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So good job we received a bid otherwise the price would have fallen...growth next year expected but at a modest amount...
Anyone of these.
https://craft.co/viavi-solutions/competitors
The market is saying yes, the offer is 175p and we are above that already
o 172.5 pence in cash (the "Acquisition Price"); and
o a special dividend of 2.5 pence per Spirent Share, in lieu of any final dividend for the year ended 31 December 2023 (the "Permitted Dividend").
Maryb,
I'm also thinking another bidder will come to the table it's just a matter of when. I see the Wincanton bids were spaced out so not sure we will see anything immediately. Interesting to see if the price goes over the offer tomorrow.
Nice calling a possible bid in 2024 the day before one landed๐๐ I'm going to sit this one out. Need to keep an eye on DLG as well.
BKB
Good evening, Any calls here? Anticipating a 2nd bid, Viavi was not the name in the frame I had in mind.
Viavi Solutions dates back to 1979, when Uniphase started in a California garage before splitting in 2.
I note Viavi used to be a $600 share in the dotcom era - hit $8 and now at $10.81 up 11.1%.
A white knight is coming over the horizon.
Viavi will be keen for this to go through to get the additional investment from Silver Lake which is based on the deal going through. Viavi up 10% currently.
'As part of the deal, Silver Lake will invest $400m in Viavi Solutions'
Could be - have been in plenty of bid situations before and for it to hover above the offer at this stage usually means only one thing.
If the buyers are buying for votes then they know they are getting it at a steal. I follow this closely and it is stumping me (in a good way)
Mary
could be ...but..
I wonder if it is just the buyers soaking up the sells to get the Voting Rights to get the vote through ??.... if they buy at 175p they get the 2.5p special dividend if it goes through...so they wont mind so much
maybe buying today from small holders who may not vote anyway
Is this true???...I need over ยฃ2!!!
Agree. Iโd expected SP to hover around the ยฃ1.60 - ยฃ1.70 mark today, but holding at (or even slightly above) the offer price is strange. But promising.
Market makers are not at all charitable so is there a reason why they are mopping up the sells?
Sensing a strong scramble at the close, just marking it out
Expecting another interested party RNS to be coming as the SP holding these levels in the only answer I can come up with.
Alwayone
We have all been there but hopefully a profitable trade for you all the same.
Sold two weeks ago, so a bad decision. Well done holders, especially Mary who had a feeling about a bid.
Once again a British company gets an offer well under what it's worth.
Whilst the bid interest is a good thing , i think this should be going for at least ยฃ2.50 per share , so can't say i'm happy with the offer amount. Hopefully we get a far better offer for us.
Why choose? Celebrate with all 3.
Certainly a pop corn ๐ฟ day.
Popcorn, champagne or a beer? I don't know what to do ๐ฌ๐ง๐บ๐ธ๐๐
"Thanks guys so nobody benefits from the share price rise first thing apart from shareholders that held the day before?? "
no..exactly .....everyone trades with the same piece of information available to them, so no benefit to non-holders
Poker
Are you thinking a higher bidder too ? Or is that just me.
The price action seems to be too close to the bid for another player not to be lurking. If not another bidder, then what is the incentive here to hold for 1/2p months away.
My theory anyway is this is going higher potentially 220p range, just holding atm, trimming not adding.
Correct and it works the other way too on a warning etc. No change of seeing the closing price at the open unfortunately.
You pay your money and take your chance, a new race every day for many shares. That's the market for you.
Thanks guys so nobody benefits from the share price rise first thing apart from shareholders that held the day before??
Chippyg
pre opening Auction sets the opening price and in the Auction I doubt anyone would be selling at less than the agreed offer , so the offers to buy have to be towards that offer
Chippyg
Market forces - someone is giving you 175p a share, no way will it sit at 108p on the open. Pleasantly surprised at the level today allowing exit as Spirent noted...
"After careful consideration of the value and deliverability of the offer, the Spirent Directors believe that the offer from the Viavi Group recognises the underlying value of Spirent, while offering shareholders a compelling opportunity to realise their investment, in cash, at a significant premium to the prevailing share price."
The most interesting part seems to be that the market is expecting a counter bid and while I trimmed, there is a 50/50% chance another company could not want to miss out on the prize.