Axon Share Discussion Threads

[shareman2] 30/9/2008 09:02

Markets rebounding

[martpow] 29/9/2008 18:37

Infosys are stated to be very conservative and will possibly back out if pushed too far. But perhaps one more bid would be good and then HCL can clinch it at say £7-7.20 ??????

I thought Infosys had 60 hours to respond- that must expire very soon.

[shareman2] 29/9/2008 17:29

£10
Nothing less!

[blockbuy] 29/9/2008 16:02

afternoon all..........more 8.3's than you can shake a stick at..............plenty of interest now.............and those sub 650 shorters will all have to close at a loss which should force things up a little more imo...........

so what will infosys do now?????????????

who's next to bid????????????

how high can HCL really bid up to????????????


I've had a thought and I think Infosys may bid a slightly better fit on the grounds they haven't had to raise money to pay...........on takeover by HCL the book would have a massive debt on it............

;-)))))))))))))))))))

[blockbuy] 26/9/2008 23:24

evening all..............well stone the crows............and there was me thinking nothing would happen till after end of month/quarter............lol..............and the share price thinks there's more to come...............

right, that's the cat amongst the pidgeons.....................just need Fujitsu and NTT to wade in with an initial bid now.............and no doubt a counter now from Infosys..............

every man and his dog can see that £6 is far too cheap considering the continued growth rate.............on it's own over £9 was hit last September time without any bid.....................

out of hcl and info, which is a better fit for Axon??????????

nice...............

;-)))))))))))))))

[spacecake] 26/9/2008 18:29

Nice to see a bit of bidding for what is a very good business opportunity.

[milacs] 26/9/2008 15:13

Great news 650p counterbid.

Let the auction begin.

nice..............

;-))))))))))))

M

[blockbuy] 26/9/2008 09:55

morning all...........why awful milacs?????????? still plenty of time yet...........guess we need the US to sort something out asap re bank bailouts.........you never know, they may get some agreement over the weekend................get september/month end/quarter end out of the way then see what October brings...........

nice............

;-))))))))))))))

[milacs] 25/9/2008 15:50

Heard nothing yet.

awful...........

:-((((((((((((((((

M

[blockbuy] 25/9/2008 11:45

morning all..........some encouraging movement today..........something building??????????

nice..........

;-)))))))))))))

[blockbuy] 23/9/2008 11:21

current turmoil you'd expect to be a little hesitant..........plenty of time left for a counter to come it............markets will settle in a few weeks once hurricanse season finishes, Christmas gets into focus etc imo...............


;-))))))))

[milacs] 23/9/2008 10:13

More to the point, where is the counterbid?

Beginning to think there will not be one.

M

[blockbuy] 19/9/2008 08:52

morning all...............cheers wd............look at the markets today...........lol.........they're gonna ban short selling on finance stock so look at all those shorters closing..............burn burn burn...........lol............

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[wilmdav] 17/9/2008 14:29

bb

I don't purport to be an expert on these things but am sure Infosys could make a higher bid if they chose to do so.

As to who is buying the shares, all I can say is that Panmure, Citi and ABN Amro have bought 412k between them, i.e. about 32% of those sold by large holders. ABN is employed by Infosys and the other two by Axon.

This indicates that there have been other buyers betting on a higher offer coming in, which is of course confirmed by the price above 600p. Seems to be creeping up again at time of writing.

[blockbuy] 17/9/2008 09:56

morning all................good post there wilmdev.............how do the stock market rule work?????? can infosys buy at a higher price even though they've stated a bid price????

common sense says why not, but then wouldn't they have to change the terms of the offer?????? not sure how it works.........

so if it isn't infosys getting these shares then who?????

markest all over the place again then today.................

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[wilmdav] 16/9/2008 19:22

It was Merrill who were said to be advising HCL with Std Chartered providing the cash. So recent events may have delayed things but the takeover by Bank of America seems likely to have resolved any problems.

