Member Info for paul30661

There is a lot of value in itv which will either be unlocked by itv within a year, or someone else will do it for them /to them.

In the meantime, even at 80p the yield here is 6.25%.

Yes, the management may burn through more shareholder capital before they're taken out, but it's a good yield to be paid to wait for the (inevitable) merger or bid.

.

April 27 (Reuters) - French entertainment company Banijay is in early-stage talks for a takeover offer for British broadcaster ITV that would merge their respective production businesses, the Financial Times reported on Sunday, citing people familiar with the matter.

Banijay has explored options, including an offer for ITV's studio business, the report said, adding that the discussions are at a preliminary stage, with no guarantee that they will lead to a deal.

Banijay has also considered a full takeover of ITV, which would likely involve securing investment from third-party investors, the report added.

Pogo

You do realise that Friday and Monday are uk Bank Holidays, so the markets will be closed.

Wasn't it a triple option expiry day today?

I think alot of volumes are up as a result

Are you having a wfh day today pogo?

You're keyboard warrior diatribe seems to be on overdrive

:-)

In fairness to JATW, I don't think he was recommending St. James as either an investment or a financial advisor.

Anyone who has ever Googled SJP will be aware of their poor reputation for providing value for money, combined with relatively poor investment returns.

I think his take might have been that, if even SJP can provide seemingly good results for investors on the back of a crap business reputation, then MNG should excel.

Or at least, I hope that is what he was suggesting - I've today markedly increased my MNG position ahead of their results in a few weeks time.

A problem with large divis is that it attracts traders, shorters and rampers.

Phnx would help the share price and themselves if they moved to quarterly dividends.

Yes, there would still be some volatility around xd dates, but the recovery would be swifter, and I suspect more shares would be held as a solid income share by pi's and funds.

Padd1,

To misquote the author G. Michael Hopf:

Hard times create strong leaders,

strong leaders create good times,

good times create weak leaders, and,

weak leaders create hard times.

If the government wishes to encourage investment in shares rather than speculation and auto-trading, they should increase stamp duty to nearer 5% rather than succumb to the pressure to remove it.

Ego,

Is the same with the advfn forums unfortunately.

Ruined by rampers, trolls and lunatics, so many of the genuine posters have left

At first glance it seems a win win.

Either a studio merger will remove costs and competition, or it will flush out another party wishing to gate crash part or all of the deal with a better offer.

If only the muppets on this, and the advfn itv board, were paid per word, they'd all be quids in.

In most shares, there are traders and there are investors.

Each has different reasons and different objectives for their actions.

There is room for all, and if each respects the other, they might actually learn something to improve their own decision making and profits.

Playground name calling and repeating the same tripe again and again and again in the hope that it might make it come true is pretty pointless and just leads to less active participants on the boards and increased use of the filter option.

Pogo - I thought of that Mark Twain quote:

'It is better to keep your mouth closed and let people think you are a fool than to open it and remove all doubt.'

:-)

WombleTom,

At least if people are unemployed and not going out spending, they'll be staying at home watching Tv. :-)

Redacted. I sympathise with your concerns and yes, an annuity at the right starting point in creasing by inflation must be an attractive option for part of your retirement funds.

My other half is a retired GP (with zero investment skills) but receives an index linked amount of money each month come what may. Her financial life is very relaxed.

I, on the other hand, have always worked hard, have built up a tidy investment sum, and left a well paid job 2 years ago to run my own consultancy and physically + mentally take things easier.

I haven't managed to mentally move from an accumulation, save as much as possible mindset, to a fully retired, spend down interest /capital mindset.

It's a struggle for me to think that is possible as I have no guaranteed income. I worry that the capital will halve /run out, and I will have no earning capacity or time left to replace it.

The problem with taking an annuity at 61, particularly an index linked one, is that the rate will, I suspect, be dire.

My current thinking, rightly or wrongly, is that I will:

- largely move out of direct equities (though keep some such as PHNX, MNG, CSN, LGEN, IGG, IMB, BATS and the like in ISA and SIPP due to the yield even if the capital stays relatively static)

- invest a sizeable chunk in moderately yielding investment trusts (eg. Merch, Cty, etc)

- keep a cash element emergency pot, in a money market fund such as CSH2

- and another chunk in low coupon, CGT free, Gilts.

( I also hold some VCT's which provide tax free income)

I appreciate this is still very much UK centric (too frightened to invest in US at present) but hopefully a balance between safety and income.

The other factor is timing. Like many I am waiting for, what I consider, the optimum time.

There's a saying that we are all looking to leave the market as close as possible to midnight when the music stops, but inevitably the vast majority will get it wrong. (that is greed over sanity, and just writing this down, makes me slightly more focussed on my New Years resolution to actually do it)

Anyway, those are my current thoughts (those of others welcome) and apologies that, apart from a brief reference to LGEN stock and annuities, it is mainly off topic.

Based on the present prices of Av (466.70p) the bid is worth 268.27p per DLG share, but this includes the 'up to 5p' dividend element.

At the present DLG price of 243p, there is a gap of 10.5 %.

As you say (assuming an offer is confirmed) it seems relatively easy money for perhaps a 3-4 month wait, or take part of that if you want to exit earlier.

Probably waiting in case another bidder/ white knight is sited.

I think the AV bid will be formalised either Wed or Thurs this week.

In fairness to Denby, and for the record, he/she did post yesterday morning that:

Aviva should walk away dgl price is far to high will be back @170p soon:-)

but came back in the afternoon with:

Looks like i was wrong did not think Aviva would bother with DLG :-(

Gorillaz

The Ageas share price is only as high as it is because they didn't pursue a bid for DLG.

Their own share price tanked when they announced their interest and bounced when they withdrew.

If they were brave enough to reappear here and get involved in a bidding war with Av. or anyone else, their SP would tank again. In addition, a factor that put people of last time was their proposal involving an element of overseas equity, whereas Av. is obviously UK.

Potential other parties who might gate crash could be Allianz or Buffett, but I suspect they would prefer to wait to see how Av. get on with restructuring /integrating DLG and then just buy Av. instead.

Av. goes ex. final dividend around the 10th April and was 22p this year

Just a thought, but if this deal completes in the first quarter of 2025 rather than first half, do people think we might get a DLG dividend and an Av. one ?

Alternatively, if the deal doesn't complete until after April, perhaps sell out of DLG via the market forgoing the 'up to 5p' dividend, and purchase Av. for the (possibly still) 22p final ?