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Its odd given the offer was 360 and they are negotiating for probably 15% more, why it took quite so long to get there?
New bigger bid from a bigger bank?
There must be some news released today surely
But if we get bigger dividends and better share growth after merger could be ok
Forecast earnings are 40p a 4 quid offer seems cheap as chips.......
Looks to be the move by VM . However , I bet they have been in talks all the time since and now and will be over weekend to then recommend an acceptance of between 3.80 and 4.00
Fair to all parties and we could all then go on to proceed to get even more dividends and growth . I would be tempted to actually keep all the shares and keep holding for the long term in that case
For this deal to be acceptable they going to need to offer at least 1.65 CYBG shares for each VM share. Otherwise it has to be a "no". That would give VM about 45% of the combined group.
I think that might be where this is heading
Something that values VM at around 1.8bn will be acceptable.
A deal will be agreed and somewhere between £3.80 to B
Will leave all time to think carefully. With a counter offer of 4.20 perhaps
SP staying in the same range for now. Have a feeling news is coming soon.
The deal does makes sense just not as this price. CYBG can't think having a frothy sp gives them a right to get another bank on the cheap.
around 3 million shares yesterday against 2 million sells . Well done .
Seeing as how they said they had been in discussions for two weeks prior to the announcement of the first offer and now the delay in saying no , I would assume that CYBG and VM may still be in discussions . This makes me think that together both sides are trying to work out an acceptable price before saying no to the first offer . Why else take so long to say no .
It's me phoenix. I wish!
Someone is picking up those shares cheaply
Let’s haggle
We will get a definitive move when the negotiations give us an update. The current approach based on my mcap is bigger than yes ain't going to fly for RB and VM share holders. CYBG price has a lot of froth and ours is too low. Fundamentals will out and unless the VM tranche is upped to at least 45% this deal isn't going to fly with RB or VM.
Today loads more buys than sells . Not that mms care until fresh news is announced
Need £4 now or £4.50 if it drags on
I don't want this merger to go happen. I'd rather hold VM indefinitely and see the company continue with it's strategy. I take great comfort with this investment in it's current form, so if any wants VM, they need to pay a premium IMO.
Until more news comes forward. When the rejection occurs, there might be another tree shake and if a counter price is mentioned, then the price should rise again above 3.45 . Only my gut feeling of course
Think the current value of CYBG is very inflated, how is a bank of a similar asset size which is less profitable got a far larger mcap. That makes no sense at all. For some reason the city is its ******ed way has a downer on savings and loans (mortgages) banks, not sure why there is no money at all in current accounts. Cost income ratio of a savings and loan bank will always be far better plus assets are collateral backed. Not that city wide boys would really understand that anyway, current accounts they see as a way to take on the big boys.