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Good analysis HKK
If Poppy thinks 620 p saves dark from court case and she still need to testify ? Then 620 p could be it , however I think there is a 30 per cent chance for Jeffries to find another buyer at 720 to 750 p … because they announced 890 p recently I sense they knew this bid was coming
How long does a new bidder have ? 30 days or 60 ? Or 90 ?
When will the vote be ?
I am not sure how many shares the big shareholders have ? How much does retail have .. I sense the vote might pass the sale if no better bidder comes
Investment banks are hungry for deals , huge lack of IPO and M and A … I am sure more than Jeffries Ibd are trying their luck to find a buyer …
I am still holding … Dark in the hope a new buyer emerges
Then we could have 720 to 750
I still think Bravo are a good partner for Dark so they may increase to 820 p and we are all sadly bought out !
820 is my target
I believe even if 620 is not approved by a vote , Dark shares will still get there within this year ( but I will miss out buying on the dip )
Darktrace departure casts a shadow over the City
(The Times)
A previous bid may have been described as a “distraction” by its chief executive, but there was no dismissing the significance yesterday of Darktrace’s decision to agree a £4.3 billion takeover deal with an American private equity suitor and to walk away from the London stock market.
After a turbulent life as a listed entity, the British cybersecurity company has accepted a cash offer from Thoma Bravo, the private equity firm that had abandoned a previous tilt at the Cambridge-based business.
As a result, Darktrace will quit the glare of public markets that had become increasingly fierce as the company was beset by multiple short-seller attacks and by questions over its links to Mike Lynch, the technology entrepreneur who was extradited to the United States.
Lynch, 58, is on trial over charges relating to the sale of Autonomy, another company he founded, to Hewlett-Packard for $11.1 billion in 2011. The American buyer wrote down the value of its acquisition a year after the purchase and alleged that the British business had engaged in “serious accounting improprieties”. Lynch has denied all charges.
Lynch was a founding investor in Darktrace and, while he has no formal role within the company, remains a significant shareholder alongside his wife, Angela Bacares. Poppy Gustafsson, 41, Darktrace’s chief executive, has been regarded as his protégé after working in Autonomy’s finance department between 2009 and 2011. She is due to give evidence at Lynch’s trial.
Darktrace uses artificial intelligence and machine learning to detect vulnerabilities in its clients’ computer systems and to provide protection against cyberattacks. Its AI systems seek to identify when digital activity diverges from normal patterns.
The business was floated in April 2021 at 250p a share, giving it a valuation of £1.7 billion. The shares rose to about 945p during the year of its market debut, but came under pressure as short-sellers made allegations about the state of its finances.
Andrew Ripper, an analyst at Liberum, the broker, said Lynch’s legacy had been an issue for Darktrace. “There are quite a few people within the company who are ex-Autonomy,” he said. “Lynch and people associated with him had a holding in the business and that has been a factor in the share price volatility and investability for institutional investors who are concerned about governance and history.
“The board has done the right thing to make the company more investable over time, such as more independent non-executive directors.”
One City source said: “In the case of Darktrace, the main discount was the legacy of Mike Lynch. Obviously it’s not good news for the UK stock market because they were starting to cleanse themselves. All that hard work will go to Thoma Bravo or someone else.”
Thoma Bravo, a specialist technology investor, made its first approach for Darktrace in 2022, but walke
Darktrace is Sexy...........whether 620 p or 820p .....where to invest the proceeds.... which UK listed funds or Shares are low now with a 25% upside or more , within next 12 months ??? your top 3 ideas???
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Anyone a good Poker player?
Howa bout this theory
Poppy puts Dark up for sale ...Thomas Bravo starts low 620 p..
Jeffries brings in a white knight 720 to 750 p and calls Thomas Brovo bluff
Then Thomas Bravo forced to up trheir bid over 800 p to around 840 p give or take 5 %
and Game over ...:):) at 840 p + or -
OK how could we get 820p or more.
Poppy agreed to the low ball offer of 620p , knowing that Dark was now up for sale, she knows the whole world including Microsoft, Google etc are watiching....these type of firms what a UK footprint
So a cash rich player could potentially come in and offer say 750 p for Dark.....and then Bravo , who still has dry powder ups their offer to 820 p final offer.
I am just wishful thinking?
Sheltie , yes agree Poppy has caved in ( I guess because of the uncertainties of the Mike Lynch court case ) and also because secret negotiations with bravo , bravo probably ogffeted her 100 million pounds of shares to lead the new entity , easy for Bravo to bribe one person , We are not Privy to how much she was offered under the table
So far hard to see who else might buy.... how much time before a vote?
620p could be it, but FT articles confirm other bids may or may not happen
Is anyone familiar with Takeover rules
I think the ongoing ML court case did not help Poppoy hold out for more
Dark board agreed to offer which I find amazing and unbelievable …
Dark board means Poppy and Co
What’s the timeline on this
I hope you are right and a rival bidder comes or a bidding war happens
The price is currently 608 p ? What does the market say when 608 p and not 620 p ?
It looks like Dark has accepted a low offer, ....the major shareholders might have most of the vote so retail investors might have no say?
How is the timetable ? One month or so?
This time both sides have agreed , both Thomas Brava and Dark board...
Where should we invest next?