Another thing to note is that Merrill were part owners of BlackRock. The takeover leaves BR still independent but with a much more stable major shareholder. BlackRock have not sold any Axon share, in fact they have bought a few more since the Infosys takeover bid.

I have kept a rough check on these EPT and Rule 8.3 announcements. So far major shareholders have sold 1.35m shares in dribs and drabs, which is 2.1% of the total issued. Standard Life have sold the most at 592k. Next comes Barclays at 366k and then Lloyds at 185k. Even if the whole lot have found their way into Infosys's hands, the amount is not significant in the circumstances.

No doubt there has been some forced selling by others over the past couple of days and selling by yet others to free up money for bottom fishing elsewhere.

The Court Meeting to approve the takeover Scheme is expected to take place in late October, so any counter bid should emerge within the next couple of weeks or so. The Scheme requires a 75% majority shareholder vote.

[blockbuy] 16/9/2008 09:46

morning all............can't say I saw them mentioned Screamer...........oil continues it's decline...............$92 now on doomberg.............could be the pundits were right about inflation dropping soon???????????

oil dropping will get the banks out of the doo doo re interest rates - bet they'll take the credit too...........and the government..........lol............

;-)))))))))))))

[screamer] 15/9/2008 16:58

So where's this counter bid then? Let's hope Lehman's weren't helping put a deal together!!!

[blockbuy] 15/9/2008 11:13

$96.47 for oil now on doomberg...........................sub £1 petrol soon???????

nice..................

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[blockbuy] 15/9/2008 09:41

oil down below $100 now.........$98.66 as I see from the delayed doomberg ticker.......

should continue to help relieve inflationary pressures which should help with interest rate cuts............

nice..............

;-))))))))))))))

[blockbuy] 15/9/2008 08:50

morning all............so who'd be exposed to investment banks today then???????????? ouch..............

[blockbuy] 12/9/2008 21:35

evening all...............so who are vidacross then????????????????

[blockbuy] 10/9/2008 15:33

oh man......if another bid comes in there's going to be short closing like mad imo..............looking at the rns's from barclays there's quite a few now that could get trapped on a spike up...............

next week or the week after they're expecting another bid according to the about stuff found and posted so far...............nervy time for shoters imo...........

ouch..............

;-))))))))))))))

[blockbuy] 10/9/2008 13:41

afternoon all......top find wilmdev.......wow Fujitsu as well...........a potential 4 way bid war?????????


things heating up and the markets defo seems to think there's a higher offer out there being prep'd being above Infosys's misley £6...........

nice...............

BANGALORE/MUMBAI: The market buzz on counter bid to Infosys Technologies' $753-million offer to buy UK-based Axon Group has a new twist. Banking sources now believe a counter offer could come from Japanese IT giants Fujitsu Software Corp or NTTSoft.

ET could not independently verify the speculation, or the probability of a counter bid from any of these two. While the $18-billion Fujitsu was earlier in the fray to acquire Axon, NTT Soft was keen on SAP assets in Europe. Any counter bid to Infy's offer-announced on August 25-could come as early as next week.

The latest speculation comes even as homegrown HCL Technologies is seen as another candidate to launch a rival offer. HCL has reportedly sought the advice of Merrill Lynch in pursuing Axon, and may take a final call early next week, after putting in place a bridge financing facility, sources added.

The names of the two Japanese contenders are surfacing as some bankers believe the probability of a counter offer emerging from the Indian firms look rather remote. "Axon deal was peddled in the market for months, and most of them has had a look at it. But the surprise in the Infy deal must have been the price, which was certainly not out of whack," said another source.

Fujitsu, it is believed, turned away from dealmaking after Axon management persisted with asking valuation of 700p, but later saw Infy striking a deal at 600p. However, some analysts argue that overseas players, especially Japanese software firms, may not be able to squeeze out anything significant from an expensive counter offer. Unlike Infosys, neither NTT nor Fujitsu will be able to drive up operating margins through offshoring given the expensive workforce back home.