Boostgold Discussion Threads

[isis] 08/3/2010 09:20

I think once all Share Options are taken into account Constellation have just under 40%, so they need more than GG to control GLD.

Constellation probably already have a strategy to deal with a counter bid - they do lots of bids.

[greengiant] 08/3/2010 09:18

dd - That is exactly my point ;-)

Constellation will not want a bidding war, they have played this one reasonably well (this time around after their terrible strategy last year).

I think 38p is a fair price, like I said, with Constellation, you get certainty.

gg

[davidosh] 08/3/2010 09:13

gg..lol. You have rather made it easy for Constellation to know where the finishing post might be !! I am still going to stick out for 40p but of course the benefit Constellation has is that 43% already in the bag and they can either push AN or a third party bidder much higher or simply match their bid with firmer guarantees. I cannot see Constellation wanting a bidding war.

[isis] 08/3/2010 08:47

Constellation could get double for GLD in a couple of years - they'd be mad to let it go now.

[langland] 08/3/2010 08:45

There we are then...potential done deal. All CS has to do is ring you up..bid you ...up to 48%...mandatory 38 bid for the rest of us.

[greengiant] 08/3/2010 08:38

Wonder if we will get a response from Constellation when Canada wakes up? Market obviously believes that 33p is not going to happen. Happy to sit back and see how this unwinds - altho' if anyone offered me 38p for my shares I would sell

;-)

gg

[greengiant] 07/3/2010 10:11

dd - very nice. My view is that 38p will do it for Constellation. I think you get to a stage where the reward of going with Active Network is outweighed by the fact that there becomes no certainty that they will do the deal.

Constellation will do the deal, with no erosion of the price. 38p is a fair price for all parties and would make the deal good for all parties.

Can you text me your e-mail address. Going to be having a good look at Tandem today and tomorrow

Cheers

gg

[davidosh] 07/3/2010 10:04

interesting website and very interactive...

[grahamburn] 06/3/2010 18:26

At least Active's statement goes some way to explaining why in their results statement Gladstone made their comment about a dividend payment (see my post 3182) - ie Active state clearly that their offer will be dependent upon a dividend NOT being paid. Presumably Gladstone were already aware of this a couple of weeks back. Guess Active would like Gladstone's cash pile intact aftger the takeover!

However, I suppose Gladstone still retain the option of trying to fight off Constellation with the carrot of a dividend should Active fall by the wayside.

[langland] 06/3/2010 11:35

Since Constellation made their first bid in Oct 08, the CAd $ has appreciated 21.5% or the equivalent of 30.5p (25p) in today's money. So, they have effectively picked up 43% of the company at a little more than 25p (in Oct 08 terms). On this basis you would think they could easily go to 40.

[moorsie2] 05/3/2010 20:41

I can't see Constellation sitting on their hands here either.

If they want the company then raising the offer to 38p would not be beyond their resources or interests.

Will be an interesting week next week and the share price on Monday morning will give a good indication of what price the market expects this to be taken out at. Also weekend press should cover this now..

[davidosh] 05/3/2010 18:55

I may be wrong but I cannot see Constellation with 43% taking just a 9% premium if they really see value in having GLD....they will probably push Active Network close to 40p now the cards are out on the table and they know who they are dealing with. I think most of us still feel 40p is a fair price.

Does anyone know anything about Active btw ? I guess we should be doing our own simple DD so that we are certain this can run and run...

[greengiant] 05/3/2010 18:27

pv - thanks, but it isn't done yet. There are some belters out there at the minute. PST still looks good. Thinking about doing something on RNSM, not what people would be expecting either

;-)

gg

[patviera] 05/3/2010 18:22

I Would guess this company goes out at 40p...and I was the only buyer at 10p!! goes to show what great opportunities there are in the markets!!!

[patviera] 05/3/2010 18:18

well done gg....I CANT believe constellation will accept..esp with the pound here...delighted for you andrew....pg by PST!!

[greengiant] 05/3/2010 18:14

LD - No price mentioned.

As for the 36p offer - it would depend on whether Constellation believe they can go beyond 50% without increasing their offer. This depends on how ill informed shareholders are. There is no reason why Constellation shouldn't increase their offer.

On the other hand, you have certainty that Constellation will complete the deal, with Active Network, there is no certainty as DD has to be performed. As I said earlier (so long ago) I support the Board and would accept 36p if Constellation did not increase their offer.

gg

[ldmachin] 05/3/2010 17:24

Looks like 36p it is then... even has the boards approval.

Just need Constellation to roll over now and play ball... unless they fancy putting in a higher offer to make things interesting...?

[strollingmolby] 05/3/2010 17:11

36p offer from Active Network!

[langland] 05/3/2010 17:10

I must say it is difficult to understand why a hedge fund this size would get involved with GLD.

[ldmachin] 05/3/2010 16:47

greengiant,

Was a price actually mentioned? Did they mention, maybe, an alternative higher price as you said to them you wouldn't accept 33p?

[davidosh] 05/3/2010 16:07

The hedge fund are clearly aiming for a significant position then.

[greengiant] 05/3/2010 16:00

Had a call from a person representing a hedge fund - would i be interested in selleng.

Answer - not at 33p

Still holding

gg

[stillwatching2] 05/3/2010 14:15

Unfortunately for us, GLD are yet to have a management team that looks out for the shareholders. On past form they probably spent the last 3 months getting their own position sorted.

[egoi] 05/3/2010 12:53

I'd love to know where the original 33p came from, and why they walked away.