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It doesn't follow the narrative!!
When, not if, there is a bid it will end up in the 125-130p.
Could management resist a bid c£1?
surely to a well capitalised US corporate that would be great value for a serious foothold in a market crying out for consolidation
News today Inchscape offloaded the retail arm to Group 1. They're NYSE listed $3.6bn, so good read across for sector that these large US firms still interested in acquiring UK car dealership assets, after bids for Pendragon and Lookers last year.
Price paid £346m. For context it had revenue of £2.07bn, operating profit of £49m.
Vertu today valued at £224m. We await full year results but last year Vertu had revenue £4bn - or nearly double the Inchscape subsidiary that sold for 50% more than Vertu's current valuation.
Depends what Cinch is up to with their holdings and further who acquires the Inchcape retail space?
Will check again end of august.
TU
Is pushing sp lower lol
Have now sold 50% of their shares in pendragon. They also raised £120 million last year, probably to fund a purchase in pendragon. The question is, what will they do with the money now?
Still a big buyer here, probably TDR Capital. I wonder what there end game is? I'm guessing its profit, just as they did with Lookers.
TDR Capital now own 9%, its getting interesting.
2 x 2.7 Million shares dealt, looks like buys to me, although it's not affecting the share price. We should find out tomorrow or Thursday. Its getting lively now!! Vertu not continuing their buy back either, offer on the table??
I mentioned last year once they went over 5% that I believed their target was 10%+, looks like it's now playing out that way. That threshold will be put them in position to potentially appoint nominee to board and ultimately call more shots. Where it gets interesting is they're far from alone in building a position here.
Now own 8%!! Someone knows something and it's clearly not the idiot below!!!
Surprised by resilience, given bleak warning
tp 55p
Feels 100% like large interests are trying to get the impatient to sellout, off to Alps until end of March ,no inter web best of luck all.
Definitely still a big buyer here, every day buys of 10,20,30k shares. Probably TDR Capital.
Volume is drying up again , all buys no one selling . Topping up holding .
Gla
What are the levels that trigger a major holding rns , know about 3% not sure on others
With TDR buying and Vertu also buying back their shares surely puts a floor under the share price. Enjoy the ride JpMorgan, perhaps you should close your hopefully, ill timed short.
Up 1%, 6 to 7%
Cinch still buying - wonder what they'll stop at? 10% 20%? 100%???!
I wonder if Sytner's purchase of Rybrook today has got people thinking about Vertu being purchased
Yep - they are already £2million down! Love it
Certainly a lot better than last Thursday, so glad that I did not panic sell. Seems Jpmorgan Asset Management might have made a big mistake with their recent short.