RE: who's accepting the offer25 Jun 2015 19:18
Hello Chipper, I've sold my shares as I don't think there is anything to be gained by hanging around here. It's a fairly straightforward cash offer and at a fairly good premium to the price before the announcement of the to was made. The company doing the gobbling up have got some shares of the Directors and some of the institutional investors and it is unlikely there would be any rival bid. The share price of Northern Food, for example, hovered at or around the proposed takeover price for a long time. It's a long time ago now but as I recall there were two interested parties and one pulled out. There's no messy offer of a mix of cash and shares. In my limited experience of that type of scenario, if the takeover company is listed, its shares start to get shorted heavily. The bg proposal looked good but what price Shell now so it is not looking as good a deal as it once did.
You are on reasonably safe ground in that it is very unlikely this deal will not proceed. Spare a thought for the poor holders of bpty who are told there is more than one suitor but the thing is dragging on and very little meaningful info is forthcoming from the board. The price there has actually dropped back considerably since the takeover announcement and the share can be traded as it is bobbing around enough for that.
I'll share with you a little story about the takeover of encore oil. There was one bb leader who was hanging on till the bitter end to see if a rival bid came in and nothing was forthcoming. He then decided to sell out and I had to coax him onto the relevant bb to say he had changed his mind. No problem about the change of heart but if you have been on a bb non stop then it might be nice to let the readers know you have changed your mind. The reasons I actually did hang on until the bitter end there was to accept the option of shares rather than cash and just in case a rival bid did emerge. So often best just to take a lot of what you read on the bbs with a pinch of salt as you have no idea whether people are following their own advice. This one though seems an open and shut case to me. Bonz 1957 though has bags more past and recent experience than me with the likes of tsb. Good luck