Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Well they all know the price to beat now. This opportunity won’t come around again.
Counter bid from International Paper would be nice!
Hopefully the bid will bring out some American money.
There's hopefully a chance of a counter bid from another player yet
It's not a great deal for shareholders, but no doubt the directors are being well looked after with their new jobs within the new co and large pay rises to much,so what do they care?
Who knows? 373p whether it's shares or cash is on the low side IMHO. They will have to look under the sofa for some more pennies. Maybe there will be some other sharks wanting a nibble who might declare their interests now. I think 400p is a more reasonable offer yet still may be rejected by SMDS. Anyway, fun times.
I Think its a done Deal Most of the Board of Smiths have jobs in the New combined Group
We will see tomorrow what the market thinks. I don’t think it’s enough.
It's an agreement in principle so not definite yet- I should have added 'in principle' to my header. Work to do behind the scenes no doubt. It's hard to see where another bid will come from but Mondi will hold the cards as they will want over 50% of the new entity.
"Should jump to 373p"
I'd be surprised. It's not a done deal - and it's in shares not hard cash. My guess is somewhere in the 360s.
Should jump to 373p with plenty of volume. People will be setting their limit sells around there already.
No Lurka, it is is still not a firm offer.
That is why it is extended to April 4th.
As I said I think both sides will have sounded out some large shareholders to see if they were happy with it,.It will still need shareholder approval if a firm offer materialises
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 I’m wrong. Just most of sales