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The other player to watch is Hedin who owned about a third of Pendragon. They will end up with a massive chunk of cash from that sale, and we know they wanted to expand their presence in the UK with their ultimately unsuccessful offer for Pendragon. Plus their bid was supported by further cash via a private equity firm. Vertu looks like a bit of an open goal for either Autonation or Hedin.
Comment from Car Dealer this evening suggests that Autonation may turn their attention to Vertu which still offers good value. Additionally Vertu owns some valuable assets.
Autonation, this evening, pulls out of bidding for Pendragon. Hopefully they will turn their attention to Vertu.
Seems to have some momentum here. Speculative buying or insider knowledge. Hopefully a bid coming soon.
I bought some on 14th and again on 29th April 2016 for 58p
Sliced the top up today for 79p target has been 75p for months .
Made approx 36% but have had to wait 71/2 years .
In that time saw them fall to 41p soon after June 2016 then to 18p 20th March 2020 ( Covid low )
Pi world pumping it recently I see.
Some weeds do become flowers.
If you get the time TYJ .
Vertu Motors CEO, Robert Forrester and CFO, Karen Anderson present interim results for the six months ended 31 August 2023. The group saw record revenues, year-on-year profit and dividend growth.
Watch the video here: https://www.piworld.co.uk/company-videos/vertu-motors-vtu-interim-results-presentation-october-23/
Or listen to the podcast here: https://piworld.podbean.com/e/vertu-motors-vtu-interim-results-presentation-october-23/
Hope price drops to low 60s not got full position yet . Good set of result and increase in divvy .
Gla
Nice big strong buy to close week .
Thursday, 5 October, 1:00pm
Vertu Motors CEO, Robert Forrester and CFO, Karen Anderson will present Interim results, followed by Q&A
Register here: https://bit.ly/VTU_H1_results_webinar
Pendragon now having 3 separate bidders, interestingly 2 bidders backed by massive US chains one of which with an $8bn market cap. Clearly only one can ultimately be successful, so if either of the runners up are looking for a foothold in the UK market good chance they'll look to the alternative - and Vertu would be the one remaining listed UK dealer network.
Big buys coming in looks set to pop to 85p plus
Gla
This has to be a no brainer of a buyout, especially when current market cap pretty much equates to just book value, effectively pricing the cash generated by the business at nil. The re-rating of Lookers and Pendragon after their bids won't have gone unnoticed and should give a bit of urgency to any suiters.
I think that Hedin will make a further bid at around 35p. I invested in Lookers a couple of years ago and have made a killing on that. My Pendragon shares cost an average of approx. 20p and I have recently topped-up my Vertu holding and invested in Inchcape. Who would have thought a few months ago that there would be so much activity in this sector and that few cos. will remain listed on the UK market.
No volume today , if people want to buy they need to pay more , not many sellers here
Someone is buying in 20k lots . Look at trades . Getting interesting
Surprised not up more today with bidding war on Pendragon.
Now a bidding war for Pendragon. Who ever loses will still want a major foothold in the UK.
Vertu are a sitting duck.
Nice move up on low volume , handle fully formed in my view . See if plays out , very big base formed ,loads of energy
Prospects look good for Vertu, bid or not with the recent spate of takovers of car dealerships lately.
If the Lithia deal goes ahead, that leaves Vertu, and Inscape as the 2 major players listed on the stockmarket. IMO, Inscape is a more complicated buy, so that just leaves one!! Or you could listen to Jolly.......
Do you still think you can de ramp this share and buy it cheaper????
Tell me? Where and how do you get your logic of 57p?? Guess work??
Idiot!
Down
tp 57p
Anyone else seeing a massive cup and handle forming , currently got a nice down sloping handle forming , buy point for me is 74. Anyone on here trade this formation .
Be constructive for this to test lower around 65p
Just building up steam for next move up or down