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Market is now starting to price in a new offer as sp has crept up to 109 matching the offer price once stamp duty and dealing charges are included. Hopefully this pm we will close above the 110p.
Agree with a share price so low this must alert the likes of Next to go in with a late offer
I’m in at 1.66 lol
Now Next know the low ball offer they surely must reconsider given they too were interested at significantly more.
I wonder if there’s any chance of other contenders coming in and an increased offer.
If not, I don’t see the point in hanging around for the extra 1p and would probably sell now.
How can the BOD turn down an offer of over £1.30 a share then accept £1.10 two months later. Absolutely stinks. I’m in for an average of £1.20 a share. Not a good day!!!!
Is this for real as I’ve said all along if this is left alone for 3 years it will be £5 minimum.
The board should hold their heads in shame.
I am much luckier than some as my last entry was around 76p.
Superdry is the long term play now such a pity as this had immense potential from the recent levels we have seen.
Long term shareholders deserve answers!
Well for me management have let us down BUT what about our advisors who presumably steered the company away from sycamore so that they would earn more fee from prolonging the process perhaps or to line the pockets of their mates- why are we paying them anything?
The BOD must have secured themselves a better inside deal going forward as they just cannot be that incompetent. I would have thought a regulatory investigation will be forthcoming as to the real reasons in turning down the higher offers.
It's a utter disgrace to accept this offer for 110p. BOD will definitely know more about the business, but this is unethical. Why did they reject offers for 130p and 138p earlier, which i believe was undervaluing the business. Absolute **** show.
I am now invested in 80% in commodities as I just don't trust BOD's anymore and this just goes to prove it. Strangely enough another holding I have, Darktrace are rumoured to have an offer and they are up more than TED. Why though would Tosca agree to 110 when they were buying in the 140's a few months ago. There must be something we don't know that they do. Let's face it the market makers new what was going on as they kept the share price under 90p to make the price of 110 look appealing. It just seems bent to me...
I cannot see how a company can lose 20% [ 137- 110] of its value since march . Surely sycamore can now offer just 115p and win .
Yep. Also Moss Bros for me.
What has really frustrated me this time is how the management led the majority of shareholders to believe that they were holding out for a much better offer. If back in March we were not told that 130/137.5p a share significantly undervalued the business than I for one would have not held on, purely because of my experience in these situations before, being that it’s always better to sell on the news and back then it would have been for a huge premium over this now ****ing pathetic offer of 110p.
There is such a chronic problem with British management. They are just greedy spineless morons. Fortunately this was the last UK company I’ve invested in as much of my holdings are now in US.
I have no other option but to vote against this JOKE of an offer and the incompetent BOD. Utter non-sense this!
I have been shafted previously by AA, Bacanora and Talktalk which also went for next to nothing. UK company directors are spineless when it comes to delivering value to their shareholders!!
This is just ridiculous and it goes to show what a corrupt market it is. The Bod turned down three offers from Sycamore that were all higher. Will they come back? Let's hope so as 110 is a joke.
Ted Baker (LON:TED) - an agreed cash takeover bid is announced at 110p, only an 18% premium. The 3 biggest shareholders (including the founder) have agreed it, so the company's trading and outlook can't be much good. This was not a convincing turnaround, so maybe this is a lucky escape for shareholders?
What the **** happened to 137.5 “significantly undervaluing Ted Baker and failed to compensate shareholders for the significant upside that can be delivered by Ted Baker as a listed company.”
Ok so we will sell out for 110 instead.
Another case of **** management in it for themselves.
Possible others imv are; Sports Direct because the new ceo is moving the company upmarket, Next because they have tons of cash and could expand the on line and JD sports because the new ceo wants to prove himself. Chances of another entering the fray at this stage 25% but I am holding and voting against the deal.
Yep - disappointed to say the least.. Can’t see anything changing so it is what it is I guess ..
Says it all really, TED going for a steal.
Royally shafted things those with a 28p average cost are delighted with the almost 4 bagger.
Those thinking the BoD will look after the shareholders, rather than themselves were deluded.
Recommend cash offer of 110p. I am furious, Ted Baker is going to one of the largest fashion brand business for peanuts!! This is the second company in last few months I owned that went for next to nothing. I owned Bacanora Lithium which Chinese took for peanuts! Ted is a least worth 200p!
Bod are recommending the 110p because sentiment is at an all time low and if they wait until the Ukraine war dies down there is a danger the company would be worth double.
This is an excerpt from the 2022 Annual accounts:
The Directors anticipate starting discussions to renew the RCF, which expires in November 2023, during Summer 2022, and believe that, based on the forecasts, the underlying strength and appeal of the Ted Baker brand alongside the positive and supportive relationship that the Group has had with its lender banks, the Group will be able to agree an extension to the RCF at an appropriate level and terms prior to its maturity.
a few options here;
1. Offer is accepted by required % of shareholders
2. Offer is rejected by a big enough percentage of shareholders, may be a subsequent improved offer or offer is pulled completely
3. Third party enters the bidding
4. A problem with regulators with the sale process, refused higher bids, current bidder offer more only recently etc
I should imagine the large shareholders have already been approached, so now its down to all the smaller investors to make there own determination as to which they think will happen.
This whole process stinks to high heaven, but small cap companies have very little power in the current environment