Blue Prism Share Discussion Threads

[smartmart2491] 27/9/2021 20:26

"People familiar with the matter" shouldn't be making such information public.
With such a large institutional holding one hopes they know true value be it £11.25 or more.

[danvandan] 27/9/2021 20:22

Oh my! So James Ratesh WAS saying he'd accept a bid for much less than £16. Looks like the ball is in TPG's court. Does anyone have any info on Vista's record when it comes to bidding for companies? Do they usually pay much more than their original offer?

At least there's now a definite floor under the shareprice. Possibly a rise tomorrow, but probably no fireworks unless there's word from TPG.

[hazl] 27/9/2021 20:04

I hoped it would be more,I agree.

[lsoc85] 27/9/2021 20:02

Scandalously low. Hopefully it's just to light the blue touch paper.

[troken] 27/9/2021 19:11

Private equity firm Vista Equity Partners is nearing an agreement to acquire British automation software developer Blue Prism Group Plc for about 1.1 billion pounds ($1.5 billion), people familiar with the matter said. The U.K. technology company is set to recommend Vista’s bid of 1,125 pence a share as soon as Tuesday, said the people, who asked not to be identified because the discussions are private. The offer would represent a premium of about 35% to Blue Prism’s closing price of 832 pence on Aug. 27, the last full trading day before takeover interest became public. Blue Prism said in late August that it was in discussions with Vista and TPG about possible offers for the company. Both firms have until 5 p.m. local time on Tuesday to declare whether they would will make a firm offer under U.K. takeover rules. After the Vista deal, the buyout firm aims to combine Blue Prism with existing portfolio company Tibco Software Inc., which it acquired in 2014, the people said. Vista plans to maintain Blue Prism’s U.K. headquarters and invest in research and development, they said.

While Blue Prism’s board is endorsing the Vista offer, other suitors could still emerge, the people said. Representatives for Vista and Blue Prism declined to comment.

Shares of Blue Prism have fallen about 31% in London trading this year, giving the company a market value of about 1.15 billion pounds. One of Blue Prism’s independent directors, Murray Rode, was previously a longtime member of Tibco Software’s management and served as its chief executive officer after its purchase by Vista. Activist investor Coast Capital, which owns just under 3% of Blue Prism, recently said it’s open to a private equity takeover of the company after initially opposing a sale. The investment firm’s founder James Rasteh said the company’s management had now earned his trust.
The software company’s depressed valuation reflects concerns about gaps in its product portfolio and its distance from key clients and investors in the U.S., Rasteh said in August. He said his firm had spent five months drawing up potential operational improvements that would accelerate Blue Prism’s sales growth. Vista, which focuses on investments in enterprise software companies, was founded by billionaire Robert F. Smith in 2000. It has more than $81 billion in assets under management, according to the firm’s website. Shares of Blue Prism have fallen about 31% in London trading this year, giving the company a market value of about 1.15 billion pounds. One of Blue Prism’s independent directors, Murray Rode, was previously a longtime member of Tibco Software’s management and served as its chief executive officer after its purchase by Vista. Activist investor Coast Capital, which owns just under 3% of Blue Prism, recently said it’s open to a private equity takeover of the company after initially opposing a sale. The investment firm’s founder James Rasteh said the company’s management had now earned his trust.
The software company’s depressed valuation reflects concerns about gaps in its product portfolio and its distance from key clients and investors in the U.S., Rasteh said in August. He said his firm had spent five months drawing up potential operational improvements that would accelerate Blue Prism’s sales growth.

Vista, which focuses on investments in enterprise software companies, was founded by billionaire Robert F. Smith in 2000. It has more than $81 billion in assets under management, according to the firm’s website.

[hazl] 27/9/2021 19:08

Thanks troken.

[troken] 27/9/2021 19:04

his just popped up on my Bloomberg news feed: MEDIA-Vista said near $1.5 billion deal for software firm Blue Prism- Bloomberg News

[m w] 27/9/2021 18:44

If they were going to walk away they would have done it by now

[danvandan] 27/9/2021 16:08

Or both 'bidders' walk away; that often happens too.

