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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.
But my slight worry for Calnex is that their relationship with 'Spirent' (post-sale) will be a very different one.
Hi Grippa, you are right - and I was one of them. Just topping up and hoping to piggy back on the good news for Spirent (like the others I guess). According to HL todays day gain/loss is still not available? But Calnex does have a tendancy to lag behind Spirent.
Have never really understood how a share price like this has opened at 174 a huge jump from the previous session. Great news for holders but who and when have the shares been bought ? Normal pi seeing this news at 7 am would hope to buy at 1 second past 8 but the price opens at 174 ? Always wondered who when and how ?? Thanks if anyone can help clear this question up .
Thanks Mary
I see alot of buys in Calnex solutions today wonder if people are selling here and going there hoping for the same there..... very interesting times. I'm no expert but would like to think in 12 months time the whole small cap markets in a far better position especially telecoms, its good for the poeple that have made decent gains here to buy other low valued shares while the markets still down., time will tell! Good luck and well done to the fortunate that have done well here, if you haven't can not win them all but still can bay other low valued companys to recover losses. ATB!!
It will run its course and your brokers will receive the proceeds so you need do nothing.
Always a risk in the intervening period that the bid may be pulled and also that of a higher bid upside risk.
You can sell into the market a few pence light rather than wait but you miss out on a higher bid. No certainties in life so I hedged and sold 1/3.
Never advice. DYOR.
Newbies holding the baby ??? The newbies are quids in. The LTH are not.
FWIW I trimmed 1/3 above 173p to take some risk off the table and now sit with a sub £1 average again on a sizeable holding and will await developments with interest.
Most should be a lot happier today with their positions.
🍾
Petro,
How is your short position looking this morning?
If the deal goes through as reported, do we need to do anything or will our shares be sold automatically?
Takeover 175p below my last top up last year at 180p , when it fell back after last years results .
Not the time to be investing for private inverters.
Broker shows I have not lost overall with this one thank God , first buy with them 25/8/15 at 78p
Buy back here on dips after slicing a mistake in hindsight .
A return to 300p in August 2021 was time to get out .
Especially the ones I bought in January 2021 after the fall back from the first peak to 300p a year before in August 2020
Bep 153p.
The Crawley, England-based automated test and assurance solutions provider said it has agreed on its acquisition by Viavi Solutions for 175p per share in cash. Spirent shareholders will receive 172.5p cash, plus a 2.5p special dividend.
The acquisition, which values the company at GBP1.01 billion, as been recommended to be voted for by Spirent's board.
Also on Tuesday, Spirent reported its full year results for 2023 .
Spirent said revenue fell to USD474.3 million from USD607.5 million Pretax profit plummeted to USD22.9 million from USD114.6 million. Spirent declared no final dividend, despite paying out a final dividend of 4.94 US cents a year ago.
No thanks
Petro,
What a stupid statement to make, this board isnt full of pumpers and dumpers.
I have an average price of around 100p and bought these on the big dip on the profit warning back end of last year.
Needs another bidder as it's being sold at a bargain price.
I expect traders will be selling very soon for a small profit. Newbies left holding the baby here
The potential buyers will be picking up the share sells ...I suspect
" Presume this has to go to a vote so it's 25 top shareholders with 70% of the shares that will decide the fate."
I don't think they would have reached an agreed price if the main shareholders weren't happy with it ....so I think they have their votes already ..they know their ball park acceptance figure when doing the negotiating
Just a matter of going through the procedure at the required meeting
In my opinion
I am glad the shorts got burnt. This short selling malaise has gone too far. Every good or bad results got punished on the day or fews days after; so all shares made no progress over decades. Look at HSBC it dropped 7% After a good results. There are many stocks like them. Then all aim stocks move 10% for no reason and mm don't make it easy to trade because the spread is over 10%
Presume this has to go to a vote so it's 25 top shareholders with 70% of the shares that will decide the fate. No idea of timescale, do I stick to see if a better bid and to collect the small divvy or do I twist? Either way, having averaged down from a nasty little tranch bought at £2.70p, it's a high quality problem to have, I now have a small profit on the cards at this price.
" The special dividend (2.5p) will be conditional upon, and only be payable if, the scheme of arrangement to implement the offer becomes effective (or, if the offer is implemented by way of a takeover offer, the takeover offer is declared unconditional in all respects). "
Takeover price is only at last summer’s levels
Don’t forget WG Mary…
Next bids may well be
RNK & 888
Watch this space !
Phax
Fantastic, profitable here too but not quite as much as was averaging down.
Delighted with this news. Will sit and wait for a few weeks to see if a potential counter offer emerges, but would be happy with £1.75.