Last April there was a ‘highly preliminary expression of interest’ from Waterland Private Equity. Anyone know anything more about ie what price was being considered |
On the way back up. Plenty more to go for given that update...
A clear case of I told you so. |
Twitching today, but if The Lawyer is worth £35m (my opinion) and the rest 0.5 x revenue once they've rationalised (seems reasonable), then a target share price of 35p+ seems a good baseline. SOTP may be a fair bit more IMVHO. |
Weren't they the ones waxing lyrical about how good Swag Mukerji was supposed to be? |
A Harwood shake-up or break-up coming by the looks. |
I suspect The Lawyer alone is worth the current market cap at 25p/sh. Some other good bits and some bits where costs out of synch with current biz levels. Malaise in UK small caps might leave it down here for a while I suppose but for the patient, this looks a decent entry... |
I wonder just how big the seller is here as still available in large amounts at the bottom of the spread. |
Surprised the Downing overhang could not have been done with some friendly holders. |
Seller still about. Could buy a large amount at the bottom of the spread. |
DSM selling down their stake - CEO bought some. |
interesting weatherman.....sold over a couple of weeks. I wonder how much that has weighed on the share price given the illiquidity..... |
Exercise of options, some sold for tax. |
Added today....taking the loooonnnnngggg view! |
Edison has note - positive for recovery. |
So where is this up to? One minute it jumps 50% on PE interest the next it has given it all up and some. Have started a small position but hope to take it further.
I'm sure other outfits will be running the slide rule over it. Interested in others thoughts. |
Agreed redwing - this business generates good cashflows and is valued well below the B2B media peer group despite the transformation process undertaken in recent years. I would be disappointed with anything less than 65p and think a price of 75p is easily attainable should other buyers emerge. |
Why? Valuable media assets can attract high multiples (and certainly The Lawyer fits the bill). 15x earnings and 3x turnover might be feasible. |
Would have to be very keen to pay more than 10 times profits, and 2 times turnover, which is actually a little lower than todays market cap. |
No, 50p won't be the price if it happens. The announcement talks of a 'highly preliminary expression of interest' and therefore the market will be discounting the chance of no deal materialising. My guess would be c60p or a little higher if it happens. Let's hope it does! |
If this is going to get taken out I can't believe the likes of Aberforth and Harwood will accept 50p. Be interesting to see what their CMD brings on 23 Apr, particularly their capital allocation thoughts - if it still goes ahead of course. |
Hope you have still got yours BB |
bought in here yesterday...some good value on offer here. a week too late for some quite tasty gains it seems but FV for this looks well far above where we are today... |
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