Debenhams Takeover Rumours (DEB)


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Theres discussion that a possibility of a joint takeover involving ODEY and Sportsdirect. They have over 36% debs shares and they dont want to see their investment vanished.. THE GAME IS ON.. INVESTOR'S CASH STILL ALIVE..ðŸ‘￾ðŸ‘￾
exactly ltcm1 . the potential offer is bullshit to try to get shareholders on the boards case. Anyone with any sense knows he won't / can't bid because of the debt & leases. the takeover panel should throw the book at him for abusing the code
FT Sports Direct said it was still giving “active considerationâ€￾ to a 5p-a-share takeover bid for the 70.1 per cent of Debenhams it does not already own, and pointed out that under UK takeover rules it has until April 22 to do so. But shares in Debenhams closed 10 per cent lower at 1.83p, reflecting increasing scepticism that such an offer will materialise or be approved by creditors, who are expected to push the company into administration before Mr Ashley can table such an offer.
Options now:A.Bondholders to be repaid and shareholders get 0OrB.Massive dilutionC. Takeover and shareholders get 5p C is unlikely as it was replaced today by massive dilution.B on unknown terms. Very risky to buy todayA only mad would buy now
22nd April is the rule 2.6 deadline for a takeover bid according to the takeover panel disclosure table issued this morning.
Ashley plots 11th-hour offer to buy #Debenhams Sports Direct tycoon Mike Ashley is this weekend plotting a last-ditch £60m takeover bid for Debenhams
#DEB Mike Ashley: make me #Debenhams CEO and I'll back £150m rescue Sports Direct boss seeks to prevent lender takeover that would wipe out his stake
Retail tycoon Mike Ashley has offered a £150m cash injection to ailing retailer Debenhams - as long as he can become its chief executive. Mr Ashley, who is Debenhams' biggest shareholder, has been embroiled in a battle for control with its board. Last week, the retailer challenged Mr Ashley to table a firm takeover offer or abandon his attempt to take control and provide funding instead. Debenhams has refused to comment on the offer. Days before a lender-imposed deadline is due to expire, Sports Direct has offered to underwrite £150m of new equity funding for the retailer but only if Mr Ashley becomes chief executive and £148m of debt is written off by lenders, who include banks and hedge funds.
On a lighter note INM is in discussions about a takeover, nobody has caught on yet, sp is low, take your pick, I'm in!
Where is everyone? So the money needed immediately is in place, but need more by next Monday (100m) but to get that a takeover bid has to be in place, so if MA does not bid does that mean out of money by Monday and goes into administration ? That’s the way I read it, also MA does not sound like that bid is coming forward, if it was he would have done by now imho dyor
Any refinance deal will have to be approved by the shareholders, MA owns 29 pecent so it's in his interest and the other major shareholders to accept a deal that shareholders are a part of. MA is not going away and will probably up his offer and force a shareholders vote for control and there's nothing the board can do about it as shareholders have the last say. It's a shame debs has let it's self be vulnerable for this kind of takeover but at the end of the day shareholders have the last say on who runs the company .I wonder what MA would vote for !!!
This is the article about the SPD debt position and the amount they will need to buy Debs:
MA has given up, the BOD already decided to give the company to the bondholders. All MA can do is start buying up shares and force a hostile takeover and remove the BOD. MA is cheap as well, he could easily get 51% of the company for a 7-10p bid.
#DEB Mike Ashley voices anger as #Debenhams thwarts takeover bid
The company has let it's self be vulnerable to a takeover with share holder's backing. Mike A can push this through just like Melrose did when they got the majority vote to buyout GKN. It's out of the Bod's hands as I think they've left it to late now.Mike A could increase his offer just like Melrose did to get shareholders majority backing as they increased there bid from 7 billion to 8.4 billion last year. We shall see.
