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Today's the day.
Meeting is at about 11:30am and results should be known soon after.
This will give them weight in the vote at the end of the month?
Why are people buying kcom shares higher then it will be sold for?
oh that is just wierd..... currently 119.80, I assume none will break the 120 barrier
So.. what happens now, are Kcom shares put on hold tomorrow or are they still traded?
Seems strange to still be able to buy at 113 if it’s soon going to be sold at 120?
I feel a bit sorry for them in the end, they gave a good try at 113 and they are a UK company, but...
from there website
The winner of a week-long takeover battle for Hull broadband provider KCOM is set to be revealed on Friday.
Bidders USS (Universities Superannuation Scheme) and Macquarie have been locked in an auction since Monday, with the takeover price rising throughout the week.
The highest bidder is currently Macquarie, which bid £578m for KCOM on Thursday evening.
Both firms are still in the race to buy KCOM, and will submit final offers for the telecoms company at 5pm on Friday.
The winner will then be revealed.
Looks like confidence is dropping that their is going to be a big bid.
piffff 0.8p meh
Not heard any updates of any further bids?
Maybe someone is buying enough voting shares to stop the deal going through when it goes to a vote
It seems strange they going for 116p when the bids are 111p with only todays to go and only rising by 0.5 or 1p
What implications does the below have?
One of the companies bidding to acquire Hull-based broadband and telecommunications provider KCOM has been granted an extension to its offer.
In April, the Hull-based telecoms group's board recommended an offer of 97p per share from Humber Bidco, a subsidiary of Universities Superannuation Scheme Ltd (USSL), to shareholders. The £504m deal had been set to go before KCOM shareholders at a court meeting and the general meeting on 5 June.
A second offer was received in May from MEIF 6 Fibre, a wholly-owned indirect subsidiary of Macquarie European Infrastructure Fund 6 SCSp - an investment fund managed by Macquarie Infrastructure and Real Assets (Europe). The new bid represents an increase of 11 pence on the USSL offer and values the company at £563m.
Humber Bidco has now reached an agreement with KCOM to extend the shareholder meeting lapsing date to 14 August 2019 and the hearing lapsing date to 23 August 2019.
The company has also announced that it has received written confirmation from the FCA that it has determined unconditionally to approve the acquisition.
The KCOM said it had consented to the extensions in order to facilitate a potential process under the City Code on Takeovers and Mergers to determine final bids from each of Bidco and MEIF 6 Fibre. It emphasised that there was no certainty that any such process would occur.
Anyone know why they jumped up in price today to 111.60?
How do our shares get bought, do we just sit tight and wait for the process to go through, or do we go looking to sell personally?
https://uk.finance.yahoo.com/news/kcom-opts-sale-macquarie-unit-063928022.html(Reuters) - Telecom network and cloud-based service provider KCOM Plc has ditched plans for a sale to British pension fund-backed Humber Bidco in favour of a higher offer backed by investment firm Macquarie's European Infrastructure Fund, KCOM said on Monday.The offer from Macquarie-backed MEIF 6 Fibre Limited amounts to 108 pence per share for KCOM, 11 pence higher than that submitted by Humber Bidco, owned by British pension fund Universities Superannuation Scheme Ltd (USSL), KCOM said.MEIF's offer values the company at 563 million pounds and represents a 49% premium to KCOM's closing price on April 23, the day before Humber Bidco announced its offer for the firm.Macquarie funds have been investors in critical telecom infrastructure since the early 2000s, including investments in European players Arqiva, Poland-based INEA and Denmark's TDC.In April, USSL said Humber Bidco would buy KCOM for 504 million pounds, with KCOM's largest investor and Europe-focused activist Teleios Capital backing the offer.KCOM issued a warning on profit last year after a slew of management changes including the departure of its chief executive officer and finance chief.Former BT Plc executive Graham Sutherland was appointed as chief executive in October and he announced a review of KCOM's business strategy a month later.