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Come on Steve you cant be that thick?
Clueless Nuri shorter lurky...please take a punt on this today mate ;)
Barratt : Berenberg cuts to hold from buy; cuts target price to 459p from 790p * Barratt : Jefferies raises target price to 535p from 531p * Barratt : Peel Hunt cuts target price to 630p from 690p
I have ROCE of 13.6 2021..TTM @ 13.4?
See "Opening Position and Dealing Disclosure Requirements of the Code"
Standard practicenothing to worry about
* Micro focus : Citigroup raises price target to 530p from 365p *
Wow they are that good they coincidentally manage derive a figure very close to the offer, through their own calculations, at the same time an offer comes in ;)
Restores my faith in brokers ....
Paypoint
>Does anyone have idea of other takeover targets that might happen … given strong dollar
Look at PAYP
Shed do the math
This offer is a low multiple of 6 times EBITADA for equity. It will increase their revenue for North America & EMEA by half, double that in Japan & Asia
It will increase their debt to adj. EBITDA to 3.8 but they can reduce that to 3 in 2/3 years given increase in cash
Opentext are no fools. They have increase their cloud revenue 8 fold in 9 years, This will be there focus
Yes looks like the sellers are drying up...Shares mag has is down at a done deal @ 532..
- UK’s 6th largest tech company agrees $6 billion Canadian takeover
- Shareholders call time on five years of share price declines
- Latest in lengthening list of UK tech exits despite Government pledges
Enterprise software firm Micro Focus (MCRO) has agreed to be taken over by Canadian company Open Text (OTEX:NASDAQ) in a $6 billion cash deal.
Ontario-based company is offering 532p per Micro Focus share, a 99% premium to Thursday’s closing price.
After five years of share price declines, Micro Focus shareholders can be forgiven for snapping Open Text’s hand off. The 2017 merger with HP Enterprise’s software arm was a massive error in judgement and has cost shareholders billions in lost equity value, and the company nearly 50 years of independence.
As the UK’s sixth largest software company, losing Micro Focus is another blow to the UK’s shrinking large cap tech space.
I genuinely expect at least 2 parties will make offers and each comfortably over 600 at that
Doesnt phase me one bit...I think in terms of years not days or months
Wait for new share service and stock split. imho this will more than double from here
Which works for me as I can pop up on the cheap
Please read the RNS
"Irrevocable undertaking
· In addition to the irrevocable undertakings received from Micro Focus Directors described above, OpenText has received an irrevocable undertaking to vote in favour (or procure a vote in favour) of the Scheme at the Court Meeting and the Resolutions to be proposed at the General Meeting from Dodge & Cox in respect of, in aggregate, 54,654,085 Micro Focus Shares (including 31,090,071 Micro Focus Shares represented by Micro Focus ADSs), representing approximately 16.27 per cent. of the issued share capital of Micro Focus as at 24 August 2022, being the last Business Day before the date of this Announcement.
· Therefore, in total, OpenText has received irrevocable undertakings to vote in favour (or procure a vote in favour) of the Scheme at the Court Meeting and the Resolutions to be proposed at the General Meeting in respect of 55,837,463 Micro Focus Shares (including 31,090,071 Micro Focus Shares represented by Micro Focus ADSs), representing approximately 16.62 per cent. of the issued share capital of Micro Focus as at 24 August 2022, being the last Business Day before the date of this Announcement."
ONLY WAY THIS FAILS IS IF SHAREHOLDERS VOTE AGAINST OR HIGHER BID COMES IN
Take a look at MCRO..,.down graded then all of a sudden (From Canada coincidentally) a bid of 5.1Bn comes in @ 532 when SP was 267
Graded it down then offer on..take over UK Plc
Another buying opportunity thx Canna
imho this will double in price in a few years . maybe less
PS imho the next buy out is PAYP
auction over running @ 518
To be honest it still feels cheap @532 for me
Read the sentence
OpenText would be “one of the world’s largest software and cloud businesses, with a tremendous marquee customer base, global scale and comprehensive go-to-market. Micro Focus brings meaningful revenue and operating scale to OpenText, with a combined total market of $170 billion.”
They are paying $6bn these people arent stupid. Unfortunately 236p is a reflection of UK Plc at the minute more than MCRO debt I feel
Canadian software firm to acquire Micro Focus in $6bn deal
The Micro Focus announcement comes a day after Schneider Electric, of France, said it was considering making a full bid for Aveva
The Micro Focus announcement comes a day after Schneider Electric, of France, said it was considering making a full bid for Aveva
CHARLES PLATIAU/REUTERS
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One of Britain’s few remaining London-listed technology groups will fall into foreign ownership after OpenText, the Canadian software company, said last night that it would acquire Micro Focus International in a deal valued at $6 billion, including debt.
OpenText will pay 532p in cash for each Micro Focus share and the deal is expected to be completed in the first quarter of 2023. Shares in the Berkshire-based company closed down ½p, or 0.2 per cent, at 267p yesterday before the announcement was made, valuing it at almost £900 million.
Micro Focus helps customers to maintain and integrate legacy IT technology, a business it has grown by acquiring legacy technology such as mainframe computer software used by banks, retailers and airlines. The FTSE 250 group was founded in 1976 and was floated on the stock market in 2005.
OpenText, one of Canada’s largest software makers, said that it expected to generate cost synergies of $400 million after the deal closes. Its Nasdaq-listed shares fell by $1.77, or 4.7 per cent, to $35.50 in after-hours trading on Wall Street, valuing it at about $10 billion.
The Micro Focus announcement came a day after Schneider Electric, of France, said it was considering making a full bid for Aveva, which produces software for huge engineering projects. The French group already has a 59 per cent stake.
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Avast, the cybersecurity software group, is in the process of leaving London’s premier index after agreeing to a takeover bid by NortonLifeLock, of the United States, for £7.1 billion.
If Aveva does leave the FTSE 100, there will only be two companies in the index classified in the software and computer services category — Sage and Auto Trader.
Mark Barrenechea, chief executive of OpenText, said that after the deal OpenText would be “one of the world’s largest software and cloud businesses, with a tremendous marquee customer base, global scale and comprehensive go-to-market. Micro Focus brings meaningful revenue and operating scale to OpenText, with a combined total market of $170 billion.”