Coretx Hldgs Share Discussion Threads

[el-tel] 26/2/2006 11:18

Apax are also mentioned as considering a counter bid in the Times, don't sell your shares yet !

[diogenesj] 26/2/2006 10:51

Yes, there's a story in the Mail on Sunday. "Toyland is Gripped by Takeover Fever", page 3 of the financial section.

It says that that though the 425p a share offer is backed by 40% of investors, many could switch should a rival offer of 460p a share or more be tabled. US licensing firm Classic Media (Lassie, Mr Magoo) is considering an offer. And the private equity team at Apax (which owns Bob the Builder), and Entertainment Rights (Postman Pat) are both "also watching closely".

These stories in the Mail on Sunday, though unattributed, usually turn out to have some basis in fact. So don't give up yet, chaps: there may be more to come.

[laugher] 25/2/2006 14:14

Likely to be some press this weekend analysing the offer and suggesting if its a done deal or whether another bid of any kind is likely. Anyone seen anything yet?

[diogenesj] 25/2/2006 13:22

The only possible explanation (apart from ignorance) is that someone thinks a rival offer is a possibility.

[maconscreen] 25/2/2006 12:50

same question as before.why are large chunks being
bought above the offer price,mainly t trades?

[ditchbert] 24/2/2006 16:49

I have now sold after holding for over 5 years. I won't be back.

[phillis] 24/2/2006 15:23

Bye Bye Noddy!
See you in a couple of years time when the business is refloated and Alli has trousered his proceeds

[jaypea] 24/2/2006 13:47

Agreed, reporting been distorted by MM offer price widening spread. Mine sold too at same price. Off to pastures new! Good luck all.

[sunsetwarrior] 24/2/2006 13:44

Can anyone shed any light on why we've broken through the buyout price?
Could there be another bidder in the wings?

[phillis] 24/2/2006 13:00

Looks like 3i mopping up . My sale above the midpoint is shown as a buy.
Suspect all the bargains at 424.58 are actually sales

[jaypea] 24/2/2006 11:23

Yup, I agree.
Interesting that the Bid is now running at 424.58, I wonder if someone else is running a slide-rule over it? Or is it Planet rushing to get to the 'unconditional' %figure?

[rogerl] 24/2/2006 10:53

I do not know whether the price is fair or not but I do know that I am personally happy to be offered a price that makes me a good profit and which is well above that which the market was prepared to value the comapny before the buy out.

[rebess] 24/2/2006 10:47

As I posted earlier,I believe the share price was manipulated well ahead of the announcement, hence the unexplainable drops in the price over the preceding months.

[el-tel] 24/2/2006 10:13

I have been stitched up on a number of management buy outs and on every case the assets were not clearly valued and this is yet another one where this appears to be happening. I only hope someone runs the slide rule over Chorion and comes up with a half decent offer. Previous posts have already identified a rather vague and if not understated valuation . Basically it stinks but no doubt all the ' boys ' will have their snouts in the trough

ps a fairer way of valuing companys in this situation is to have a valuation produced on behalf of the shareholders which is totally independent and allowed full access to the accounts

[diogenesj] 24/2/2006 10:13

Yes, I think that's the plan, Max.

[maxibrit2] 24/2/2006 10:11

Planet Acquisitions ? - Wasn't Lord Alli involved with a previous company named Planet with Bob Geldof ?

It stinks - the private shareholders get stiffed again by a corrupt management team.

Watch out for a refloat at twice the value.


M

[Abuse team] 24/2/2006 09:41

Post removed by ADVFN

[rebess] 24/2/2006 09:40

A management buyout presented to the small shareholders as a fait accompli at a price determined by them. - Nice one!

[jaypea] 24/2/2006 09:03

thanks Kibtf, thats helpful information.

[kibtf] 24/2/2006 08:50

Most of the institutions accepted on the basis that they could withdraw their agreement to sell if a new offer of 4.60 or above came in, so a bid is still a possibility.

[jaypea] 24/2/2006 08:39

does make you wonder....but RNS declared total of 48.5% shares committed to the deal & you can bet most shares sold since have been bought by or on behalf of Planet. They only needed half yesterdays sells to get to plus50%. Mind you, think its the 75% level before they deal goes unconditional...technically there could be another bid. Just don't think its likely.

[maconscreen] 24/2/2006 08:09

if this is a done deal why are people buying?
you will make sweet fa at this price
is something else happening?
i noticed a t trade late yesterday above the
offer price

[rallyman2] 24/2/2006 07:31

they got it cheap i expected 460p + dividend and then a buyout at 500p+ but then you cant beat the system ... still a good result on original investment

[rolos] 23/2/2006 21:47

Not sure how they evaluate the worth of ownership of rights, but...
Current share price puts market capitalisation of Chorion at around 73 million

The global retail value of Noddy they put at 45 million, but don't mention (in a brief glimse of their report) the value of:
Marple
Poirot
Marlowe
The Mister Men
Famous Five
The Very Hungry Caterpiler (sells 1 book a minute world wide - Chorion aquired television & marketing rights)

Does it all add up to only 73 million?

Or have I missed something about how a company is valued ?