||EPS - Basic
||Market Cap (m)
|Software & Computer Services
|picobird: Found some info:
"When a takeover bid or scheme is announced, things can move quickly. The price offered may increase, or the period for accepting the takeover bid may be extended.
The share price can be a good indicator of whether the market thinks the bid or scheme will succeed. Generally, when the bid or scheme is first announced, the price of shares in the company rises to around the level of the offer price. If the market expects a better offer to emerge, share prices can sometimes be higher than the offer price. On the other hand, if the market thinks the offer is unlikely to succeed, the share price may be less than the offer price".
I think the BOD realise that the institutions will accept a low offer without 'rocking the boat'. On the other hand it could be worth 'kicking up a stink' in order to impress the boss.|
|jadeticl3: I note that 2 companies have had offers of takeover this morning, which the respective BODs have recommended. The offers each had a significant premium to their share price, at 46% in the first case and 49% in the second. These are not my calculations, and I have not investigated in any way, but the top line numbers again emphasise how low the derisory offer made for Anite is.|
|jadeticl3: Perhaps the BOD, who clearly want a sale at any price, circulated all companies rumoured to "have any interest in buying AIE" to ask them to make an offer. Then only Keystone Cops came up with anything at the auction, and, as the reserve price was the existing share price, their offer was accepted!
It is a very low offer, but if you are very keen to sell you accept low offers. If you are not keen to sell you send someone who makes an unsolicited, low offer packing with a flea in his ear.
I was confident of a higher offer, but am beginning to have doubts. Pity this is not getting more publicity.|
|gerdmuller: No, management have failed to convey why they were telling us a few weeks ago that everything in the garden was rosy but now they are happy to accept a bid which is well below the average bid premium being paid by others at the moment.
I have been involved in the PE sector of M&A for a long time now and all the signals are showing that a lot of sellers are demanding high prices, as of course they have a right to do.
So if this management is doing its job properly it should know that this environment exits and make sure they hold out for the best possible deal for the shareholders rather than what is good for them.
They tell us this is a high offer and then just pick some period in time when the share price was well below the current offer price. But they totally ignore the fact that the price was higher than the offer price only two years ago. This always seems very condescending to me, they all do it in these offer documents but perhaps they should give shareholders more credit and not try to treat them like idiots.|
|irenekent: As I understand it the options bestow the right to buy a specific number of shares at a specific price by a specific date. After that date the right expires. Sometimes there is a start date in the future as well as an expiry date. The value at which the options vest is generally higher than the price prevailing at the time of grant but as these may have to be held for a number of years before becoming exercisable, generally there is profit to be made if the share price has risen above the exercise price. The company can either buy back shares as treasury shares (with company money) or issue new shares which of course is dilutive to existing shareholders which includes those exercising the options if they are already shareholders. There is usually a clause that says that in the event of a takeover the options will exercise immediately.
Taking pico's info on the options held by Messres. Humphrey and Amos we arrive at £15.25m worth of shares (12.1m shares) added to the total number of shares in issue and I believe there are other options waiting to cashed in. Are they going to buy these shares in using cash held, or just create them. Either way I guess we lose. How many shares are currently held in treasury I wonder - if any?
The main question is what happens to the cash held on the balance sheet. We need an answer.|
|dk37: From todays Times : Martin Waller
Published at 12:01AM, June 18 2015
Anite Group has become the latest British technology company to succumb to an offer from overseas, with the announcement of an agreed £388 million cash bid from a larger American rival.
Keysite Technologies is offering 126p per Anite share through its Dutch subsidiary, in what observers say is a bid driven by “tax inversion”, where American companies buy with cash held outside the country, so saving on tax.
Anite makes equipment that is used for testing new telecoms networks and systems and is heavily involved in the roll-out of the 4G network around the world. It has disappointed the market in the past because the timing of sales and profits have tended to be unpredictable.
The board of Anite that the terms on offer were “fair and reasonable”. In all shareholders speaking for 15 per cent of the company have agreed the terms.
Keysite, based in Santa Rosa, California, is mainly involved in testing electronic products and, according to Ron Nersesian, its chief executive, the deal will expand its portfolio into software design and validation. The deal, funded from existing cash resources, is expected to complete in the autumn.
Anite shares rose 24½p to 127½p. The offer represents a 22.3 per cent premium to the share price at the close on Tuesday. However, some analysts wondered if a rival bid could emerge.|
|picobird: mbmiah - hello
The IC had a 2 page analysis by one of their top guys a couple of weeks ago. He mentioned some big names including Rhode & Schwarz as interested parties. They are a German test & measurement company.
Also the Motley Fool did a story which included SPT as one of a likely threesome to double in price. Hence that would pull in interested parties.
Other than that the AIE price is looking very bullish with plenty of bulls around.
Looks like the long term shareholders need the BOD to filter out the 'rubbish' predators. Hopefully AIE can continue as an independent company but we have to question whether this bull run is set to continue in the market in general. Have we had seven years on the trot in the past, probably not.
A good run for AIE up to the AGM is necessary & in the weeks following re their share price
R & S is a Family run business which is a bit odd nowadays, but it seems to be 100% German.p
Gerd - hello
I know what you mean, I do not put links on myself but there is a way to stop ADVFN taking you to other sites. Press the green spot & login & then you should be able read the thread without any hassle. Do not under any circumstances press the red spot or you will be ejected 50 feet into the air - LOL.
ADVFN provide really good accurate info in their free section should you need to transfer company figures & ratios to a spreadsheet. Needed for fundamental analysis but not all punters trade on FA, only TA.|
|rathlindri: I note that SPT share price is holding today around 95p. It also started the year at 100p approx. Not sure why AIE share price is down approx 10% more this year....anyone?|
|werty5: Lets hope that the support at this level is enough to stop the decline in the AIE share price or in other words C'mon bounce back you B'stard.|
|rathlindri: maybe a bid would push the AIE share price up...|
Anite share price data is direct from the London Stock Exchange