This from the times three hours ago The troubled department store chain Debenhams moved a step closer to clinching £200 million of urgent funding thus warding off a takeover attempt by the Sports Direct tycoon Mike Ashley. Bond investors in Debenhams have agreed to changes to the terms of their notes that will allow the struggling retailer to secure a refinancing deal with lenders and push on with a broader restructuring that could wipe out current shareholders. It deals a blow to Sports Direct, which is threatened by any restructuring because it owns a stake of almost 30 per cent of Debenhams
Take a pill he’s probably right, property may well be worth 64 or more, just don’t think it’s worth the other 700m debt, the more I think about this I can’t see MA putting a full scale takeover in, he would have to be barmy, let’s say he’s really good and he turns it round within two years, he will probably lose north of 300 million in those two years, add in 700 million debt and 65 million plus for the bid, he’s in the region of 1.1 billion, let’s say another 300 million upgrading stores and websites doesn’t make sense and puts his personal wealth at risk imho dyor
Decided to bank 65% profit, sold 3.20p, really sky reward doesn’t seem to attractive. More into MSYS & BOOM for my next decent returns dyor as usual. Wish you guys well and hope an offer/takeover materialises as opposed to a wipeout, which no investor likes to see happen to their fellow investors.
rule 9 mandatory SPD WILL HAVETO BUY Milestone Resources, controlled by the Dubai-based retail billionaire Micky Jagtiani, who owns a 7% stake, under Rule 9 of the Takeover Code, SPD Concert Party, is required to make a mandatory cash offer (the "Offer") for the Debenahams Shares not already held by SPD or the other members of THE Concert Party, at a price of ? pence per DEBENAHMS Share (such price being no less than the highest price paid by any member of the MILESTONE Concert Party for any DEBENAHAMS Share during the 12 months prior to the date of this announcement. 19.8p highest paid apparently
FYI Findel, Ashley's other listed takeover target, has published its shareholder circular urging investors to reject Sports Direct's 161p offer which it claims "is opportunistic and undervalues" the company Please do your own research as always.
Debenhams surged nearly 60% after Sports Direct boss Mike Ashley proposed a possible 5p-per-share takeover offer for the department store group as long as it immediately appoints him as its chief executive and cancels its current refinancing plans. Sports Direct shares were up a more modest 2.5%. Please do your own research as always.
Danny, if SD obtain more than 30% they will be obliged to make an offer to buy the company. The problem being that the offer must be made at the highest share price of the year as per the takeover code. There is no way MA will do this. A cash offer however can be made at any price.
The Guardian are saying Sports Direct unlikely to bid for Debenhams:
I know the takeover rules. He wants to take on BOD he needs the blocking shares and that's why he's buying on the open market.
Lex Artis, I suggest you read the takeover rules as well. Goldpig
itcm1, You are wrong. His last purchase was on 1st March 2018. Foe twelve after that date he would have had to bid at the highest price the companies shares traded at during the twelve month period. From memory that figure is over 20p a share. He is now outside the timeframe so a bid for a much lower price is possible. Remaining shareholders might find that figure could be as low as 1p (if it even happens) given that the company is likely to collapse before 22nd April unless immediate funding problems are sorted. I suggest you read the takeover rules. Goldpig
Most doubted that Ashley would want to take on Debenhams pensions, all employees etc with offer. But he’s running out of time & options 1/2 2/2 if he’d bought into the debt he would have been in driving seat. But takeover offer saves other shareholders being wiped out too Debenhams asking for clarity from Mike Ashley on price & how he will pay for debt. But he has 28 days under takeover code to make a firm bid. PLease do your own research as always.
Wipe out still on the table: BBC: Debenhams: clear plan for debt needed More from that Debenhams response to Sports Direct's potential offer. It says that any offer from Sports Direct must provide: -an indication of the offer price and any other terms of such possible offer -a clear plan of how Debenhams' existing debt - which will fall due as a result of any takeover - will be repaid. -a proposal that addresses the immediate funding requirements of the business. Sports Direct has until 5pm on 22 April to table a formal offer or walk away under Takeover Panel rules. Sports Direct has a near-30% share in Debenhams and even before saying it was considering a possible offer had wanted to appoint its founder, Mike Ashley, as chief executive."
