Member Info for alan80

The original bidders not unexpectedly have come back with a 340p offer. Although with these things nothing is certain I would not be surprised to see the second bidder come back with 350p and that is the final price.

Huge number of shares traded yesterday above offer price, so that is telling as to what is likely to happen next.

Morgan Stanley not ruling out a further bid, so they remain in the game

Will we see a Morrisons type situation, current price suggests there may be more action.

New offer much more like it. I actually voted against the original offer, although it would still have gone through if the new bid had not arrived.

Congratulations to all those who got out at just over £3 when the possible offer was announced. The actual offer is I feel quite underwhelming, but I doubt we will have a Morrisons situation with major shareholders not happy with the offer on the table. No doubt the main shareholder here has given the green light to this. I'm not surprised at the contingency element, but the size of it is poor given that if tax is repaid to Augean it will be worth at least 40 pence per share. After so much time negotiating this offer they come up with something that is as I say underwhelming, and perhaps could have been arrived at far sooner.

Looks like a buy from another large shareholder, as this was above the market price being quoted

Decision this morning in favour of Augean on an interpretation point in their tax case. Whilst not a decision on the overall merits of the case, this is an important step forward. HMRC have 8 weeks to appeal if they wish.

It's difficult to say. I'd be happy with £3. Christopher Mills sold a million and a half at £2.30 four months ago. That can be interpreted in different ways though. Those buying at £2.80 today probably know something, and you would imagine they are looking at make a small margin gain. I can't help wonder about other waste operators who might see the landfill capacity Augean have as something to go for.

Move up this morning seems to suggest that an offer will be made.

If the opening this morning is anything to go by then there is no deal at the moment. MS have to say one way or the other by 5 on thursday

It was always going to come down to whether Christopher Mills accepted what was proposed. If yes, then it's a done deal. If no, then there is little point in a bidder making an offer without agreement. We will find out this week.

Amazed no one has commented on the news of a potential offer. Even at the current price just below £3 it looks low, given the impact a win the tax case would have.

Thanks Oi Oi, really interesting insight.

Oi Oi, why do you think it is not currently quite working for them? As you say others are doing okay.

I meant to say unannounced, not announced second sale at Wilton. Agree with Toad and Gallmat that money could be better parked elsewhere for now.

Very underwhelming set of results. Not surprised at the big price fall. I would have hoped there would have been better news on the debt position. I might be wrong, but in the post results period they have sold off a previously announced second piece of Wilton - might point to the situation they are in.

Thanks Oi Oi that's a really helpful insight into this market. I was looking at the current share price and value, adding the level of debt and concluding that it seemed significantly undervalued, but as you point out there are lots of variables in reality.

Oi Oi what sort of value would you put on Cheshunt and Wilton park if in the unlikely event there had to be a fire sale?

The spread is still 20% today