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£1.50 for these shares coming to a broker near you soon.
50% off if you buy today
Tender Offer £1.50 due any day
Don’t understand why the share price is falling unless the deal at £1.50 does not go ahead.
It's a done deal imo
Major shareholders, company bod have given it their blessing publicly
Irrelevant what they say about accepting the 150p, the question is will the offer ever actually be offered! It is a "possible offer" at the moment. If you want to see what a real offer looks like check out hotel chocolate in the past few weeks.
The situation here is... well it is a shambles isn't it.
Its the same people who wanted to buy the whole company and after receiving feedback from TNT plc and their major shareholders agreed to go down the 29.9% tender off route instead.
Are you thinking it's all BS? Markets suggest it could be.
Great first post Andy thanks for sharing your concerns with the BB….🙄
The issue (I suspect) in many peoples mind is that the offer is to end up with a given percentage - currently it's possible to buy shares BELOW the tender price, so maybe they are loading up at bargain prices - meaning that any holders when the offer is made will find there is no offer in place, and holders are then "stuck" in an unlisted share. Which may not be what everyone wants.
Volumes don't show any significant buys at all since RNs. No way they can get 29.9% target in open market.
If they were loading up themselves they would have to declare the purchases in an RNS as they are still under the offer rules.
There is risk this may not happen hence the reduced price. If you are certain that the offer will come then you should be buying more, remotgage your house, tell your friends to purchase, buy buy buy....
The fact this hasn't happened tells me that it's not yet a done deal and there is still some significant uncertainty.
It is odd I grant you.
The monies involved in getting to 29.9% are not significant so unless the potential funder of the Tender Offer has got cold feet it's difficult to see it not going through.
More likely is the case that the Takeover Panel are moving at a snails pace in giving the green light and/or the finalisation of necessary documentation required to proceed is taking some time to complete.
Happy to proven otherwise of course but this is out of TNT's hands so it's highly unlikely the BoD at TNT are causing any hold ups.
The real unkown for me remains the CLIN situation and that might be unresolved?