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The listed company is seeking a buyer to help it turnaround a loss-making position and execute growth plans, for which it needs significant capital investment. News of the potential deal followed an update that several interested parties had made offers for the business.
NE, for most of these companies the profit issue is that they have too many projects and not enough competent staff to help deliver them, so have to pay a premium to hire in additional resources at the expense of the Principal Contractor where on an agreed price.
A company like BP would love to bring an entire highly reputable engineering function in house.
Porter, couldn’t agree more there. BP ect would love this type of company. I see they have a place in Montrose not far from me in Aberdeen. Aberdeen soon to be the offshore renewables city of the world
Reading the RNS OF SALE process;No bidding war just a major player investing at these Sp prices
Hopefully BP are one of the companies who will bid then!
The bit about 'current prices' do you think it means 'current' as in now or current as in the moment when a transaction is made? Also, she that it is not necessarily about an acquisition but more about an investment.
I think it’s got to be a price above this price if that makes sense? I think a big major investing would see huge upside in TGP and a massive vote of confidence. Cash injection too
Just seen this article. And all these wind farms offshore will need cabling
Total installed offshore wind capacity will reach 330GW by 2031, up from 34GW in 2020, according to a new report by Wood Mackenzie.
By 2030, Wood Mackenzie expects 24 countries to have large-scale offshore wind farms, up from nine today.
Cumulative global capex spend in the sector is expected to hit US$1 trillion (€0.95 trillion) by 2031, the report forecasts
30GW
Tekmar Energy is trusted to protect over 30GW of electrical infrastructure worldwide
9000+
TekLink® and TekTube® cable protection systems provided to clients all over the world
Over 75%
global market share
Global market share in offshore wind cable protection
90+
projects and counting
We believe Tekmar Energy has worked on more offshore wind projects than any other company worldwide
RNS Number : 6881G
Tekmar Group PLC
17 November 2022
'The proposal being considered represents a strategic investment from a global institutional investor in the energy sector, which would provide funding for the Company to follow an ambitious plan for growth, both organically and by acquisition.'
Dogger Bank C contract now awarded closely followed by a big name energy investor taking a large position sounds like a number keep going up here situation.
Interesting to see who comes in and what they will bring to the table....
Good points DS. We know SSE, BP and Shell are big clients of theirs. No doubt they’ll look to pay top dollar to bring the entire staffing of 3000 employees across the globe in house and claim the jewel in the crown. Whatever deal their preferred partner decide on is going to be big IMO.
Hopefully we’ll be back to our 59p share price in no time once news is released on the merger / takeover in 3 weeks :)
DSFLAT
For me any takeover will be £1 plus. Based on current contracts, scale of the offshore renewable sector and growth. And being the world and market leader in the field with over 75% of market share in this sector. Then there’s also the other 4 businesses within the portfolio. Huge potential here
Too many rampers....Be careful of the spike.
DYOR
MickR
Your not ramping when your stating facts off RNS’s and there own website.
Mick is a first time poster on TGP and all he seems to do is complain on boards about how much money his investments are losing. We know his intentions. When the trolls appear it’s good news IMO.
14.48 to buy now with some swing fishing down to 13.5
Buys showing as sells now
Agree, 15 is the current buy price despite being advertised as 16. All them sells look like buys :)
To be fair, anybody talking about bidding wars clearly has their own agenda.