Member Info for fairdealer20

London on the basis of your thinking Carlsberg are in the background to take out Marston's 40% ( something I suggested a few days ago). Remembering any bidder have got to appease Carlsberg as the JV requires Marstons to retain at least 50% of it's Pubs.

Trent, the is there seems a certain "Bon Homme" betweenBrain's and Marston's, and for sure the managed Pubs are of no interest to an "Asset Broker". Do'nt forget the previous offers, which were not publicised until very recent , were made behind closed doors when even Platinum were not aware.
The question being is Ralph in a sticky place where any offer is concerned?
It is curious just over 12 months ago a raft of pubs were sold to Admiral at a considerable discount and now the BOD considers the Platinum offer massively under-values Marstons. The rationale between the 2 is difficult but not impossible to understand.
One senses even an offer at 150p ( very unlikely) would be rejected by the BOD.

Barchid, digging into recent history may provide a clue.

Carlsberg deal completes 30th October.
Deal to manage Brain's pubs agreed and contract exchanged 22nd December
We now know Platinum made 2 offers in December.
Ralph has made it clear following the separation of the Brewery Business his intention to build a Pub, Accomodation Business par excellent. The statement by both RF and Brains Chairman on the conclusion of the deal was extremely amicable. John Rhys of Brain's , said, "This agreement marks the formation of a lasting strategic relationship with Marstons which secures the future of Brain's Pubs"
Considering the above and now Platinum's latest, unsolicited offer, rejected, is RF inextricably linked with promises to Brains which , to him, make a deal unpalatable? Could his position change should Platinum come back with say 125p. Should he hypothetically, reject that offer, Platinum would surely make a hostile bid going over the BOD's heads.

Food for thought!

Harry, so do you mean the Carpetbaggers have arrived and do not know the Company's fundamentals, but are being influenced by media opinion and or the Twitterarty.? They will move on before long

Newboy...PI's who were sucessful in the Placing will not have the shares in their trading account for a few days yet. So who are selling?,

Barchid, he has been a Director for 24 years so maybe getting complacent?

Not at all Jim. Had glanced at his posts on Omega. Cheers

Doubt anyone will get what they bid. Could be worse than Graphene ( 15%)

Offer has closed. Must be massively oversubscribed

DD I beg to differ. The powers that be have acted so rapidly with site specific testing ....are they worried?

Daave very agree. Pubs, Hospitalities not open until at least May and then possibly on a structured basis to prevent a kind of madness many expect when the "jail doors" are opened.
Carlsberg only interested in Brewing which can be retailed through outlets other than Pubs. They know only too well the Traditional British Pub has been disappearing for years.

Jed.. you thoughts on possible take out prices is not agreed by the Market, we would be someway North. The market seems unconvinced we will go much above the percieved offer.

London, No a bidder will have access to the shareholder register. What ordinary PI's who have shares held in trust by their Broker, need to keep a close eye on notifications that appear on their Brokers account

For a Board to state the company is grossly undervalued, is setting them up to either deliver a value, to shareholders, they consider appropriate or someone will have a hell of a lot of egg on thier face.
To consider previous approaches were not important to report is treating Stockholders with disdain. There were 2 offers not one. Even though RNS were not produced at the time, there is no mention in the Annual report. Confidentiality at the time is acceptable, but there should have been some statement later.

Platinum can make a hostile bid ( going over the head of the BOD) and coming straight to shareholders. It is risky for Platinum, however they will have done due diligence and lobbied major holders to establish whether an offer would be generally accepted. This has some way to run yet. When did the BOD advise of the earlier approaches?

VC Groups are looking for value. The price they wish to pay has to fit their investment criteria. VC's rarely keep businesses intact as they see greater value in a break-up.
Here's a scenario, Marstons sell it's property portfolio and retain it's 40% ownership of CMBC. So in name only Marstons would continue. May sound a bit OTT, but cannot see Carlsberg being happy having just completed the JV, unless of course they are in the background!

Whatever as Trustees of Shareholder's interests the BOD have a duty to inform of any offer, which they will either recommend or otherwise to Stockholders.

At the moment it is speculation what if any a Bid will be. Platinum are cagey customers and know all the tactics to reel in shareholders. They could be testing the water, they are unlikely to make a formal offer until numbers stack up for them. Do not be under any illusion a VC group are not looking at the health and welfare of target Shareholders.
It is no secret the whole hospitality sector has low income and the future is unclear. This makes many companys vulnerable to a predator. Marstons now are basically a Hospitality Company who have a 40% share in a brewery Company. Shareholder should not forget this as CMBC is a separate Company. Carlsberg is the senior partner and food for thought that informal talks have taken place with Platinum??
Platiinum are only interested in assets that can produce a profit.

is 60 this month(Jamuary) could it be a handsome Pension??

London any holder of more than 1% can and do make a declaration when a bid is in process.
AS already stated there will be other Shareholders, above 1%. Expect further declarations, over coming days. It is quite normal and nothing to do with a New holding.

Barchid, thanks, the deal is not yet done.
It is puzzling to see a VC group making a bid, they usually look for value in assets and break-up ( asset strippers), US Funds are known for it. The puzzle being Carlsberg's agreement requires Marstons retain 50% of their Pubs, is Platinum aware ( they must be) or do they have other ambitions for Marstons Pubs which will fit the JV agreement, unless they (Platinum) know of some weakness within the agreement.
Platinum could be a "Stalking-Horse".

Whether my mascinations have any validity remains to be seen.

We are going to be here for a while yet. The first bid is rarely the last.

Beer Stalker, read the notes attached to annual report. It is correct an Official ( RICS ) valuation is required Bi-ennially, an Official valuation was due in 2020 however rules were relaxed because of COVID