Telent Share Discussion Threads

[wstirrup] 18/1/2010 14:51

So what happened to TLNT?

did the deal go ahead?

[weatherman] 31/10/2007 17:17

Hasn't the stock market agreed it does?

[prallum] 31/10/2007 16:52

The warrants are long gone.

[powwow] 30/10/2007 10:27

I understand the pensions will be protected. Well they should be protected, its not their money to touch.

[powwow] 30/10/2007 10:26

If this deal is going through, what will happen to the warrants we received when it became telenet from marconi?

[weatherman] 25/10/2007 09:19

What I find objectionable is that my acceptance of the offer is binding on me, but not binding on PC if they decide to withdraw the bid.

So I cannot sell in the market now at 553p, but if PC decide to pull the deal and the price falls to 500p then I can sell. They should now be bound to give those who have accepted 600p per share as per the agreement, then have to sell in the market if they decide they no longer want to own it.

[weatherman] 24/10/2007 21:43

TLNT board are recommending acceptance of the deal.

[charlie] 24/10/2007 17:48

I think the deal is more likely to go ahead than not, because

(1) The deal can't (or shouldn't) have been predicated on PC making immediate and drastic member-hostile changes to the pension fund, because the Pensions Regulator would never have allowed that anyway (and PC knew this - or should have done). The deal must have been predicated on gradual, sensible changes.

(2) The unexpected development is that the Regulator has acted pre-emptively, rather than getting involved if and when PC tries to do something naughty. But this doesn't preclude the possibilities for gradual, sensible changes.

(3) Note the letter to members on Telent pensions website: "....neutral regarding the ownership structure of telent plc...keen to learn about and discuss CILP's plans...open to considering a range of alternative options for the plan's future, consistent with the plan's long term investment objectives." This suggests that gradual, sensible changes are still a goer.

(4) PC want to do lots of pension deals. If this, their first public company deal, were allowed to fail because PC wimps out at a very late stage, that would be a v negative reputational issue for them in progressing future deals.

So no guarantees, but it seems to me better than 50:50 the deal will go ahead.

Any comments?

[weatherman] 24/10/2007 16:06

The market seems worried that the takeover might collapse if CLIP withdraw as a result of the independent appointment of trustees to the pension fund. Presumably they are delaying to seek advice.

[heaven] 24/10/2007 15:31

They offered £6 when the share was below £5 so they must be happy to proceed. Why would you want to withdraw your acceptance?
You can buy today and now recieve a 9% premium, either the market maker know something or they cannot be bothered waiting.

[weatherman] 24/10/2007 14:34

As someone who has accepted the deal I am unable to withrdraw my acceptance. Are they bound to accept the 600p agreed sale price?

[heaven] 24/10/2007 10:09

If the deal goes through you can buy today and a recieve a 6% premium.

[prallum] 23/10/2007 17:57

Is the take over a done deal?

[weatherman] 25/9/2007 09:54

I wonder whether any other pension buyer will emerge.?

[powwow] 25/9/2007 08:53

Hi guys,, not sure what I have at the moment, but a while back I was unfortunate to own MONI shares. Lost 99% and after that I think they gave some shares was it and warrants.

The £6 a share offer at the moment will mean what ? That we will get some money for the shares and warrants we were given?

Thanks in Advance, any help would be appreciated.

[weatherman] 06/8/2007 10:13

Telent now has £250m free cash. Market cap £324m with turnover of £309m

So turnover of £309m supported by enterprise value of £75m.

[weatherman] 04/7/2007 20:33

Looking like a break out !

Will it last ?

[charlie] 10/6/2007 23:23

Rising real interest rates in the past few days have increased the net funding position of defined benefit pension schemes, including telent. See post 61 above. £1.1m per basis point, according to the latest results statement. So a 1% rise is worth very roughly 195p per share (before convexity).

The market doesn't understand this yet. When it does, telent will soar. And now starting to see the basic idea in the press - rising real rates is very bullish for companies with big pension funds -

[mmeredith] 09/6/2007 21:37

Over the past week weatherman i think it has proved just that and been some decent size x trades going through thursday and friday as well. Always amazes me with TLNT how few retail investors deal in it and really does seem to be one for the preserve of city institutions.

[weatherman] 06/6/2007 16:34

I would have thought that at these levels in volatile TLNT would be a defensive stock.

[mmeredith] 04/6/2007 19:14

Decent summing up.