BBC: Debenhams: clear plan for debt needed More from that Debenhams response to Sports Direct's potential offer. It says that any offer from Sports Direct must provide: -an indication of the offer price and any other terms of such possible offer -a clear plan of how Debenhams' existing debt - which will fall due as a result of any takeover - will be repaid. -a proposal that addresses the immediate funding requirements of the business. Sports Direct has until 5pm on 22 April to table a formal offer or walk away under Takeover Panel rules. Sports Direct has a near-30% share in Debenhams and even before saying it was considering a possible offer had wanted to appoint its founder, Mike Ashley, as chief executive."
One thing I am unclear about is some posters I respect here are saying some form of restructure would still be possible if SPD bought Debs. However debsdowner said above SPD would still be liable for future lease obligations. My laymans understanding of CVA's is you can only go into one if you aren't making profits. Also if you takeover a company you takeover the obligations aswell as the assets. Or is MA trying to get 51+% of the shares so as to be able to install himself as Chief Exec??? But in that instance how would the bondholders be repaid and how would the £500m refinancing next year be undertaken??? In that instance I don't see how he could get the other shareholders to put any money in.
FT " Numis is advising the company, which has only just been released from an obligation under the Takeover Code not to make an offer for Debenhams. " Strange situation Mike Ashley says he might make an offer yet Numis advises against him making an offer!
Hi Icorrado, Well done on you decision not to sell today. The announcement this evening may well throw up a wonderful chance to sell out at a good profit tomorrow as the possible offer should give a temporary boost to the share price. I attach a link to the takeover rules, but I don't think M.A. will be forced to make a high offer for the shares even though it is in his long term interests to knock out DEB and incorporate it into his retail empire. If he bids I doubt there will be any counter bids. You could easily end up with a short term 25-50% return on your holding. Link to takeover rules: hxxp:// Goldpig
MA could make a bid,takeover and then go for a CVA keeping the good bits he wants and do deals on the rest of the stores if he fancies them. On the other hand takeover and go for a pre-pack of some sorts. He has so many options to choose from.
Robot poor old tits sex worker has found a new mand range rover disco. Https:// Please do your own research as always.
Debsdowner - If anything in my opinion this is great news for shareholders. If a shareholder wipe out was too happen then he would also be wiping himself out? If the company goes into admin then there is no guarantee he would get it as landmark group are also invested in this share. I’m unsure how a full takeover would work with the CMA, whether they might object too it, who knows? My own opinion no advice intended.
MA can block any equity fundraise anyway. If I was a shareholder I'd be much happier with MA running Debs as he'd make sure it avoided administration by playing hardball with landlords, councils, suppliers etc. He may face problems with the Takeover Panel from taking management control without a bid and with the Competition and Markets Authority for having two department store chains under his control. I am sure this will get very messy but great fun to watch.
Robot good afternoon. Mike Ashley has gone shopping again. Https:// Our target are good to go 100-300 pence per share and your at 349 pence per share. Please do your own research as always.
Laura Ashley shares up over 23% on back of @telebusiness scoop of Michael Flack’s takeover interest. I’m told he’s still interested FYI Laura Ashley Market capitalisation: £27.80 million 190 stores Debenhams market cap Market capitalisation: £39.90 million 240 stores in 27 countries. Please do your own research as always.
Q Dairy Crest takeover irrelevant. As for Laura Ashley its lost its way and majority owned by foreign investors and so it may be more difficult for Flack to get away with a bid. In any event you cannot compare Debtenhams to LA Debtenhams has got horrendous billions of leases to deal with. If you think for a micro second anyone will bid for Debtenhams before a CVA yo are delusional.
Dairy Crest shares already trading above offer price (up 12% to 625p vs 620p bid) - investors betting on sweetener or rival bid? Canada’s Saputo agrees a takeover of Cathedral City cheese maker Dairy Crest for just under £1bn. Premium just 11% + than yday price 🇨🇦 🇬🇧 Https:// Lots of bids coming in looking good. Please do your own research as always..
