Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
I wonder what price it will open at tomorrow.
Bottom line, reject and carry on. Smith (DS) will eventually see its share price trading higher, 400p+.
Smith DS market cap today is about 42% of the market cap of Mondi + Smith combined. Smith is coming into the all share combination with a lower PE than Mondi (at least according to the PE stated on the Hargreaves and Lansdown website). If the valuation on the market is not changing, the Smith (DS) shareholders are actually seeing their shares trading at a higher premium, so exposed to more downside in unfavorable market conditions. The only hope is that the combined companies have more breath for growth.
Mondi is not giving Smith (DS) a great deal.
Well the Board are happy with 373, being an all share offer the value will fluctuate as The Mondi shareprice fluctuates.
Cannot see personally where another bid is coming from.
One assumes they will have spoken to some large institutional shareholders to gauge their opinion and support, and would not recommend if the replies were not positive.
Have to wait until April 4th at the latest now.
Yeah reject and wait for 400p then accept.
Pretty much what I expected back on Feb 16th was it?
Is it definite? Not clear to me
Really surprised here. 373p ??? What is our management thinking? I had 400-450p price range set and even then looked like bargain price for Mondi or any other taker. Well lets see what happens next. Gla
Reject 373, need 400+
Valuation still seems low.
It wouldn't surprise me to see more bidders come in similar to Wincanton situation
Implied SMDS share price 373p for 46% of the combined entity
Okay all, thanks for the views and knowledge re Mondi. The bottom line is that the important deadline is 5:00pm, not 3:00pm. The current price action of SMDS doesn't seem to be giving much away as to what may happen (or not happen!) by the deadline!
British or not? I'd say it is but that's a conundrum for the govt when it gets the British ISA rules sorted.
Mondi main markets USA, Europe and South Africa. I thought their Headquarters were in the States but Iām wrong. Just most of sales
Originally a South African company, they are multi national, Mainly Europe, headquarters in Weybridge, Surrey.
So you would probably call them British?
Wayzgoose,
"with Mondi being American"
I thought that Mondi was British.
You're not thinking of Mondelez are you?
If there is going to be an offer I would expect it to be when US market opens with Mondi being American
Thx for clarifying Mardler.
Or they could apply for an extension to allow further time.
Mondi has until 5.00pm to announce a formal offer or walk away.
If there is an offer then the Smith board are bound under the Takeover Code to announce it
Immediately to the market.
They cannot sit pondering on it for a few days.
Expect an RNS one way or the other today or at the latest pre market open tomorrow.
My understanding is that Mondi need to have told the SMDS board whether they INTEND TO MAKE a formal offer. Not table the offer itself. Or publish it.
At the point where an offer is made then the Board would normally consider the offer before announcing it. This would take a few days.
Never give up sasa š
No further explanatory message, then... sasa.
the moderator has deleted with ****** my reference to a ************** offer initially but you'll no doubt get my drift - sasa.
my comment on the t/o situation here wasn't a prediction, alessandro, it was a guesstimate of what might transpire - a big difference.
there are several variances at play now on this being the 'put up or shut up' day - e.g mondi's original preference was for a ************** offer but this could change by either being accompanied by a cash underwriting, too, or an all cash offer to gain acceptance by the d s smith board and there might also be a request to extend the deadline to facilitate a deal or nothing at all, in the event. we'll soon know...
it's interesting to see the sp picking up sharply this morning if nothing else - sasa.
No worries either way if you're a LTH.