Lavendon Share Discussion Threads

[qs99] 09/12/2016 10:59

here's hoping! And am up EVERY morning at 6am and 7am reading is a daily habit of RNS thread!!

cheers

[dr_smith] 09/12/2016 10:56

You too QS99 - and be up for 7.00 a.m. rns Monday..maybe..

[qs99] 09/12/2016 10:05

hi Dr Smith...yes apologies, should have been more precise...I meant Loxam...I agree, why wait, to me you should be in with a counter-bid before people have made their responses, so today or Mon/Tues latest IMO....interesting times, market seems convinced a counter-bid is on the way as no material downward movement has occurred...DYOR et al...

have a good weekend

[dr_smith] 09/12/2016 10:01

QS99: Broker has options for accept or "No action", no mechanism for me to set a higher price / counter bid.. if that is what you meant?
..penny dropped.. you mean if I were Loxam..
Yes, it is certainly a key date and trigger point.
My guess is, yes, definitely before, provided have the finances in place in time to follow through. Why wait, they would end up buying from intermediaries rather than original holders, so likely cost more. IMO :-)
I have no direct experience in takeovers etc, so lacking the sixth sense for the norm.

[qs99] 09/12/2016 09:30

so if you were going to counter bid, would you wait to see what acceptances TVH gets, or would you not put your bid in before that closing date so investors had a different option? Thoughts?

[dr_smith] 08/12/2016 19:47

Just rec'd email from my broker:
Nothing new I can spot, so don't know why only rec'd today:
"You are invited to make your election below, no later than the deadline date of 16 December 2016.

Please note that we will elect to accept the offer on your behalf in the event that it becomes compulsory."

But note source offer says:
"no later than 1.00 p.m. on 21 December 2016."

I plan to wait and see a bit longer. IMO DYOR :-)

[qs99] 08/12/2016 15:40

well IMO it suggests it hasn't bought any yet or options to buy any....as of yesterday....DYOR is that everyone else's reading? Not sure it means anything....but if this moves above £2.30 IMO that will be 10% over the current cash offer on the table and IMO would suggest people are confident of a higher offer...DYOR lets see

[beangrinder] 08/12/2016 15:33

Are we going to get an offer soon? What is the Loxam RNS indicative of?

[qs99] 08/12/2016 08:14

edging up again first thing....interesting times..

[abcurtis] 07/12/2016 17:00

And I guess it's a way for boa to hedge the risk, and probably I should not read anything into it

[exbroker] 07/12/2016 16:30

abcurtis
The CFD is provided by the BofA for Sand Grove, its called a give up trade.
I sold 25% of my holding at 223, bought at 192 for a take out at 205 so happy!!

[contrarian joe] 07/12/2016 16:15

Miton sells 1m shares,said in previous posts that the 205p offer looked cheap,feel 224p is a reasonable value so sold. good luck to all holders

[abcurtis] 07/12/2016 13:38

Sand grove increase is 1075000 long cfd's which look to correspond with Bank of America purchase of 1075000 net shares and swap/short of 1075000. So I think the 2 are related, now just need to determine what it means

[qs99] 07/12/2016 13:25

seems to be moving out of current upper range again....fingers Xd that bodes well

[qs99] 07/12/2016 12:27

heads up....

[sell it high] 07/12/2016 11:59

Cogefin could just be an opening position but I doubt it - they hold 3m shares. Sand Grove added nearly 1.1m and now hold just over 6.3m shares.

[muffster] 07/12/2016 11:35

Are they buying shares?

[sell it high] 07/12/2016 11:33

Interesting Form 8's from Cogefin and Sand Grove. I'm guessing they know more than me! Still holding.

[dr_smith] 06/12/2016 12:48

In my very limited experience they turn round quickly so staff/market aren't in vacuum awaiting decision. For due diligence I have seen caveats in agreements for unknowns.. so after the fact.
Ta for thoughts abcurtis..looks like we are each in wait mode. I am surprised there is no background reportage other than rns.

[abcurtis] 06/12/2016 11:39

I imagine Loxam is doing due diligence with the LVD board. I guess it includes accounts and visits to touch and feel. Not going to do that overnight I guess. Then formulate a value and get m&g to agree and the board to recommend. Sounds like weeks of work to me, don't think we will get an announcement too quickly.

[dr_smith] 06/12/2016 09:53

My expectation of an rns by now is wrong.
I can't even read English.
Form 8 today, took me a while to grasp but I see Libra is a subsiduary of TVH party to the offer, so presumably it is an internal accounts thing with no real meaning to us.
In absence of news, I guess it is a Mexican standoff and each party will hoover up shares for the next few months. I don't know the legalities as to whether either potential bidders have a dead line to put up or shut up.
All IMO.

[qs99] 05/12/2016 13:32

great, so both have room IMO to up their game and their offer if they want it that badly!

[aishah] 05/12/2016 13:30

SCSW says:

"M&G, which holds 19%, has little interest in the present offer which values it on a forward EV/EBITDA of 4.7x and compares with a 4.6x forward multiple over the last three years."

"The undervaluation has persisted for so long but nice to see it all come together. Await developments."

[qs99] 05/12/2016 12:06

ok, moved above £2.20 ....decent blue and then me thinks we won't be too far off an RNS,....let's see.DYOR