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Those after hour trades are possibly trades during the day that get settled off book after house and sometimes they vary quite a bit from the closing price. Unless we get a pre-market TPG announcement, the premium over 11.25 is likely to disappear tomorrow.

£25 would be a dream at this stage. If a new bid comes in it will be at £12-£13. Lets see if new bidders appear. Its a very tempting valuation to be honest. If none do I think they will struggle to get the 75% approval threshold.

Expect the stock to drop to £11.1 range tomorrow if no new bid is announced at opening

Deadline past and gone now. So 10% of employees to be made redundant and they then IPO or sell the combined business in a year seems to be the plan. I'm sure it's not just us investors questioning the logic of this deal

@Mattthebrave 4% downside vs. upside potential, I would hold and take the risk.

My bad he did: Kingdon + Bathgate + Moss + Jupiter + Lead Edge = 23%

Insiders representing half. Looks weak to me as insiders may have gotten golden parachutes or stock option promises from Vista

Did he vote for the deal? Looks like Bathgate and Moss did, but not him as he owns 6% on his own

23% of votes already committed to the deal. Still some way to go to get them over 50%. Maybe small investors need to talk to James Rasteh. Horrible deal

Alco098 it's suspect tbh, the amount of confidentiality that should be followed with M&A deals are no joking matter, especially on final terms. Bankers can get ruined if it was from them. It sounds like an inside job from Blue Prism (or Quattrone) to get TPG to make an offer.

Bathgate, Kingdon and Moss all have substantial stakes. Why would they agree to such a low price? A combination almost certainly means Kingdon and Moss lose their jobs post transition. Only way I can see it work is if it's a merger where Tibco was listed and this allowed Blue Prism to get to the US and shareholders that don't want to sell get shares in the new entity. Vista want to sell Tibco but I have yet to see them plan an IPO or a SPAC listing.

@AutomationGuru Directors with conflicts of interest should not vote on such matters anyway, plus as an independent director he wouldn't hold much shares if it came to a shareholder vote.
Vista were looking to sell off Tibco a few months back, and I don't see a natural fit with Blue Prism being part of a smaller cloud player when they're busy building stuff on AWS instead.
At least we have a floor price. A disappointing one nonetheless

Ignore until you see official news. No decent CEO or board would recommend a buyout at less than the current share price given they have complained long before the drop to 800p about the discount vs. competitors and the need to list in the US. It might very well be an injection of capital and not a buyout offer. 0 chance an £11 offer goes through

@Fairy1 even when an offer is made it takes months to close the deal. Sometimes there are regulatory and anti compete reviews to go through which can extend closing. In Blueprism's case its most likely board and shareholder approvals and tender process for your shares by the acquirer that can extend timelines. Shares will trade at a slight discount to offer price when it's made to factor in the risk it doesnt close, unless there is a strong belief in a competing bid. Case in point would be Morrison's. You don't need to wait until Tender offer is made as the share price should be quite close to the offer price.

Oracle, Microsoft, IBM, Salesforce, Automation Anywhere (most likely to least likely). I expect TPG to make a bid

Might be an offer on the table but not one that management or board would like. Private equity drive a hard bargain from my experience, £13-15 range probably, unlikely to be anything more generous as an opening offer. I think with Quattrone on board more bidders will appear.

Due diligence activities take time. Slightly easier for a public company, but the 28th cut off means the PEs are going through the process and have a very short turnaround to present to their own investment committees for approval before making an offer.

On a buying spree. They added 150,000 shares between yesterday and today

Coast Capital were mainly afraid of a cheap deal i.e. something around the £13-15 range. For them to be comforted, means that is unlikely to be a serious outcome. Investors are not in it for the company to do well after their shares are sold on the cheap.

Not sure how to read it with regards to the chances of a buyout in the near future, but the stock price at least shows that an active investor group trusts this management team.

Who is the second guy? Kind of looks like Maurizio Carli, one of the non exec board members, but can't be sure. Intriguing indeed.

Legal and General reduced their position by ~10% and dumped ~200,000 shares at £11.6. Still hold around 1.8m shares. Possibly one reason why the price has dropped a bit today

One more 8.3 disclosure, Terry Walby (Thoughtonomy CEO) holds 1.4% of the shares

PrettyWild Most enterprises using cloud architecture (instead of having physical data centres) would use AWS or Microsoft Azure or solutions from other players like Google, Oracle, IBM etc.. This does not relate to being an Amazon Seller

Most cloud providers also provide a suite of services offerings. Many organisations are heavily embedded on AWS, so this is very good news to see them continue to build out the offering.

You can see everyone with more than 1% in 8.3 filings. Almost no room for any funny business as they have to announce any position changes. Anyway, the only folks messing around with daily trading, but not materially changing their positions, are Barclays and Blackrock.

I suspect it's mainly retail and algos moving positions around as we wait for any news