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Volex is not permitted to rebid till July but the appearance of one or more suitors will allow it to reenter. TT is an excellent fit into Volex as the companies literally jigsaw together and overlap giving huge economies of scale. Rothschikd would not be happy for a suitor to take control of TT as it would do what he can clearly see. I'm happy just to sit on the sidelines and watch developments here. The sooner the better as insto holders will call the tune.

My take on it:

It certainly looks like TT Electronics is shaping up as a prime takeover target. The reiteration of profit guidance and adjustments has removed a layer of uncertainty, making it easier for potential suitors to sharpen their bids. The initial price weakness could have been algorithmic or knee-jerk selling, but the quick rebound suggests underlying accumulation—likely from institutional investors or a suitor reloading their position.

Likely Bidding Dynamics - Siemens or TE USA at130p – This aligns with prior offers (135p, 160p) and would be a credible opening bid, testing institutional sentiment.

Volex reloading – Their earlier bid at around 75% premium was rebuffed, but with TT Electronics now in play, they may circle back—especially if TE USA or Siemens or others move first.

Market has clarity – The previous excuse that TT’s BoD was unwilling to engage is now irrelevant. Everyone sees the numbers, and TT remains strategically attractive.

Given its blue-chip client base, diversified global contracts, and presence in mission-critical sectors (defense, medical, industrial), TT is an obvious target. If multiple bidders emerge, this could escalate quickly. I wouldn’t be surprised if a formal bid lands before the delayed March 4th results, catching the market off guard.

Mark Hoad staying on for a couple of weeks speaks volumes......awaiting bid action? Sure as heck he knows somethings coming down the track from Siemens, TE USA etc etc. First Salvo 120..??

To think that Volex won't be restocking its war chest with TT shares at this level is to completely underestimate Rothschild. The Blackrock overhang has gone and there are few stale sellers left as we come off a ten year low. Predators must be hovering up shares as the upside looms. Takeout price was indicated by Volex - now with all elements on the table the serious bids can come in. Within a few days we should see one pop it's head above the parapet. Let the Games begin. Quality business at a bargain basement price crying out for BoD replacement by competent suitor.

Let's see the rebound now as the hawks circle

All the elements that Volex wanted to discuss are now on the table.....and for other predators to see. The impairments, whilst clearing the deck for the existing BoD, are actually a gift from the God's for any predators. This shows the bare bones with the thriving businesses on top. Perfect time to post a bid for TT and assimilate a badly run quality UK business with blue chip clients and multiple contracts. Onward and upward from here. Watch this space.

Won't need much patience buying at this price

The writing is on the wall for TT to be assimilated. The sooner a predator declares the better. Volex threw its hat into the ring, the BoD admitted previous bid at 160. This is already on the radar so I'm expecting a flurry of interest taking advantage of sub £1. TT will probably go for around 125-150 which will be a real bargain for the victor.

The price has been driven down already in anticipation of this. The quality and value of the underlying businesses was already indicated in the 135 (and 160?) bids already put to the BoD. Their failure to 1 engage and 2 disclose bid are pivotal now and the independence of TT looks untenable. Predators must be circling and any further weakening of price should see them hovering shares up. I suspect a quick knee jerk followed by a sharp retrace strengthening over the coming weeks.

I'm expecting TE USA or Siemens to have been taking a position here and then Volex would have to decide to reenter if a bid is made. TT is clearly an excellent company with poor management at the helm. An obvious target for predators.

The predatory interest here must now be intense. The BoD are obviously incapable of quickly turning around the 2 US operations. Their intransigence in engaging Volex and failure to accept a 160p per share bid from a second suitor puts them in an untenable position. I expect that institutional holders who hold 50%+ of shares will already be looking at acquirers. Yes, the company is making a profit in Europe and RoW but change is afoot to release obvious value here.

Looks like Blackrock have stabilised around 5% which should now cause a squeeze in the run up to March 4th as stock availability dries up. Hopefully?? ...we should now see a sustained rise from this derisory MCap.

Let the games begin.....

Roll on March 4th..... Volex can't re-enter arena till July under rule 2.8 unless either a) TT BoD agree to engage or b) a previous or new suitor appears.

Either way there's a lot happening behind the scenes or off-market. The TT Board HAS to have shown traction in the US or a bid of +40-50% will land on the table as a taster..... then Volex will come in again at 130ish.

I'd prefer any rise to be based on speculation that the BoD have succeeded in addressing the US outlets rather than anything supposedly concrete at this stage. The company is two weeks into its pre-results closed period so nothing is happening on the surface. I suspect an aweful lot is happening below it after Volex' interest was rebuffed. Blackrock were obviously upset at the decision as they have reduced their holding when other instos have remained supportive. Will a bidding war ensue if the BoD have not performed? Probably. Are the likes of Siemens and TE hovering alongside Volex?? At the current MCap with quality contracts, a global platform and Blue chip customers it is difficult to see this pushing lower. The downside imo looks limited whilst the upside looks inviting. One way or another, TT will either perform better independently or be ingested by a bigger suitor who can immediately apply economies of scale and streamlining.

Final results a week on Tuesday should help this rise from current depressed level.

Looks like Blackrock still putting pressure on the sell side. Being mopped up but it's really suppressing any upswing. The only possible consolation is a corresponding kick and rebound when it ends and pressure falls away. The fact that TT haven't restated the lower end of £37-42m adjusted ptp since the books closed and a now probable ptp figure of c £25m still leaves a lot of wiggle room for positives to redress the fall. Playing switchback till March 4th

Certainly looks that way. Wrt previous poster pointing out that £37-42m adjusted profit this year would probably mean £27m ptp ..... the MCap is only £150m giving it a y/e p/e of 6. That's far to cheap. BoD see improvement in current year so prospective would drop accordingly and plenty of scope for upgrades. The depth, diversity and quality of TT businesses in future-proof markets is key. The price is definitely being capped by sales at present but volume is low so I suspect a lot happening behind scenes in this closed period. Interesting definitely but perfect entry price for undecideds.

Certainly looks that way. Wrt previous poster pointing out that £37-42m adjusted profit this year would probably mean £27m ptp ..... the MCap is only £150m giving it a y/e p/e of 6. That's far to cheap. BoD see improvement in current year so prospective would drop accordingly and plenty of scope for upgrades. The depth, diversity and quality of TT busine

Optimists build aeroplanes

Pessimists sew parachutes

This will fly......gosh I'm an optimist ;)