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To the offer . That makes me think they are still trying to get us cheaply under 4 pounds . So they will try 3.70 to 3.80 . Won’t get my vote
CYBG to make an improved official offer this week. 400p here we come!
Rate mortgages . Also at very good rates . Just shows you how forward thinking and dynamic VM are . This is bound to help us increase our share of the mortgage market
Well they still seem to be talking that makes me think the possibility of a deal is there. Phoenix from flames us right we need about 45% of this bank. We are better capitalised, have fewer legacy issues and are a fair better brand. They have current accoints and some some lending to bring to the party but also conduct issues.
However, an increase in VM shares in CYBG is not only the way to go , but is also financially viable , as Virgin Money are bringing a more respectable name to the table with a more sound financial base and rating . Therefore 46% of CYBG on the merger , or quite frankly get lost CYBG. We are a better bank than you
There will not be a cash element. CYBG doesn't have excess capital to offer VM investors money, their CET1 is 11.3% ideally that should be 13%. So shares only option as they are marginally under capitalised.
The BoD need to update the market ASAP on developments. Has a formal offer been made? Has a new price been negotiated? Is there a cash element involved? As the owners of the company we need to be kept informed please.
The fact that both banks were quietly talking secretly for two weeks prior to the non agreed VM release of a possible opening offer of £3.59 value per share shows me there is a deal that wants and needs to be done by both sides . Also the fact that Virgin Money still haven’t said get lost to CYBG means to me they are talking to CYBG to get a more sensible offer put on the table . The market wants at least £4 a share for virgin as by next year we are likely to be at 4.50 without CYBG . The merger makes huge sense for both banks . It is likely to happen after the dividend has been paid out properly to the share holders , so I think next week we will have some news
This deal will fall apart thats why the VM sp is sitting at 340p it should be �4 plus the market has no confidence in the deal and I for one hope it fails VM need to stay on there own for at least another 2years then they will be worth multiples of this....
Their CET1 ratio is down at 11.3 and they aren't generating sufficient capital. So I don't think it's a good deal.
Personally though i feel there are more suitable suitors that I would favour over CYBG; so I'm hoping they pull out.
I agree CYBG def need VM. more than VM. need CYBG. I was concerned over the weekend when I read this article. http://www.thisismoney.co.uk/money/news/article-5723379/Police-probe-CYBG-just-launches-bid-Virgin-Money.html With the losses, misselling compensation and police probe, CYBG are not very attractive partners and less so at their offer price. It will either have to be significantly higher or failing that as many others have said I'm happy to continue as we are (although it would be nice if our share price remained in this region as we were criminally undervalued before).
We will get offers from other suitors soon anyway. So CYBG bye bye
The market may be getting spooked by the results of CYBG,posting losses for the last 6 months. This may undermine their ability to increase their offer substantially from the one on the table. I say if they cant up the offer they can walk away, but nonetheless that will push down our SP until further notice. I'm not fussed, am happy to hold as divi slowly increases and use significant drops to top up. I wasn't planning on selling until at least the �4.00 mark
CYBG appear to desperately need this deal . What we don’t want is to be dragged down by a drowning weight . VM appear to be the vaccine against CYBG getting bogged down . We are zipping ahead business wise with a great plan that’s working. The more I see of this offer , the more I see as VM becoming the better partner than CYBG . I won’t vote for anything less than 4 pound minimum. However that will need to come with guarantees of our brand and certain autonomy
all over the place at the moment, can't buy/sell with Halifax !
Unlike the clueless May VM should walk from this offer if it isn't right. Our business is in fine shape and will continue to grow and prosper regardless of the absurd pessimism surrounding it and as it does the share price will correct. In time it will be VM who snaffles the good bits of CYBG not the other way round.
Not pound sterling . Still , a loss is a loss . So this is a message from one shareholder with a few thousand votes . If you can pay to play , stay and talk . If you are plotless and are trying to get us to pay your bills , get lost and walk on please . We will only marry for money and are very choosy of our partners , hence our name . (Joke) please don’t release the fascist thought police upon this comment made in jest
Due to ppi . This company just announced another 103 million pound loss related to ppi . VM made profits and hasn’t got baggage . We are doing ok on our own and we don’t have scandals being released in the press . Which makes me more certain we should receive approximately 4.00 pound a share .
That's the per-share value of the CYBG bid, so should see that in next few days.
Seems to be heading up again.........
Come on VM and CYBG can we move this along please
There is a scalable bank can be created from CYBG, VM and PAG. Pretty quickly would be making a billion a year and assets of about 90bn and plenty of capital. Managing a bank is the easiest job in the world.
In U.K. and Europe. Wouldn’t surprise me if this offer gets gazumped later anyway
Presume people had set lots of stop losses, so once they were cleared then the price would rise? However, it does seem a low offer that could be gazumped by a bigger rival.