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Dr.Lao
your probably right but somebody last night tied in the first few lines of the Matt (THG) video in with "the steves" and Ste2K was reborn "pond scum Steve"
https://www.linkedin.com/feed/update/activity:7054132342482718720
Pearls,
Clifford Chance have quite a good summery on takeovers (link below), had a few beers so not going to disagree . As I said you may well be right I am not up to speed with it all and working on how it use to be
https://www.cliffordchance.com/content/dam/cliffordchance/PDF/takeover_guide.pdf
Pearls
Use to work in the city but was quite a while ago so things may have changed (in fact probably have), but here is how I understand it
Your entirely right, however there is catch. The management must grant an extension for this to happen to the date specified in the RNS if the initial suitor is rejected for whatever reason. It would take a second suitor to make a bid prior to the date on the RNS to start a new time period. Its only after a bid is accepted that it really becomes a free for all
So when the offers were made for THG last year and the offers were rejected that was it as no extension was granted and no other bidders made themselves known during the period
Have to admit I found the Video great and inspirational , which I imagine was it purpose
Its the end game alright but leaves the What Now question?
I couldn't understand why the approach now as it could be veto`d (with the golden share not being given up till after the summer). I think "Moldy" intended this all along, started the bid process when a dumb journalist gave him a reason and its now gonna be a management buyout while the company is protected by the Golden share.
This share chat board has always had teams of short positioned people who always try to push the price down either for themselves or their short fund masters. "The Steves", jumped on a couple of hours ago, same time as the spike down in price by the shorts, but are around on their alts, throwing in rubbish. It is what it is
Of course now the FUD machine is in full overdrive and the volatility is spiking all over the place, sit tight play out the volatility and reap the rewards (probably 100%+) of the bid process.
This is the End Game they want your shares
"Onsolidground"
just put the link into the top line web address on the browser (not google search)
https://stream.brrmedia.co.uk/broadcast/64185dd837aa9c3b3147f16e
This share has always had teams of short positioned people who always try to push the price down either for themselves or their short fund masters. Of course now its gone into overdrive the FUD machine is in full overdrive and the volatility is spiking all over the place, sit tight play out the volatility and reap the rewards (probably 100%) of the bid process. This is the End Game they want your shares
If you don't think that the Premier chat board (over 500K posts yesterday and probably thousands of readers) is not used to manipulate perceptions then I would point out that the spread in market cap from high to low over 3 days is over half a billion pounds, its not peanuts.
Be interesting to see what transpires but there are some questions to answer here.
1. Price (companies like Apollo) don't normally off over 100% premium and often less. 100% to Fridays close is 132
2. Apollo is obviously aware of the Golden share issue, could they be working with Matt
3. Is this a bid to flush out other bids or the MBO
4. Timing of the bid is unusual (day before results and Q1), were they forced by some event we don`t know about yet, breaching 3% or a possible rival bid or MBO offer
"The Board of THG notes the recent press speculation regarding THG and confirms that it is currently in receipt of a highly preliminary and non-binding indicative proposal from Apollo Global Management Inc. ("Apollo") on behalf of certain of its affiliated funds, to acquire the entire issued and to be issued share capital of THG (the "Proposal"
Market will love this because its a Big name Apollo
Blert
Sinking to the level of "the Steves" is never a good idea, they are simply trying to cause conflict as the Share price is rising. Sit back enjoy the rise, and hopefully we all get some more information tomorrow on the direction of travel.
Remember....tick tock goes the clock on the Golden share being given up
Only got a small holding of 2500 in an Isa, picked up late march at 245. Had expected to hold for a while but nice when things work out better than you expect.
I think tomorrow will be fun probably 340 plus, as this offer looks like it has legs