The same happened at SAGA. Sir Roger De Haan coming in with a £50m+ loan after his family sold out many years before.
I wouldn't trust JD as far as I could throw him. He's looking after the interests of team JD and nobody else. The board will do as he requests as long as they get a fat bonus, pension contributions and another job to go to. There could be a twist to this tail but that's an instalment for next week. 4 days of contemplation for other suitors may be the only positive. The brand does have value and for billionaire Chinese textile barons a few hundred million sterling is a drop in the ocean.
Watch this place. Now for the hundreds of told you so posts over the weekend. Switch of now and come back Tuesday 0800hrs.
Fashion chain White Stuff explores sale amid takeover interest.
The pair of entrepreneurs who founded White Stuff in 1985 have engaged Rothschild to advise them after receiving an unsolicited takeover approach, Sky News learns.
Could have some interesting parallels with Superdry.
Following the same pattern as many other stocks. The main point to acknowledge is its the last trading day of the week.
If you've doubled or trebled your money perhaps its time to get out. If you're still under water then you have nothing to lose holding over the weekend. It only takes some negative sentiment by one pundit over the weekend and Monday could be a sea of red. Just from my own experience when greed blinkers the facts.
They could be taken over with the regulator agreeing to a Credit Suisse model. Share holders protected and bond holders burnt. Would reinforce public confidence, especially when the Chancellor is considering enhanced ISA tax breaks to invest in UK plc.
IMHO, Metro has a positive visible presence on the high street and this will not have gone unnoticed by the big boys. The clock is ticking and a deal will have to be done by midnight in some shape or form. If they let it drift depositors will run for the hills if they haven’t already. It would be interesting to see the total withdrawals of the past few days. A takeover circa 80p is still possible having seen those who are circling at the moment. It will be a volatile open and that has nothing to do with Metro, the Israel/ Palestinian conflict will have massive ramifications for oil prices and the energy sector as a whole. Hard hats at the ready.
I’m not keen on using the words “banking crisis”, however this is a crisis for Metro. Probably not enough time yesterday and today to put an action plan together so most likely this weekend will be the horse trading etc. Always seems to be the weekend when banking giants get together. Frankly, I think the best option is for the sector is to rally round and assist if possible or the mood may change on their own doorstep. A close above 40 will be positive in more ways than one. In terms of share price drops, there are bigger players in other sectors that have had larger falls the last couple of weeks and it’s brushed under the carpet. Most FTSE350 companies have humongous debt on their balance sheets necessitating refinancing on a near yearly basis in shape or form. Not like the new norm on residential fixed rate mortgages now 5-7%, business interest rates are 10-20%. Fingers crossed.
I have £60K on deposit and have no reason to withdraw as went through a bank run with Northern Rock 2008/9 with a similar amount.
However, if I had north of £85K I would be withdrawing that portion online now or in branch first thing tomorrow. A positive RNS pre-market / bank opening time will stall a run. Too much in the media this evening to stop the current panic. Frankly the £85K FCA/FSCS limit is well out of date and should be circa £500K. Interesting morning ahead. Either way, who will want to be holding this stock over the weekend without an RNS ? Also mortgage holders will not want to be locked in mortgages if locked in like Northern Rock customers.
No trades since float showing on LSE which is interesting. This maybe a difficult share to trade with very little stock in the mm hands. Time will tell
Somebody had to be first, why not me. Today CHSS have floated and the outlook is promising. Time will tell how the share price performs but this sector is in a growth phase.
Will be interesting to see if holders are chess players or investors or both.
Play nice poeple !
I’m amazed how you could have built up an £80K holding without having a clue what has been going on with this company since 2020. By all means ask for explanations regarding RI permutations and options, however, any decision on what to do and how to or not to invest lays in your corner. Some advice going forward, research, research, research, then make a balanced decision with a maximum 5% of your portfolio invested in any one company and 10% held in cash for RI’s etc.
This RI as with any RI, demonstrates a need to have at least 10% in cash for these events. So many pension and fund managers see it as dead money with at famous quote of “you must make your money work for you”. All very well until RI season arrives like 2020. Having no cash and having to sell part of your portfolio to finance it is counter productive. I try to keep a minimum of 10% in cash but my pension manager keeps only 1.5%. I think this RI will be well short of anticipated take up given the current financial climate and being timed for April which sees the largest squeeze on personal finances on record in the UK with everything from mobiles, council tax, utilities, SKY etc going up from 5-17%. Germany may fare better as a lot of their increases took place on 1st Jan.
Another example of a take over bid praising the high premium on offer. Delve deeper and the offer is far from a premium. This share was 750 this time last year and a fair price now would be in the region of 650-700. The board have no doubt been offered sweetners to put this 3rd bid forward. Phoenix aren’t the only large holders so there may be some pushback which may result in a more reasonable +600 offer. Also, if other cash laden SPACS see the door is half open there may be a competing bid.