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Rule 8.5 of the Takeover Code (the "Code")
"All interests and all short positions should be disclosed"
Going to be a roller coaster days/weeks ahead.
We will see a flurry of these RNS's now to see exactly who is holding!mmmm
Let the games begin.
Have to be mindful that the shorters are growling and taking up more positions (Blackrock and Voleon) ....clearly expecting trading to be getting tougher and/or any Takeover possibility will disappear
https://www.shorttracker.co.uk/company/GB00BMTV7393/
Yep sp28 I was getting concerned not seeing one
good support level setter
yes but they got caught as they shorted and takeover news arrived after market close on 19th May, so my hunch is they are in a predicament and will have to close out as their risk management teams will be all over this due to their exposure. Let's see how things pan out as we will be getting plenty of news and no doubt other bidders sniffing about
2nd one of many me thinks
GIC private runs Singapore foreign reserves
There are at least 3 interested parties, 170p offer rejected.
A good chance another will come, now we know why this was heavily shorted to get to low price. Buy it on the cheap, lets see.
This is an hostile takeover. Lets see if they succeed. Imho
no one will "get a low price" ....shareholders wont entertain it ....and the lenders will want a say too...all stakeholders
Pokerchips
250p is the number but if more than one want it it may go higher. We have to remember 170p offer was from King Street, according the the news article they have assets worth $20bn in USA. They are the big boys..
I would imagine they know what base level the key Institutional Investors/stakeholders would entertain having a proper conversation ..which is why they can turn away an unsolicited 170p
Offering additional 1bn pounds may do it as per article sayin MM may sell at that price.
RNS machine will be in overdrive now ;)
In between these declarations, any news can pop out, keep those eyes peeled, one blink and BOOOM!
"Offering additional 1bn pounds may do it as per article sayin MM may sell at that price."
Yes, so say the journalists paid by the same people who spent the last year beating the share price down. I wonder why they would want to suggest he'd let it go so cheaply? Hmmm, I wonder.
was beaten down so they could get their hands on it cheaply - come up with decent offers and they may consider as offer significantly undervalues business which is what was pointed out in rns
Everyone saying 250p is cheap cheap cheap. The shares are languishing at 145, no one is falling over themselves to buy them. So not everyone agrees!!!!
Binky, looks like you got an agenda, new account, constantly referring to the £2.50.
Seen it plenty of times on LSE before, won’t be the first or the last time that behind the scenes they send individuals on to these BBs.
DavSen
Oh No, ive been rumbled!!
Who are "they"?
$20bln in the world of US PE is not the big boys! That’s their total AUM. So all funds
Recent fund raises from the real big boys are >$20bln in a single fund!
It’s these guys we need at the party
Goldy
" no one is falling over themselves to buy them."
of course..because everyone is a sheep..."after you Sir...no, no you..I insist" .....all sentiment related at the moment
If everyone starts paying 155p people will pay 155p even though at 144p they say..."nah..maybe tomorrow.."
Agreed DavSen. A whole swarm of them showed up on Friday, having never posted, or held the shares, before. Suddenly expects on valuations and the stock register.
"Everyone saying 250p is cheap cheap cheap. The shares are languishing at 145, no one is falling over themselves to buy them. So not everyone agrees!!!!"
Actually, they seem to be. There's a veritable queue of bidders forming.
Why would shareholders sell for a little over 1x Revenue? Who among them is that desperate for money? All they need do is wait a year or two and the SP will have recovered organically far beyond 250p.
You tell me Binky, it isn’t a coincidence is it.
Share price IPOs at multiples, short pressure pushes the share down, PIs get effectively bullied out of their shares because of this new trading mentality where no one wants to hold a share beyond 5 mins.
Then suddenly the company gets taken out at way beyond fair value, leaving LTHs in a mess, and a number of new accounts across LSE and ADVFN are pushing the £2.50 agenda, I mean you guys could make it less obvious?
The market is predictable, this isn’t the first and the last time something like this happens, and the FCA are toothless to ever police it, no one wants to upset the big boys.
Binkys boss at wpp as thrown his Binky (a trademarked Dummy in the US) out his mouth
I must say that I'm puzzled that the shares are at 145p when the board has purportedly rejected 170p . Also that the shorters don't seem to be discouraged.
Kanto
Actually, they seem to be. There's a veritable queue of bidders forming.
????????????????
Why would shareholders sell for a little over 1x Revenue? Who among them is that desperate for money? All they need do is wait a year or two and the SP will have recovered organically far beyond 250p.
over 6 million shares have been sold so far today! at much less than 1 X revenue!
DavSen
Im not "pushing" for 250, I would absolutely love it to be higher. just being realistic!
"over 6 million shares have been sold so far today! at much less than 1 X revenue!"
Out of 1.22bn shares... that's day trading churn. Moulding isn't selling. Institutions aren't selling. LTH's aren't selling. It's not selling for 250p, no matter how hard you push.