deal failed. They've been running a very poorly used coach service since Covid closure. See the darkened windows with empty sear shapes going through London daily. Must have cost a bomb. Good otherwise Showing Germans how to run trains and Spain/N Africa and of course Midlands buses. Gone from London.and Stagecoach are strong here. Shame about SWT and in all likelihood they'd have got South Eastern but train franchises are history now. Founders reckoned a £share was a good sale so they'll be happy and the company hopefully will go from strength to strength
".... and look forward to the Mayor securing the significant taxpayer support required to deliver the franchising system"
In other words, the mayor is going to have to go cap in hand to try and scrape the funds out of tax payers coffers, and Stagecoach don't think it'll be possible, this buy out might be good for us, because I see the GMCA being a bit of a millstone to be honest