Codemasters Share Discussion Threads

[stopps] 09/11/2020 08:20

ali can you print it here please?

[ali47fish] 09/11/2020 07:22

what s the slater rnns this morning means

[melody9999] 08/11/2020 09:19

I invited Sagnier to connect with me on Linked In just now. Suggest all PIs do similar.

Frank - as a shareholder in CDM, I wanted you to know that, in my view, and in the view of many other PIs, the offer from Take Two is derisory. You have a fantastic business with great prospects. Why sell now - unless there is some other agenda?
Maybe you would like to connect with me and explain?

[jamessmith23] 07/11/2020 17:33

I'm hoping/expecting a second offer to be honest, 485p is ridiculously cheap based on the potential of CDM and its peers will know that. Would be very dissapointed if we don't get another offer and am happy to hold out for a few weeks.

[boozey] 07/11/2020 15:53

I would sell into the market on Monday morning and reinvest in SUMO or TM17. The former was tipped in the Daily Mail today. Assuming this deal goes through at the current ceiling, with lockdown and Christmas coming there is more upside in other gaming stocks.

[stuffee] 07/11/2020 14:49

Very disappointed with this.

Too much gain for Take-Two at Codemasters' shareholders' éxpense. Large part of consideration comes from CDM's own cash. Introducing debt into consideration enhances Take-Two's eps irrespective of synergy gains and CDM's great prospects. Not surprising Take-Two's price increased by $7 on announcement, increasing its market cap by $800m - that's a gift from us to Take-Two! What's amazing is that the CDM board and its advisers don't appear to have followed normal practise of fixing share exchange terms when deal announced, merely referring to value of 485p (120p cash and 365p in Take-Two stock), so no benefit to us from yesterday's predictable TTWO price gain - naive in extreme. The Board and Jefferies, its advisers have been totally legged over by the US.

I will be voting against. I regret chances of any counter offer look pretty low in view of lock down restrictions, but I would rather retain CDM as an independent company, until a fair proposal turns up, maybe at a later date.

[riverman77] 07/11/2020 14:02

Slater is the biggest shareholder with around 10%. I heard a recent interview where he was very bullish on the company and would be very surprised if he supported this deal.

[mauricemonkey] 07/11/2020 13:05

BoD hold very little of the company - need the fund holders to realise this is a terrible deal and block it.

Unlikely though :(

[dustyie] 07/11/2020 12:04

A very smart move by Take-Two Interactive , if they can purchase codemaster at this price, codemaster games are only now gaining traction in the world market. It takes years to develop games from scratch , but once it gets going , it a moneyspinner for decades to come . one only has to look at the rising margins and revenue . When I purchase the shares i figure that codemaster could easy do over 40 p eps by 2023 .
just another note , the world Gaming market is forecast to grow at 13% (annualy) to 2027, so it easy market to expand in .

[dicktrade] 07/11/2020 09:06

ttwo is $18b mcap !!

[dicktrade] 07/11/2020 09:03

Boozey
thats what i was thinking,

[shauney2] 07/11/2020 08:59

What should be noted is that this could very well lead to interest, and a higher offer, from companies like Tencent, Electronic Arts, Activision and potentially even Sony. It also could be a simple case that Take-Two doesn't decide to make the proposed offer. Either way, it is now known that Codemasters is for sale"

[gswredland] 07/11/2020 08:58

Surely shareholders have to vote on the deal though?

[boozey] 07/11/2020 08:54

Bizarre offer. For sure more to this than meets the eye. Likely big promises for the existing BoD post acquisition at Take-Two.

[dicktrade] 07/11/2020 08:34

this price does not add up to me.
SP @ 400 recently a good TU could have taken this to 450.
i wouldnt be surprised if the BOD has their own personal agenda here.
485 and not all cash is terrible IMHO.
id like to know what Mark Slater and Andy Brough had to say
about this.
Unless another suitor shows up we have been shafted.

[tole] 07/11/2020 07:08

https://www.thetimes.co.uk/article/video-games-group-take-two-in-hot-pursuit-of-codemasters-dwn8kt2txNeed to register but adds that the lowball offer could flush out other suitors from rival games firms such as activision blizzard or Tencent citing a cash offer over 500p would be more suited.

[megsidi] 06/11/2020 20:52

Totally agree Janhar, not sure why the BoD have approved it when they must know themselves that CDM was valued low when compared against its peers. Can only hope there is a counter bid but if not will take the risk and end up selling before the deal goes through

[gswredland] 06/11/2020 20:00

Hopefully this will put it in play for other offers

[mauricemonkey] 06/11/2020 18:12

And another thing....

It's likely by the end of FY2021 10% of the current market cap will be cold, hard, cash. In that context, we're getting 10% less than the stated £4.85 per share.

This offer is derisory. The board should hang their heads in shame!

[riverman77] 06/11/2020 17:48

Very poor offer and not even in cash but mainly stock.

[mauricemonkey] 06/11/2020 17:46

Is there anything in the takeover code about pursuing companies not being allowed to offer inducements to board members to get them to recommend approval?

I don't get how the board can accept such a low offer, barely 10% premium of an already below peers P/E.

[janhar] 06/11/2020 17:41

Funny time to release the news - maybe giving other interested parties time to consider their options over the weekend. Odd that the Bod have unanimously approved it.

[investing2retire] 06/11/2020 17:35

im not complaining as got in at £3 and been building a position. but i do agree that its worth more