The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Hanoihank,
"This happened to Polygon when they tried it on another company" - out of interest which company was that?
That would be a £4bn buyout figure at £20 a share. Whilst I’d love to see it, feels a tad optimistic when looking at other pharma buy outs
Hanoihank/BeContrarian, I agree. And £2 was an exaggeration. But I think even at £5 we would be disappointed to see SNG taken out for that.
Regardless, I think Polygon have enough shares now!
Hey Doc,
Don’t think there’s too much to worry about on that front. Any hostile bid would still need to go through shareholders, anything remotely in the £2 region would be laughed out of the place…not that I see that as Polygon’s strategy anyway, I think they see SNG as being as potentially stratospheric as we do…
Doc, no chance of ghis happening. For anyone to get to 30% the price will be way north of £2. Thwn they make an offer that nhas to be accepted by I think 90% of holders. Easy to say no to a rubbish bid. This happened to Polygon when they tried it on another company. Less than 2% of holder said yes to them. They are buying here to make a large sum of money. As an inevitable by product all other holders will too. They are in it for themselves, not acting to help out a big pharma company get us on the cheap.
Certainly don’t want Polygon drop buying all the way up to 30%+ at these levels and then going for a hostile bid backed by a large pharma. At 30% they have to make a bid to remaining shareholders at the highest price paid over the previous year.
I seriously doubt this would happen. But you’d be gutted to have to sell out for circa £2! We ideally want another zero on the end of that.
Seaboy, certain kinds of shareholder voting is done on a one vote per share basis. My worry is that a hedge fund will have a very different measure of financial success to us pi's. I have felt reassured that they have been buying as it gives me more confidence in eventual success. However the larger their percentage becomes the more nervous I get of their ultimate motive.
Agree kiwi, I think Polygon have enough shares now that they can help ensure a good price is achieved were a bid made. But anymore and I think they become too powerful.
HFs and the way they operate aren't my strongest point. What could be a downside of Polygon owning too much of a stake? They're going to be passing 15% before too long so I hope it's not all bad news. I was under the impression it was a good thing having them on board.
But the more shares they own the more influence they have if something, such as a takeover, is put to the shareholders.
As such, and it is reassuring they are building their position, I'm not sure we want them to own too big a stake. After all, they are a hedge fund.
They can’t really affect it until they get to 30% but they obviously have a lot of shares now so anyone bidding would need them on board.
Look up polygoninv.com
Investment fund
Bruce you been asleep the last 6 months or so since they have been buying?!
The only Polygon I can find is a gambling site. They would not be able to influence a pharma company
who on Earth are Polygon?
buys and sells did not equal today
At what percentage can polygon start affecting decision making with regard to future takeovers etc?
I remember it was discussed at 11%
But the old grey matter was used up for the day
Knew there had to be big orders going through and price suppressed/held for it. I don’t know enough about the dark side of the markets but clearly yesterday’s price action was not simply because there were precisely equal buys and sells. Despite what some in here would have us believe. Onwards and upwards folks
Mikep, Brilliant
Surprised Doc hasn’t arrived to tell us a
“great end to the day”
Not a bad day after all, nice little rise, polygon increase and RM has 36 new twitter followers.
And the snowball gains even greater momentum! I'm trying to not get too carried away here (as per usual) but I think things are going to get very crazy, very quickly - the evidence is stacking up.
Seems to confirm the suspicion that there was a big buy going on in the background.
Nice.
Onwards...
As I said yesterday there was something fishy about yesterday’s price action. Activ2 confirmed and still below Activ2 rumour price. I personally thought we would easily see things settle around 200. Perhaps we will see that tomorrow.
Whilst I’m pleased to see conviction from polygon, a few poor souls were parted from their shares yesterday for much less than their true value, it really makes you wonder who the sellers were yesterday other than traders who cashed out having bought in at 130 a few weeks ago…