In the Kraft / Cadbury takeover it was found in the report that followed..................
'In the wider public policy context, we express our concern that the takeover of Cadbury by Kraft was ultimately decided by institutional investors motivated by short-term profits rather than those investors who had the companyÃ¢â¬â¢s long-term interests at heart'.
So again, the institutions like the BOD always put their own interests before those of the shareholder majority which in effect makes a nonsense of putting shareholders interests first & foremost.
I am no longer a holder but do feel that this is totally outrageous!
Given the latest market update the sp would probably be around 120p so they are effectively recommending a takeover for virtually no premium.
I can only assume that the big shareholders will tell them to sod off, if they don't I would really want to know why.
Well done brand69, you have been around on this I thread for quite a while so good luck for the future.
I must confess that I would like to see this Keysight takeover scuppered. Been reading posts on other forums, those posters are rather pained off by the events as well. People expecting an absolute minimum bid of 140p & another saying that he always thought that Anite was solely run for the benefit of the directors.
The timing of that IC article is a little suspicious. IC had steered well clear of Anite for a considerable time prior to that rather too well informed 2 page report.
Interestingly enough 45% of CEO's have been to private schools although it used to be much higher.
Tomorrow week everyone will know that the offer was too low. Will Keysight then increase their offer - only if pigs can fly !!!
They do carry a bit of weight. They have in the past asked for the Long Term Inventive Plans to be amended - made more difficult or 'raised the bar'.
As for this takeover they will probably rubber stamp it. It really is up to other companies now to take a bit of initiative. Next week there will be a great reaction to the results & suddenly people will wake up - comparing forward P/E ratios with the offer by Keysight. It will get around that the company is going cheap & probably before the end of that week 'Hey Presto' - counter bid.
So at the end of the day (glass half full attitude), the timing could work out as perfection !
I retired some 17 years ago during a merger/takeover. My memory would need jogging to recall exactly what the terms were, but I had shed loads of share options that in normal circumstances would have needed years to be exercisable, but in the event of a takeover became exercisable immediately.
Maybe something of this kind has influenced these directors. Not a good motive for accepting a low offer.
Apologies if someone has already stated this.
Started to read the RNS doc about the takeover and noticed the statement regarding a "Court Meeting" Looked it up on the net and found that the agreement has to go to a Court meeting to be agreed as it is a Scheme of Arrangement.
Whats that? So looked up takeovers etc and found this link that might be helpful regarding the rules and the time frames involved regarding a Take over and a Scheme of Arrangement.
Ps As a small investor its times like these that the mushroom effect comes over me.
Hmmm interesting day. Takeover offer of 114p disguised as 126p. We were getting close to 110p anyway.
Backed by the BOD - but why ???
If this offer had not come along, we would have been on 125p two weeks after the AGM based on fundamentals alone. Add onto that a modest 25% premium plus 12p cash ( on B/S ) & we have what is a 170p offer. No cons, no smoke & mirrors - NOT a silly 126p but an honest brass tacks 170p.
So the company is being sold at about a 25% discount.
This whole scenario stinks.
Just been emailed by the TA course people that nobody becomes a successful trader spending $24 on a course. They seem to have forgotten the course was reduced from $1500 - LOL
Going back to Fundamental Analysis (like Warren B) & just using TA candlesticks like werty to help with entry & exit points. That 2% risk thingy is going to take a fair bit of study, but hey - we have the Internet for things like that. :-))
Do we trust the BoD? Personally, I feel they have done a good if under-publicised job. Unless there is some other reason to doubt their recommendation, such as them moving to take up positions with the takeover company, I will respect their advice.
However, I do have mixed feelings over this. Let us hope there are other bidders waiting to be flushed out. It would appear that Anite is now a successful company on the way up and the offer price does seem cheap.
Both Anite & Spirent tipped as possible takeover targets in Chronic Investigator this week
That was a close shave, got back in yesterday at 84p. Time now to wait for the annual results.
See Liberum have sent the price up today - IN THE KNOW: Buy Anite On Better Market, Takeover Potential.
Those particular brokers do know their stuff. They anticipate a weak Q1 for SPT due to contract time delays !
Back into research mode now.
15/04/2015. Anite enables Fleet Managers to remotely improve drive test reliability and accuracy