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need to digest this carefully.looks like hardball on first reading.note the reference to a dividend and possible offer reduction if paid.maybe this is just standard safeguarding of position,but not sure. also reference to going private if I've understood it correctly.thoughts anyone
The reference to divi etc is pretty standard stuff.
My take on this is that BOD won’t accept 206 (given they rejected 190 last time) and these are just the games.
Question whether BoD would recommend offer at c. 250p, cash.
Not sure why Telit Board (and Rothschild as adviser) have allowed DBay access to further due diligence without first getting some indication from DBay at what level they might be minded to make an offer. DBay know this business well already.
206p is hardly a premium to DBay's previous offers.
This looks like a waste of Telit's time.
Just switched on to see this nonsense.
The tell tale sign was the lack of upside to the share price this morning, and the raft of offers around 210 holding the price down - funny old game.
What a strange old situation this is turning out to be.
i wonder if we will receive a response from telit tomorrow?
I would hope so.
What I'm baffled by is Telit going to all this trouble to let DBAY back in the game for a couple of extra coppers on the share price?
The constant back and forth by DBAY is a major distraction for the BOD , and unless there's been a major change in circumstances for the Group, then £2.06 doesn't come close.
2.06p is the minimum allowable offer as this is what Dbay have been buying at recently but they can't get hold of any more it would appear....... simple answer from BOD Fcuk# off unless the offer starts with at least 300 in front of it. Telit were way above 300p a few years back but they are in a far stronger position now and have £50 million in the bank with no debt... Dbay can politely be summed as a bunch of chancers imho. ADYOR!
Absolutely!!
They can poke it!
I think this will flush out a Trade buyer TBH.
Yes, in my last post I forgot they added at 195p so that was the prior min, which was rejected. I struggle to see why the BoD re-opened the discussions without a significant increase from this level ie not an additional 11p.....
I don't think an offer will be at 206p That's the highest price Dbay have paid in the open market. Dbay tried a similar trick a few months ago by offering 195p but buying shares at higher prices..if the Bod turned down 250p share offer from Ublox why on earth would they think of taking anything less than 250p. Telit worth a minimum of 300p today, probably 400p in 12/18 months time.. And Dbay know this otherwise they wouldn't be hanging around like a bad smell. adyor!
Any offer from Dbay will always undervalue Telit. Dbay's investors know this will be worth a fortune in a couple of years from now and probably just want to asset strip it. Telit should just tell them to politely walk. We could easily be at 400p in 18months time, where would you get a return like that, certainly not in the bank...aimho adyor!
agree with that moniman, which is why it is difficult to understand the reason for them opening the door again. must presumably indicate that they are not averse in principle to offers and perhaps they are hoping it will flush out any other interested parties.
Betaville reporting a new US listed firm is circling Telit; and have engaged Barclays as advisor.
chris is that something you can post or indicate link to? much appreciated if you can
don't worry chris.ive got it now.
Interesting that major shareholders not happy with Dbays latest approach. Have Dbay offered something to the BOD members???
https://betaville.co.uk/betaville-intelligence/rare-alert-telit-communications-said-to-part-29/
Why would we want 206p today when we could be worth 400p in 12/18months time? Doesn't make any sense to existing shareholders?
we were offered 2.50 buy the swiss co!!!
I wonder if our high % friends are trying to grease peoples hands on the bod?. They appear desperate to get a deal done for their investors but want our company for nothing. I hope that the bod do the honest thing for all the other shareholders and don't give in to the promise of potential personal rewards?. This opening up the books again looks very dodgy to me, maybe I'm just being paranoid, but maybe not? Aimho adyor !!!
sadly i have to agree moniman.it wouldn't be the first time something like that which you are suggesting occurred.we have all seen it before.not saying that is what is happening but very difficult to reconcile the board's decision to reopen the books with the content and tenor of dbay's statement.hope we are wrong
Unfortunately the fact they have managed to get to such a high % shareholding means they can exert a lot of pressure on the bod along with some very nice promises..I think we might be about to be sold down the river. Hope I'm wrong.
well if they do there will be huge fuss on here, which will of course achieve absolutely nothing.it will be endorsed as in the shareholders interests etc.let us hope there re other interested parties, who will introduce a competitive element, which the board cannot ignore.
Anyone else thinking this is coming any day soon Dbay, revised bid 215p?
well it's not clearfrom the recent anouncement how long ago Dbay were able to commence the confirmatory due diligence period. no idea how long the due diligence would take,but presumably most of the groundwork was done some time ago, so perhaps not very long .i wold be surprised if we did not hear something further by end of april, but who knows. as to the figure, if we get one, something in the region of your suggestion sounds likely, as i just don't think they will make a decent offer.let us hope it is followed in short order by a more realistic offer from another party.we shall see.
Personally, I think the DBAY strategy of picking off the company cheap, is only part of it.
If they get an offer accepted, then great.
But, the reality is that there are buyers out there, who will have to knock on DBAY'S door to have any chance of success.
If you think about it, they're in a fabulous position.