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Joe judging by the leaks and Chinese whispers, it is fair to assume any announcement on 22nd will be factored in beforehand.
What is'nt known is how Publicans will determine whether or not opening being viable given the rules that may or not be imposed.
Lots of if's and but's!!!
AIMO

Words of a true Professional!!!

Peak.......1st golden rule to investing, do your own research and never be encouraged or otherwise by anyone, then an investor cannot blame anyone else.
Is it reasonable to conclude you are relative newcomer to the Stockmarket?

Watching cricket, last week No spectactors, today many, not socially distancing and wirthout face masks, India had one of the highest infection rates. What is going wrong here?

M&B's current SP is at almost a 20% discount to the NAV., hardly crazy!
Price is what you pay, value is what you get!

Ok Trent, I was not sure. Hope the poster provides the reasoning behind the suggestion.
Cheers.

Hi Trent, not sure is that meant for my reply?

Red....guess you cam in at around 100p and now want to recover and profit. Marston were last over 125p almost 2 years ago when the div. was very good and they owned a brewery 100%
PI's should remember all the time pubs and accomodation is closed company's still have overheads and debts to service. In Marstons case Debt waivers have already been excercised twice and due for review in April. BNP Paribas are in the wings to take over Loan Notes from HSBC, however the conditions will be rather more onerous for Marstons.
Whitbread have just agreed waivers on their loans. The loans providers have agreed on the basis NO Dividends are payed.
Marston waivers have similar undertakings.
Having just 40% interest in the combined brewery may seem OK to a degree but the Piper ( Carlsberg) will no doubt dictate the wholesale price of beer supplied to Marstons pubs...margins may not be great. Would good to get Daave's view on this aspect/

Barchid, quite, don't hold your breathe.

PI's should research and take note of the Tetley JV. started at 50/50. Leeds brewery closed and within 5 years Carlsberg owned 100%

The writing was on the Wall when Mars, rushed out the RNS after business last Friday. That was a Red flag to Platinum. Cannot see any other bidder/predator being interested in a Company whose CEO regards it as Untoucable.
Apart from temporary spikes this is now for the LTH's
Make no mistake there are turbulent waters ahead. Just wonder how much info we will get on CMBC's financials?

Do not be under any illusion this will not get to 121p for a considerable time. The whole hospitailty sector is in a mess and no cetainty when this lockdown will end. Even then there are bound to be restrictions on some Social activities and a gradual opening-up. It seems clear Pubs are low down the pecking order for re-opening.
The values being posted here are pure conjecture, how many have researched the financial background of Marstons?
RF seems convinced the future is rosy, that Brain's deal is going to add value, but hang on the Welsh mission comes with hostelries that need refurbishment. Are Marstons to fund? Cannot see Brain's funding in their position, therefore until we see details of the Agreement promised last friday, is it reasonable to assume Marstons are going to fund works to Managed properties to bring to the Excellent standard Ralph promised for our own estate once the Carlsberg deal completed.?
That could be money down a black-hole.

RF has made some questionable decisions in the last 3 years, hope this is not another. As for leaving the door open to further offers. think again, the BOD will reject

It will be great to get out for a Pub Meal, however noises coming from Westminster seem to indicate, when re-opening happens it will be for food only. The belief being, it is not difficult to accept, alcohol effects behaviour which the authorities cannot control.

PI's should review and compare NAV's of co's within the sector.
Based on the latest published NAV's
M&B trade at 10% below.
Fullers trade at 50% below
Marstons trade at 160% above

I am not convinced the Welsh journey is going to return the values projected. The Brain's estate is a failing one. The Red Dragon Brewery which Brains retain ( did Mars reject this part of the deal?) has been on the market for sometime, there is no interest.
The BOD state working from home will benefit suburban Pubs, cannot see how this will work through?
Good to Daave's view?

After Friday's events , No surprise. Could not see PLatinum taking over a bunch of pubs under management and Brain's are not prepared to sell. We are still waiting for the Management contract details promised to be released at the same time as Agreement completion.
We will soon see how the market reacts?

Check the RNS both lots were bought on the same day. Maybe they ( Bridget Lea and Husband) are getting their accounts up to date???

Mardler you believe in early December when Platinum made 2 undisclosed offers they were privy to negotiations taking place between Marstons and Brains? If that is correct Shareholders and possibly the Regulator need to be advised. Shareholders were not advised of the Brain's deal until 23rd December and mention of the Platinum offers were not discovered until the end of January.
If Platinum increase their offer as suggested the likely-hood of the BOD recommending acceptance is remote., they are interested in Assets not management agreements, RF knows this all too well.

Dividends were good as is the discount card which was being reviewed 18 months ago.

Barchid, completely agree statements after close of play on a Friday are made for a reason when the market has NO chance to react. I add the shortness (2 lines) tells me the news was rushed. Apart from timing and length of the RNS just consider the original RNS (23 December) which stated, " It is anticipated that the transaction will complete in February 2021 and a more detailed presentation of the transaction will be set out on the completion date"
If the RNS was not rushed, where is the detailed presentation? An Agreement of such importance would surely have completed details in good time.
The haste and timing of last night's announcement, adds weight to the view not only were Brain's becoming nervious but RF has no intention to consider a Bid. Until we see the terms of the Agreement with Brains, there is no knowing how tied Marstons are to the Wales estate. It is speculation until those details are fully known, but imo the deal with Brain's has been hastily completed to not only satisfy them but also to signal a Red Flag to any Bidder, "WE ARE NOT FOR SALE"

As far as the BOD considering we are under-valued, that argument holds no water now as Platinum will (a) walk way, (b) see Marston do not wish to consider any offer/negotiation. Platinum are not interested in a bunch of Pubs which Marstons do not own.
Rooney Anand's intentions have been known for many weeks, so Old news . Hypothetically any interest Rooney would have in the Marston's estate will be limited considering the JV with Carlsberg. More likely Rooney will find better opportunities elswhere.

Those PI's who have bought in below 45p may regret not cashing in their chips this week.
I could be wrong but will be surprised if we are not headed back towards 70p.
AIMO
GLA.

Londoner, IMO yes it will deter a bidder. The Brains estate has no asset value to Marstons and importantly PI's do not know what binding conditions are within the Agreement. As stated recently, one does not know what RF's game is.

Apart from market sentiment today within the sector. Whitbreads up over 3.5% and MAB up almost 9%. it will be surprising if we do not see the SP retracing on Monday.

Have a feeling the Deal completion with Brain's has been brought forward, maybe wrong but had thought it was mid-month. It could be a deliberate block on any further offer from Platinum.

Hope Ralph knows what he is doing.

He has the right acronym..talks a lot of it, and not invested here.

London we are on the same Hymn sheet.
Some of us here have concerns when unreported approaches were happening at the same time Undertakings were being ironed out with Brains. It is pretty evident Marstons have given Brains a life-line, which in my opinion, and may be wrong, undertaking the management of an ailing estate could become a drain on Marstons resources. If Brains who are a very long established and own the Freeholds of their estate, are in trouble, I am not convinced "fresh management" are going to miraculously return the numbers being quoted.
I hope the company is not on an Ego trip!!

AIMO