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Unless ofcourse Advent get over 50% in the bag. Any alternative offer may well be hostile. so they have to be properly resourced for an alternative cash offer. Sterling has been quite strong and with a trade war now declared, the Chinese will be cautious but Koreans and possibly Indians will be running a ruler over the figures

Its only been a week and the purchase prospectus wont be issued till 17/04. Advent are mopping up but as other Hedges are also buying (possibly for an alternative buyer), a credible offer may not be happening till end March or early April

Moniman, If I am not mistaken, he also has an option on 675,000 shares at nil payment which was subject to the shares reaching a predetermined price which has been reached. No wonder he is keen the Company gets taken over. Always remember UK PLC is run first and foremost to benefit management, then Bankers. on this one luckily there is no Pension deficit but I wonder what happened when Laird had Shipyards and their employees pensions.

As an example, I bought into Globo, a purported technology company on AIL being audited by BDO. There were negative reports and BDO resigned so I wanted to offload but they immediately appointed Grant Thornton who gave a clean report so I hung on. A US hedge fund then put out a report that Globo was a fraudulent company with no technology. The CEO Theo Paphitis met with the Board and told them he had offloaded his shares. Presumably, others had too and Receivers were appointed in October 2016. The Receiver said there were no Assets and in the meantime Management disappeared. I dont think they have been found yet So far FCA are still drafting the Report Financial press were encouraging people to invest and the Nomads too (All have now taken a low profile)

I meant Advent are a 35 billion � company

Moniman, FCA and FRC have no teeth and by the timethey get reports out it takes 2 to 3 years by which time events have moved on. in this case Advent like some of us are making a buck but on a larger scale. They are a �35 million hedge fund and in buying have already indicated that they will sell the Connected Vehicle division. You guessed it recoup all their investment and the rest Performance materials and Wireless technology is pure profit. It isnt Advent's fault if management sell out and this is normal Capitalism. They have made an open offer which management have accepted and recommended to Shareholders. A couple of Hedge funds have indicated acceptance, about 27% and Goldman Sachs are now mopping up any shares from the open market. They probably have 35% in the bag but others are hanging on and some hedges are buying to make a profit at a higher takeout. My belief is somebody else will enter the ray at 225p and Advent will move towards 240/250p and then it is anybodys guess

Yes I think �2.50 is about right but if they have done well in Korea and a bidding war takes place then perhaps we can go back to the level of 15months back. 350p to 400p Ijays option 3 cant happen

Bank of Motreal have sold over 8 million shares since the announcement of takeover. I assume some have been bought by Advent agents but a number of Hedge funds have taken a position. The massive position taken just prior to the announcement is a mystry. Surely, Advent or its agents are precluded from buying prior to the announcement unless since it is on the open market anybody can buy

Unfortunately, in most UK PLC's management almost exclusively run them for their own benefit and there are no repurcussions if anything goes wrong. Only Pensioners and small shareholders like us lose out. The long term shareholders have all suffered but the look at the dire state of some of the Companies in UK PLC. A lot of them have massive pension black hole and the Regulators are weak and dont have teeth.

AGM 27/04 and I believe prospectus on sale will be issued on 17/04

There is an RNS on Quinlans shares. I dont quite understand what he is upto?

I meant like me you are in until the finishing line in May

I assume you mean 4th Quarter update should have been given in January. By not doing so, small shareholders would have been spooked and probably sold out. Frankly, the governance by FCA and FRC is very poor and Londin Stock Exchange is non existent On a positive note, Goldman Sachs are buying on the open market for Advent and other hedge funds too since the takeover was announced which would suggest a counter offer will come through which probably would be hostile. Advent will make a packet and probably made an offer with the intention to flush out a real buyer. The Management Quinlan and Dangerfield were probably aware of this Moniman I hope like me you ate in until the finishing line in May

Advent takeover at 14 X earnings is not on. 20 X earnings is 285p and that is not taking into account future growth in a Company which has hardly any debts. Nevertheless, Laird can remain independent in this fast growing market with the big boys. They just dont have the resource. Laird, the previous ship builder has come a long way but are there any pension deficits?

Advent have also indicated they were proposing to sell off the connected vehicle division. They are not stupid to retain the other two divisions. They are onto a winner here but are deluded and a counter offer will come through It will be done and dusted by end May. The mid April takeover documents from the Company will be binned!!

I am not bailing out. After the takeover announcement, Hedge funds are piling in and building a stake so there is bound to be a counter offer. The connected vehicle division alone is worth a packet and contrary to what I thought even the wireless division was up 4% so no negative effect here. The management were silly to make this an accepted offer. They should have announced an approach only at 200p which has been rejected. On around 170p price at Q3, the shares are commanding 17% premium only and yet Q4 shows more progress except the $ headwind. I am sitting on this as no doubt another bidder or bidders will emerge including the chinese and Koreans. The minimum takeout is 250p but with bidding war who knows. It can well go 250p +. After all, they were 375 to 400 p only 15 months back The hedge funds and there are several who last friday were buying. Some may be buying for dvent but others will hold on to sell to the highest bidder. I wonder how they did at the exhibition in Korea Advent had assurance from 27% and may have expanded their hold to 35% so guys hold this one till the bitter end. My average price is 120

no complaining. A number of investores especially the long term ones have lost a packet and you have made money so be grateful and give some to charity like Great Ormond Street or the Air Ambulance. The balance into high dividend paying shares like HSBC and Vodafone especially if your money is in ISA (only my opinion). Still nursing my excesses with Globo but recovered some at Laird

Patience Wily, it is in play and buyout documents are not going out until mid April. in the meantime, J O Hambro and others are beginning to take positions. It is not over until it is

82% really? The report suggests they have approval from Institutional shareholders and management amounting to 27% not 82%. In this space, Laird is way too small to survive independently. A larger company with liquidity needs to resource their future development. If Advent succeed, �1 billion is petty cash for them and in a couple of years they will sell on having beefed up the profits. Remember this company was in trouble and about to break its lending covenants and had to get a Rights issue to shore up the finances It is stable but the CEO and CFO have highlighted choppy waters ahead so frankly the price at this stage is okay unless they are trumped by a Korean, Chinese or US buyer. Even at 200p, the Company has lost around 40% value over 12/18 months which proves the point I am making

Moniman, dont be greedy. you are �300k up and perhaps a counter offer may emerge at 250p so all good news here now + as it is in your pension, no tax to pay There are lots of losers sitting at above 300p cost and will lose a packet here. This is a small company in this space and needs to have massive liquid resource to invest and cant survive on its own I wonder if the 2 million bought yesterday at 9 am was insider trading? or just a speculative buy? could have been Advent. we will know if that was part of a stake build. I have a much smaller holding of 45,000