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Will see how far it has popped on open but under 2.5p I will have a punt.
Bit early to mean much but book showing 1.8 vs. 2.0.
We've already had WG, we've now got THG, APH and WOSG in play too.
Today we can add VOD and FEVR to the possible buyout list.
The UK market is cheap and Apollo isn't the only private equity fund that knows it. I'm 100% certain a bid will come.
He mentioned this at the investor evening last week.
Those of us who were there suggested that giving dates for things they don't control isn't the best idea, so maybe they are being overly cautious with dates now. The key takeaway was that they don't need the extra headroom any time soon so were holding out for the best rate, which they have now secured and are finalising the due diligence.
From Betaville again:
https://www.sharecast.com/news/news-and-announcements/watches-of-switzerland-surges-on-betaville-takeover-speculation--13133036.html
Very quiet here considering there was a potential bid at 20% above the current price. News article makes it sound like they may still be talking to other suitors as well.
https://news.sky.com/story/apax-steps-away-from-400m-takeover-of-london-listed-alliance-pharma-12861074
Lottie, only discrepancy from my notes is that UKEF underwrites 80% of it. I've just checked this on the Export Finance website which also says 'up to' 80%. It's in the government's best interest that HARL is solvent so you would expect the full 80% underwriting.
Explains why the rate should be much better than the Riverstone facility.
Thanks for sharing.
They got a bit of a grilling about timelines slipping on the contracts last year and the financing this year.
To be fair to them, on the contracts a lot of it was out of their control. On the finance they just seemed very relaxed, it's not needed imminently and they were just playing for the best rate possible rather than signing the first deal that came along.
Confirmation of no equity raise was nice as well. There is an interview coming out over the next week or two where this should be reiterated again.