Member Info for Urraca

True, but it's very rare to hear about whales who make money. If you think about it, Buffet is a whale, but you never hear him described as such. To become a celebrity (or notorious) whale does seem to involve losing ridiculous amounts. Cos schadenfreude I guess.

Not so, Tamer. Google Bruno Iksil, aka The London Whale, a JP Morgan Chase trader who managed to lose $6.2 billion back in 2012, when each bitcoin was worth around $13. It dwarves Nick Leeson's paltry $1.3billion losses. Whenever I take a hit on stock trading I like to remember that it could be worse.

Andsoforth sure does like to post about SAA, a stock they purport not to be invested in. And has strangely similar views to DocDeramp (who btw appears to be entirely unfamiliar with the concept of hostile takeovers, even if the hostility is only aimed at a minority shareholder) despite a patently manufactured 'disagreement'. It's more fake than pro wrestling. Are they related? I think we should be told.

Abdx now looking like the best punt going forward of all the old covid stocks. Great news, this is a solid hold, awaiting the significant rerate.

Dear Doc, may I refer you to the RNS of 5 May 2020 advising that Vin Murria had acquired 13.5% of SAA. A quick look at the share price chart will show it absolutely cratered late March 2020, hitting around 35p, before recovering somewhat to 44p by 1 May.

The market is simply tracking the NFC price.

And I'm not 'suggesting' you are deramping. I'm simply observing the fact that you are. And wondering why.

Doc you are not quite right. Vin's 22.3% is not in itself enough to absolutely block a bid. Given that she bought in at around 40p per share, she'd be looking at acquiring a massive chunk of the new entity essentially for free. I think she's trying to squeeze a bit more out - and why not. But I think she's too smart to kill this off. You have been relentlessly negative about this since the start. Why is that?

I agree GeneralLevy. This is the same sort of stupid thinking on energy policy that's got us into this mess.

SeemsLuke, I meant I cannot sell shares acquired as part of the takeover, or which reflected the value of the merged entity.

The 30k trade at 8:33 today was me. And it was a buy.

What IS being played out in front of us Sanchez? Please share your superior insight.

It is a bit naive to be valuing the deal based on the minute to minute gyrations of NFC's share price. The important thing will be an assessment of the value of the combined entity post acquisition, albeit with an enlarged number of shares. The rational for the proposed take over is that the sum will be greater than the parts. I cannot sell NFC shares today as a result of the take over, so the immediate share price is largely irrelevant, unless you are a novice investor.

No nasty shocks, quite the opposite.

The RNS is out. "The Combination represents a value of approximately £0.10 per SDX Share". Sheesh.

Having clicked through and registered, the forecast of a 19% fall in earnings growth is based on a single analysts's pronouncement. It doesn't say who the analyst is, or link through to their analysis. It's a strange metric though. If earning were growing at, say 100% a year, but predicted to slow to only growing 81% a year, that would be a decline in earnings growth of 19%. Earnings growth would still be phenomenal though. Without knowing the underlying assumptions, the figure 19% is meaningless.

No Doc, I think it's your relentless deramping that's dragged the price down.

Just posturing to try and squeeze a bit more out of NFC. They do not actually have enough shares to be sure they can block this, now that their letters of intent have been withdrawn, and irrevocable undertakings revoked. But it would clearly all be much easier if they were onside. How much money would that save? Possibly up to 10p a share - if I were NFC I'd bump it up say another 3p cash per share.

Richjp was there and has summarised what she said over on a d v f n, as Metis said (comment at 9:11 this morning). Well worth checking out.
https://uk.advfn.com/stock-market/london/m-c-saatchi-SAA/share-chat

ADVT own and have irrevocable undertakings over 26.4% of the shares. This is enough to block a court approved takeover, but not a contractual takeover. I imagine the letters of intent they hold are now not worth the paper they're written on, given the handsomely better offer on the table. Blocking the deal will really annoy those who provided the letters of intent, and the irrevocable undertakings, as well as losing ADVT a very nice windfall gain on their shareholding. It would be a very bad business decision. They may though wish to posture a little to see if they can't squeeze a bit more out of NFC.

Some very chunky buys are helping too

I agree Taverham, and am slightly confused why the sp is 10% below the firm offer from Next Fifteen. Not one to look a gift horse in the mouth, I've bought some on that basis.