[m w] 27/9/2021 14:40

That's what usually happens

[sunnysideup1] 27/9/2021 14:39

Deadlines and dates can be extended i think

[danvandan] 27/9/2021 12:36

One and a half days left for Vista and TPG. My guess is that there will now not be an announcement until after the market close tomorrow. GLA. I hope it's positive news.

The volume and price action today suggests 'no deal' to me though. Private equity firms are not the best at keeping secrets from their friends, and if an announcement were imminent, I'd expect to see some steady insider buying. I don't think that's happening. It's only a small clue, and obviously could be wrong.

[blueforce] 24/9/2021 08:33

DVD
RE. Posts 8049 & 8050


Surely you don't need to ask "How is VD unhealthy"? ;-)

[danvandan] 23/9/2021 22:47

How is it unhealthy?

[jias] 23/9/2021 22:44

Ha Ha, You seem to have an unhealthy interest in the frequency of my posts. Can I refer to you as V.D?

[danvandan] 23/9/2021 22:29

Thanks jias - can I call you jiz for short? - for this rare contribution since it is your 40th post after 16 years on advfn, an average of one post every five months. I won't expect to hear a response from you until February.

The bloomberg piece cites a very very thin 'interview' with no reference [if anyone can figure out where the original 'interview' is, please tell], this being the only new quote:

“Coast will be supportive of whatever deal gives the company the best opportunity to improve its prospects,” Rasteh said in an interview Thursday. “We have full confidence in the company’s ability to accelerate growth and reassert its leading role in the sector.”

A representative for Blue Prism declined to comment.


As far as I can see, this is no different to what James Rasteh was saying before. Perhaps he's trying to promote a message along the lines of; I didn't really mean it when I implied you might have to pay me £16 for my shares. Or to take that a step further, perhaps it means, please buy this wonderful company for whatever you think it's worth so that I can get out of this worry truck...

I'm wondering if this is a desperate attempt to breathe life into a comatose 'takeover bid'. Anyway, good of him to try. What the article doesn't seem to be saying is; bid higher, you're not getting your hands on this fabulous UK gem for peanuts!!

3 trading days left before the bid deadline expires. Perhaps they can do the deal over the weekend and announce it on Monday morning. Let's hope they offer something, anything, that looks even vaguely reasonable. Since no other bidders have yet emerged, maybe TPG and Vista hold all the cards.

[mccore] 23/9/2021 08:56

LOL DanVanDan - paranoia gets a grip!

[danvandan] 23/9/2021 01:03

As for the bid price; so far there isn't one!

One interesting development though - Systematica has reduced its short after a week or more of watching and waiting, down to 0.79% of shares (approximately a 10% reduction on the previous short position of 0.87%). So there's a sign from a professional with a significant stake in the shareprice that maybe this could be going up.

On the negative side, the trading volume has dropped away. Just four trading days left before the current 'bidding war' (lol) ends without a shot being fired. But 96 hours can be a long time on the stockmarket; still time for anything to happen. GLA.

[bigboi92] 22/9/2021 23:27

Anyone hear about what the bid price is going to be?

[cocker] 22/9/2021 14:33

28th I believe

[hjs] 22/9/2021 13:27

Any body know when is the deadline for the likely bidder to take over this company?
In my mind it is end of sept but not sure.

[mccore] 21/9/2021 22:23

... all just meaningless noise DVD.

[danvandan] 21/9/2021 18:58

The Bulls signal generator has just updated with today's trading:

Signal Update
Our system’s recommendation today is to STAY IN CASH. The previous SELL signal was issued on 20/09/2021, 1 day ago, when the stock price was 1,154.3200. Since then PRSM.L has fallen by -4.27%.Market

Outlook
The bears still have the upper hand in the market. A more cautious attitude may be required, but there is no definite sign to urge you into action and to disturb your comfort of being on the sidelines.


Yep, I agree with being comfortable on the sidelines here.