Member Info for jedclampit

I think it's fair to say that if there is an extension then the bidders must be prepared to offer a price in the range that the bod's is looking for otherwise it's a complete waste of time and money for both parties, and I would have thought they have made that clear to both sides. So all looking more positive than negative at this point.

Well many are stillwaiting for the Friday rns that says vog is shutting up shop as they cannot get out of the deep hole they have dug themselves, and theres NO light at the end of any pipeline.
Whilr Foo is sunning himself on a beach somewhere with drinks in hand counting out his money.

It doesn't say a price at all in any of the rns's but you have to look at the company and what it's worth, it makes good profits and trading in 28p-40p range. So why would the bod's sell the company for less, only my guess but the bod's must be looking at between 45p-60p minimum and they must have made their point and price range to the bidder or what's the point in doing even more work and cost that would just be declined by AA.

I think there must at least be some sort of agreement between AA and the bidders.
In that both sides must have said in their talks that we are looking at a rough price margin of say 45p-60p and if that's not in the same area then what's the point in taking talks to the next level, after all it must be costing both sides shed loads of money.

I think this all looks positive but the AA bod's are going to push on regardless with their results plan, I guess to put extra pressure on a bid so we will know by 29th anyway.
The Consortium must, by no later than 5.00 p.m. (London time) on 29 September 2020, either announce a firm intention to make an offer in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer,

The Board currently expects that a further extension of the deadline will be required. Such an extension would only be granted with the consent of the Panel and following a request from the Board, in accordance with Rule 2.6(
The Company confirms its intention to publish its interim results in respect of the six months ended 31 July 2020 on 29 September 2020.

This bit of the rns says it all
Any possible offer remains subject to a number of matters including, inter alia, the completion of the Consortium's due diligence and the finalisation of documentation. The Board now intends to progress its discussions with the Consortium regarding a possible offer and a further announcement will be made in due course as appropriate.
Looks like both sides are now on the same page and talking about a price area and I would imagine much / most of the due dil has all been done.

Well we all knew that was going to happen anyway, but what's more important is who bought the 2 2.5m shares yesterday and was it one of the current holders so I would expect a holdings rns today.
This should push up the sp again because they must be looking at 45p-60p still

You can buy as many shares as you like in the market if you can get them and yes they will be consolidated by 15 at the time of consolidation.
However if the deal does not get passed then you will still own the shares you bought and they could carry on trading at or above that price, but the chances are the deal will be passed. good luck.

Both posts at the same time but your finger just beat me to the button, well done.

AA confirms that it has consented to a request from TowerBrook Capital Partners (U.K.) LLP and Warburg Pincus International LLC (together the "Consortium") to explore the possibility of a consortium offer for the entire issued and to be issued share capital of the Company. The Consortium has confirmed its strong interest in pursuing a possible all-cash offer for the Company, including an intention to de-lever the AA's capital structure significantly, consistent with the Company's objectives. Any possible offer remains subject to a number of matters including, inter alia, the completion of the Consortium's due diligence and the finalisation of documentation. The Board now intends to progress its discussions with the Consortium regarding a possible offer and a further announcement will be made in due course as appropriate. However, there can be no certainty that any offer will be made for the Company, nor as to the terms on which any offer might be made.
So still on the cards

So now we know why the price has been taken down today, it was for 2 big buys of almost 2.5m , so was that the same buyer and if so was it done by oneone building their stake and about to bid .
Don't think AA are going bust in someone's book. so watch this space on Thursday for a holdings up-data.

We only have another week before the results and I guess AA would want to put out any offer /bid before that. We must be close as Platinum Eq & Centerberg have both pulled out and the rns's say with the agreement of Tower . So maybe they have agreed between them who's going to bid and at what price and maybe then share out the company. who knows. My guess is an offer before the weekend at 40p+ still.

Sorry it wasn't JPM it was goldman.

From JP M , Consortium comprising Centerbridge Partners Europe, LLP and TowerBrook Capital Partners (U.K.) LLP
Still buying shares , so haven't sold out.

Goodness we do seem to have a lot of expert posters on today that know all about AA , and many of which have only just got involved in AA for the first time within the last week or so.
So I think we can say many are just shorters and looking to drive this down more to make money,
fair enough but we cannot take advice from you.

I'll be glad when this is out of the way, one way or another.
What's happend to keeping things simple in life. but then this is the city and legal people and they love making things difficult don't they.

So what does that mean ?
I read it as another bidder is about to make an agreed bid with AA, so the others have all pulled out on the same day. I might be wrong but why all pull out on the same day?

If you re-read the rns's it says they have pulled ot , following the announcement of a firm intention to make an offer for AA by a third party;

should read because another bidder is putting in a firm bid.

What is your gut feeling and go with that, then you only have yourself to praise / blame because things never work out the way we want.
And it is the same for all of us with this.