|Mean Fiddler Gp
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Mean Fiddler Gp Share Discussion Threads
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|Not looked at this thread for years.
Quite sad to see Mean Fiddler go.|
|Post removed by ADVFN|
|You guys! It was the MMs trying to get your stock cheap.
The deal is now done with about 80% acceptances.
Its all over now and Mean Fiddler will no longer be a quoted company in a few weeks.
Good luck all.|
|...i know very strange...unless having done their due diligence Clear Channel are walking away...??|
|Amazing that the shares being at a discount to the bid with other bidders around.|
|any views folks on the dip in SP?
|Also an article in the Irish Tribune names the third party as premotors John Reyonlds and Peter Aiken who had teamed up with music industry figures in Britain and deal maker Niall McFadden. It also says US entertainment group AEG was also in talks with Power.
It says Clear channel and MCD are confident that sunject to due dilligence being completed within the offer period they will proceed with a bid at 60p.
IMHO it seems there were indeed two other bidders breathing down neck of Mean Fiddler and the Clear/MCD consortium were anxious to to lock Power into a deal before the others did!|
|What do you mean???? I see two buys for 100k at 55 and 55.5p. Thats a nice 10% return in 30 days
Bingo when Mr Power sells at 60p then they must make the same offer for all shareholders as MCD and a Company that they are involved in would own 59% of the outstanding shares! Thats a rule under takeover rules.
As for the "British Party", I dont know who they are or if they exist but they were mentioned in the press as bidders also.
However for the next 30 days no one can bid higher then 60p as MCD/CLEAR have an irrevocable on Powers shares. But if MCD/Clear do exercise the irrevocable then we all get 60p.
Sounds like there is another interested party but they haven't a look in for the next 30 days.|
|....well it looks like the share price is going to go no-where. Will Mr Power simply be taken out at 60p and the rest of us will continue to hold as before....!
...a poster mentioned "the British party" - can anyone shed any light on who this might be?
|So we have a 60p offer from Clear channel and MCD!
And Mr Power is selling at 60p so they would then own 59% of MEF
All over now!|
|Well Mr Power was willing to sell at 60p a few months back but I would say if MCD are going to sell out (highly unlikely as they would want it themselves) they would want a lot more then 60p
Then you have the this British Party! Who are they?? Looks like there is a lot of interest in MEF.
IMHO and DYOR|
|I'd say that Clear / Solo have deeper pockets than MCD... once we have confirmation as to who the bidder is we shall still see a tick-up. I'm sure the take out price would have to be at a premium to the share price on the day the offer is formally announced....???|
|Whats the likely take out price, given that the share price has already risen 25% since news broke? Is there any point buying a large chunk now?|
|well guess who was seen at a conference in Norway which the Americans were attending? All seems very Clear to me!
|My money is on the Americans|
|Just a matter of time an IMHO!
Could be a few bidders including the British group and the American Clear Channel but MCD look to have the upper hand with them holding 24%.|
|Any more news on the takeover?..............someone must know by now.....|
|Could get a bidding war!
Todays Irish Times Newspaper
Mean Fiddler denies report of MCD offer
By Barry O'Halloran
Mean Fiddler Music Group boss Mr Vince Power yesterday denied speculation that its Irish-based shareholder, MCD, has approached it with an offer for the company.
London-listed and based Mean Fiddler last week announced that it had received a preliminary approach from an un-named party that could lead to an offer for the company.
The announcement sparked speculation that the Mr Denis Desmond-controlled music promoter MCD, which has 24.3 per cent of the Mean Fiddler, had made the approach.
However, Mr Power yesterday bluntly denied the reports. "There is nothing in it," he told The Irish Times. "It is not MCD." Mr Power said he could not comment beyond that.
MCD is the second-biggest shareholder in the Mean Fiddler after Mr Power's 35 per cent stake. Mr Desmond has made it clear in the past that he is interested in taking over the group, which owns a number of UK music venues, the Reading rock festival and 34 per cent of the Glastonbury music festival.
Last autumn he effectively halted a shake-up of the group that would have seen it take over electronic media partner MIT and led to Mr Power selling his stake for 18 million and stepping down as chief executive.
Mr Desmond objected because the group had not told him it planned to raise 8 million by issuing new shares to financial institutions.
A spokesman said at the time that stock exchange rules did not oblige it to do this.
It subsequently emerged that Mr Desmond planned to continue building his stake in the business, although he had no immediate plans for a takeover.
Sources yesterday did not rule out the possibility of his launching a bid in response to last week's development.
It is understood that a British group with an existing business in leisure and entertainment is behind the latest approach to Mean Fiddler.
One London broker said that the group would be an attractive play for a number of pub chains looking to branch out.
He pointed out that many of these businesses were cash rich and were seeking to diversify ahead of the likely introduction of a smoking ban in the UK over the next few years.|
|blowson............How can you estimate the price of a take out bid|
|Writeup today in one of the Irish papers saying its a Mr Desmond and MCD who are bidding for Mean fiddler!|
|somebody was buying today IMHO! and a 150,000 Broker purchase at 55.3 at the close!
FYI article in the Times
February 15, 2005
Shares rise on Mean Fiddler bid talks
By Nic Hopkins
MEAN FIDDLER was forced yesterday to admit that it was in talks that may lead to an offer for the live music group after its shares rose by almost 13 per cent on takeover speculation.
The company, which has promoted tours for artists such as Justin Timberlake and Britney Spears and is involved in the Glastonbury and Reading music festivals, said that it had received a preliminary bid approach. The company's shares closed up 6p at 53p.
The news fuelled speculation that Vince Power, the chairman who founded Mean Fiddler 20 years ago, may be about to sell his share of the company after a plan that would have seen him cash in a 41 per cent stake collapsed four months ago.
Potential buyers include media companies with live music divisions such as Clear Channel and Anschutz Entertainment Group, which is owned by Philip Anschutz and plans to turn the Millennium Dome into a 20,000-seat stadium.
Mean Fiddler, which owns London music venues such as the Astoria and Jazz Cafe, employs more than 300 people and generates annual turnover of more than £50 million.
The company emerged as a possible takeover target after the collapse last October of a planned £11.8 million share sale and £5.7 million acquisition of Media Internet Telecom, a company owned by Richard Clingen, the former Cable & Wireless Caribbean marketing executive.
Mr Power's intention was to remain as a non-executive director overseeing the festivals business. His exit as chairman was to have marked the company's move into the online supply market, delivering music into homes via the internet.But the proposal collapsed after a rift between key executives.|
|Im still holding cassandra.Showing a nice little profit.Im thinking 65-70p as a take out price.Have gambled a bit on scott tod also, at 38p and is currently at 45p.|
|I agree czar! Last years deal which Mr Power was happy to sell was at 60p so I expect this one to be at least at or above that price. Probably above as they are forecast to be profitable very soon.|