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Pay out not more the 14 days after 1st August 2022 .
Better if I had waited .
I Would not of been charged 0.85% in interest for the one month .
The higher 4% APR divided by 12 = 0.334 %
I took 34.7p approx 0.85% below the offer , as needing and having the cash about one month before sanction by the court mentioned below .
Thu, 7th Jul 2022 11:44(Alliance News)
UK government approves acquisition of Ultra Electronics by Cobham- Ultra Electronics Holdings PLC on Thursday said that its acquisition by Cobham Group Holdings Ltd has received all antitrust and regulatory approvals.
Back in August last year, Ultra agreed to a GBP2.57 billion takeover offer from former London listing Cobham. Cobham said it would pay GBP35.00 per share in cash for Ultra.
In June, UK Business Secretary Kwasi Kwarteng launched a consultation into the undertakings offered by Cobham to acquire Ultra, which makes submarine-hunting equipment as well as control systems for the fleet of Trident submarines that carry the UK's nuclear deterrent. The deal was originally held up on national security grounds.
Aerospace contractor Cobham was a FTSE 250 company before it was bought by private equity firm Advent International in January 2020 in a controversial deal which had sparked debate over UK national security.
On Wednesday, Kwarteng gave the acquisition the green light to proceed.
The acquisition remains subject to other conditions, including sanction by the court which is expected to take place on 28th July .
Now what's happening!
What government? Last I heard the PM was partying and then going joy-riding in war planes. He's getting his money's worth; we aren't.
Now the Gov't have finally OK'd the takeover, does anyone know the timetable to completion?
Out of these now .
8.15am... 3470p
Need to raise funds so took a profit I have here.
Bought 6/8/21 made 13% could of got them cheaper mid February 2022 .
Hallelujah!
I've never known a takeover take so long to be resolved. That ******* Kwasi Kwarteng has sat on this for over 10 months. Typical of MPs & Civil servants who have no idea what is involved in running a business. They all seem to think we live in a static world where nothing changes so they can take as long as they wasn't over decisions affecting a commercial company. A company can't go 11 months without knowing who runs them, Crazy. Is there one member of this Government who would be capable of running a market stall?
Anyway, the good news is the waiting should soon be over and the takeover should go ahead.
Patience is rewarded.
Scheduled for tomorrow, 10 June
We simply do not have a government competent and trustworthy enough to make this kind of decision.
Refers to an announcement from HM Gov't, but I can't find that anywhere. Can anyone supply a link?
Many thanks
And two months on - we still don't know. This is getting ridiculous.
I've never known a takeover take so long to sort out. I don't think I've missed any updates - hard to tell when there are so many RNSs about shareholdings
I did actually write to the company to request an update. They replied admirably quickly to say everything was still on track & there would be an update IN January.
I believe that uk gov decision by the 18th January
I think we're long overdue for an update on what is happening re the takeover - is it going ahead smoothly? If not what is blocking it? If the UK Gov't are investigating it I thin the company should at least officially tell us.
If anyone has any hard facts It'd be good to hear.
Is there any relevance to Ultra to the Santander link?
https://www.hl.co.uk/shares/shares-search-results/b/banco-santander-sa-eur0.50
https://www.hl.co.uk/shares/shares-search-results/b/banco-santander-sa-eur0.50
Probe started
does anyone know when we will get the money back on these?
I think the main reason the sp is not up at the £35 level, which is where the offer has been made and the BoD have accepted, is that being in the defence sector the UK Gov't may scupper the bid,
I can't se it as most of their work is in the US any way
But it's not just a question of bid being accepted by BoD & shareholders,
I guess today's weakness is a reflection of the potential Gov't involvement,
Never heard of this company till it was in the news, not sure how it can be trading a chunk below the inevitable offer that's going to be formalised at 3,516.00 thinking it might be worth a punt.
Teverham beat me to it. (-;
I thought I read that the dividend was on top of the £35 so £35.16 per share.
If that is the case I can't see why it would be discounted.