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WIN Plc Share Discussion Threads
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|Pah, missed last night's RNS - ECI withdrew. So 150p it is; 9p better than it might have been, but lower than if the directors had done their job properly (allegedly).|
|They've got another irrevocable taking them over the 50%; however, this latest only counts if there's no competing offer at least 10% higher.
Still think the WNN management should say something re allowing the others to conduct DD - otherwise, little or no chance of 165p+.|
|Gone quiet again; how they can avoid putting the co to competitive auction - or at least allowing the second bidders to do DD - I don't know.
IMI must be dangerously close to 50%, I've not been able to renege on previous acceptance (even though I'll get whatever the higher offer is). Is a definite drawback with nominee a/cs - deadline to respond is well before deadline in market.|
|agreed gooner - wonder how the rest of the employees at WNN will fair ?! are they all secured too ? have to say the upped offer still looks a snip to IMI. maybe it aint over yet. HAd thought we would hear more from oxygen 8 ?|
|No longer in this but have to say the attitude of the directors IMHO has been terrible. They done their deal which meant they kept their jobs and had no intention of trying to secure best value for shareholders.
Sell out of the worst sort.
|Well spotted, missed that - though they're only up to 9.55%, that's still not enough to block.
Ball back in ECI/MIG's court, 150p now the minimum we'll get.|
|Ahh looks like a large shareholder played hard ball and in order for IMI to get their shares and to stop bid falling apart IMI have been forced to up their offer to match the new one.
|Thats an interesting looking trade|
|Aye Barclays say I can't withdraw my acceptance either. On the plus side - seems IMI nowhere near 50% yet. On the negative side - directors seem to have no desire to go for the higher offer.|
|As in nominee they were always going to give me the 150p|
|tried to get mine put back in my selftrade ac yesterday-they liaised with Equiniti and upshot was they couldn't do it|
|Good point; would go with the final bid but don't want to contribute to the low 50% acceptance level. Attempting (without success so far) to contact Barclays re mine.|
|Thanks eagle eye - very useful info.|
|If you hold WNN shares via Selftrade, be aware that if you haven't informed them otherwise, they will accept the IMI bid at 141p for you on Wednesday 21st July. I spoke to Selftrade on Friday and requested that the shares held in escrow be returned to my account. UNLESS YOU TAKE ACTION, YOU ARE SETTLING FOR THE 141P AND CONTRIBUTING TOWARDS THE 50% IMI NEED FOR CONTROL. Maybe other brokers are in the same position.
|Great entertainment for my modest holding here. Wish I had bought more instead of racier holdings. Great to see a mini bidding war developing. Happy to sit back and await developments.|
|no such luck :(
Though happy with the home I found for my money so no great disaster.
Have to question the management and advisors selling out effectively at 141p. Where they influenced by staying in a job as opposed to maximising shareholder value.
Godd luck to all those still in.
|Looks like its still in play.....|
|Whey-hey; hope you stayed in @Goonertone. Accepted the 141p here, but it'll go with management recommendation so hopefully the new 150p bid, or an even higher counter.|
|If you've a decent number, is worth a call to the market to get nearer 141p - IMI are clearly willing buyers there. Don't take the 3.5p discount.|
|Doesn't look like much in the offing here other than whats on the table only decision appears to be take the discounted price now or just wait for ?? weeks for the extra 3p per share.
May give it to the end of the week but other things to do with the money if this is it.
|Yup, just reported: IMI bought the 75k too, they're now up to 3.6%.
Still not enough to block any counter-offer, though no sign of one as yet. IMI clearly very committed to their 141p.|
|Ah ha, that 60k I reported on yesterday was indeed IMImobile adding to their stake.
Bet you any money the 75k today is the same.|
|Today's weird share news.
a)75000 at full 141.
b)New MM appeared KBC dealing in 10k lots rather than the usual 1k lots
c)Offer is now up to 136 online
|Curious 60k trade at 141; not enough to block deal or anything, but can buy at 138 in mkt & only get about 134 selling. No MM moves on it either, but not flagged as a trade left over from Fri.
IMImobile buying more is my guess, to further block any chance of counter-bidder - but strange that MMs not after more stock.|
|Not sure if it's 28.56%+2.37%, or 29.26%+2.37%, per the above. So say 31.5% approx, need another 18.5%.
Market doesn't seem to hold out much hope of a counter-bid so far. Not sure what the timescale is for the bid.|