The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
"New York private-equity firm New Mountain Capital held exploratory talks with S4 last year about a possible acquisition, according to people familiar with the discussions. New Mountain has a majority stake in digital marketing outfit Tinuiti and owns Bounteous, a consulting company focused on building digital customer experiences for brands. New Mountain remains interested in buying some parts of S4. New Mountain Capital declined to comment."
https://archive.ph/2VNZ1#selection-6009.0-6013.41
Next move may well come from PE.
At the time of the $700m bid S4 Capital management should have released a RNS announcement, the share price would have traded around the bid price 95.5p. We wouldn't have found ourselves down at 37p. Management could have used this to protect the share price. IMO.
Any idea what percentage of shorts? No disclosures under 0.50%
https://shorttracker.co.uk/company/GB00BFZZM640/
Shareholders will also vote on a resolution for S4 Capital to have a B-class share structure which would ensure Sorrell retains total control of the business. Sorrell has been able to get straight back to business because of the unusual nature of the contract he had at WPP, the world’s largest advertising and marketing company. Instead of the standard notice period of 12 months, he or the company was able to terminate the contract “at will” with no non-compete clause.
MediaMonks is one of two or three businesses that Sorrell has been seeking to acquire.
Sorrell resigned from WPP in April following an investigation into allegations of personal misconduct. He denies the allegations. He is to take 75% control of Derriston Capital and will become executive chairman of the company before it is renamed S4 Capital. Sorrell has structured the deal to give himself a five-year window to grow S4 Capital and make his exit, by which point he will be approaching his 79th birthday.
https://www.theguardian.com/media/2018/jul/04/sir-martin-sorrell-to-raise-1bn-war-chest
Interesting article that I found the link from The Guardian (enclosed above) that claims that Sorrell would make is exit after 5 years at S4 Capital at age 79. Sorrell turned 79 last month.
Is the S4 Capital share price about close above the 50 day moving average that currently stands at 40.60p. This would be the first time if indeed we do close above since 12 July 2023 when the share price closed @126.90p.
"So what is the takeover premium right now that shareprice is 1.03?
1.50? valuing the whole business at 15b?
Seems reasonable to me, almost 50% upside on the current price."
It would be whatever the large shareholders would be happy with. Considering that BT's Capital expenditure on fibre alone is £15bln. A bid at that price would most certainly not be acceptable by almost every BT shareholder. IMO.
"What is the point of you banging on about a bid"
I agree, I gave up on a takeover bid 12 months ago. Drahi is skint and DT haven't added to their BT holding in 9 years, DT have little interest in BT. I think that DT wanted to offload to Drahi, but he's skint. Any bid would probably be turned down anyway. I would welcome a bid, but I'm being realistic, a bid isn't coming. So I'm like a lot of other BT shareholders stuck in a company who's share price continues to drift lower. Patience is needed until 2027 at the earliest. IMO.