What usually happens is that the buying team is shifted to one side as LF takeover, coming up with trend analysis and theme boards - something the UK buyers would normally do. Orders are then routed through L&F suppliers & logistics chain. The result is a European styled collection that doesn't appeal to UK buyers. Trainer boy will go along with it because he isn't English and will have no idea of UK fashion.(see below) Buying team get frustrated being essentially told what to buy by the suppliers. There is only one winner is a game like this and it ain't Debs. Once again Trainer boy just said - 'Our buying team is shit so we are allowing a supplier to govern what we buy' This man is now telling the Debs clothing department what to do
So many new fake trolls doomed to failure and desperate. It's quite a clever way of controlling a business without paying a takeover premium for it. Given the share price fall it's pocket change to Mike , but maybe he doesn't want to take on all the other Debenhams liabilities V difficult to now argue that this is "just an investment" where SD "wields no influence or control". They are bound by Takeover Panel restrictions until mid-March, following the September comments Please do your own research as always.
Cheshire admits the suppliers are "destabilised"! Really! Well Cheshire needs to look at his performance credit insurance was withdrawn before Mike Ashley wrote to the board. The board of Debtenhams caused the damage to the company not Mike Asley imo and Sir Ian Cheshire comments a deception imo. HTTPs://
Debenhams chairman says Mike Ashley is “free at anytimeâ€￾ to make takeover bid. This is probably the only thing that can save debenhams.
Sunday Papers WEBFG: "The chairman of Debenhams has delivered an ultimatum to Mike Ashley inviting him to make an offer for the entire chain of department stores – if he is serious about wanting to take control. In an interview that will send shockwaves across the High Street, which is facing its toughest ever Christmas period, Sir Ian Cheshire challenged the Sports Direct owner to stump up the cash for a formal takeover bid. - Mail on Sunday" Shocking state of affairs correct all talk without an RNS shareholders being deprived true state of Debtenhams financial position the company could collapse at any time believes Ashley.
Tell that to the industry analysts in the article. They are the ones that quoted 500m total for Ashley to do a fair take over bid. I think they are spot on, 320m for the dept and 200m for the company taking into account the dire circumstances the sector is in, and brexit uncertainty.If he does a takeover bid at around 200m total valuation or 140m for the remainder 70% of the shares he has a good chance of acquiring 100% debenhams on the cheap. It's good enough. The dept might actually even pay itself if the restructuring and the savings they are doing works. You are calling it like it's due tomorrow. 200m of the debt is bonds that expire in 3 years.
Almost everything you mention in your post is wrong. You should go read the latest results presentation document (the long one), it explains everything in great detail. The company isn't being driven into administration at all, the phrase "they lost 500 million in 2018" is very misleading, and the company currently is not at all insolvent. The viability analysis shows it's viable up to at least 2021 with current conditions.The alternative would be for MA to make a takeover bid if he wants the company like Chestire told him, not ridiculous loan shark arrangements that you do with your local pub.
Mike Ashley must be in breach of the takeover rules. By offering 40 million GBP for 10% Http:// Please do your own research.
dan they just sold the print firm why do they need to deny anything. It is not Mike Ashley rules he may have 30% but he wanted 10% of the company shares for the loan Sports Direct’s Mike Ashley has sounded the alarm over the future of Debenhams after revealing he offered the embattled retailer a £40m loan to “saveâ€￾ the business in exchange for 10pc of the retailer’s shares. I would have thought that goes behind the backs of the takeover commissions. Please do your own research.
Https:// Please do your own research.
That kind of return is bollocks for a billionaire like MA. It does makes sense to lend part of his stocks like that in order to push the price down to 5 and do a takeover bid at 20 ish. Panicked investors would push the bod to accept. That's what I thought would happen last week to be honest, but it didn't.
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