The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Agree Kingalf. Obviously anticipating the CD&R bid they have increased in advance....question is whether that takes CD&R out of the game or not. But either way 270p nailed on now and will get approval. As a shareholder I think 270p is fair.
Market expects another bid form CD&R. Either way 270p now the floor. Hold and see what happens.
CD&R bid could still arrive
More to come I think. HOLD!
Until this is signed and sealed there is always a chance the deal could collapse. The price will rise as significant milestones towards completion are reached. Those wanting quick returns have sold today....SP should steadily rise from here and all going well you will get your full £8 at the end of it...alternatively as the SP increases over coming weeks with more certainty you will have the opp to sell out closer to £8.
Ha ha...3 posters coming on here today to de-ramp. Nothing to see here.
Luckily this is a pretty sensible board (most of the time) and they stick out like a sore thumb. Good to see 25p this morning...won't go up in a straight line but looking good. GL holders.
Hi. You do not need to sell now. You will get the full 800p.
"The boards of directors of Parker-Hannifin Corporation (Parker) and Meggitt PLC (Meggitt) are pleased to announce that they have reached agreement on the terms of a recommended cash acquisition of the entire issued and to be issued ordinary share capital of Meggitt by Parker."
Key words: entire issued share capital.
Well done all holders. Been in since £2.90...finally a company which has realised its true value. Amazing!!
Wow 800p! Am I reading this correctly!! Fantastic news....
Another major shareholder...
JO Hambro :
"We reiterate our view that any offer for the group approaching 270p-a-share merits engagement. We believe the market shares this sentiment."
https://t.co/DqTOxTVEK0
FT reporting this evening that the Singapore Sovereign Wealth fund is joining the fortress lead PE consortium
I would be surprised if it is news of masks on planes which has dropped the price. Surely this was expected?
Good move n1shares on M&S. I have added more to my M&S holding today too and continue to hold onto my MRW shares too.
Agree. Making the market re-value this sector now. This could move us back into the 160s on market sentiment change alone.
Disagree Lunatic. Not about greed at all.
LTH have been waiting for this for a long time most sitting on an average sub £2 and having taken decent divs over time . Market woken up to the value of the business finally. this isn't a small cap pump and dump...if you were in it for short term 10% happy days take your money ...but as a LTH my floor is now 254p but potential upside to 280p+.
Will continue to hold and see how this plays out.
Said this when the first news broke about a takeover... If you are LTH... Don't sell like a few did at 230p. Floor has been set...bidding war is underway.
Fortress approached Morrisons on 4 May with its first takeover proposal (CD&R approached on 14 June and was rebuffed).
Why was the initial offer not disclosed to the market?
Argh autocorrect. I meant market expects a higher bid if we see sp 250+
If it goes over 250p...Market recurve another higher bid