Flowtech Fluidpower Share Discussion Threads

[littlemadam] 25/6/2008 22:18

seen this evening's announcement? looks like someone knew b4 hence the drop pm. Any calls on tomorrow?

[psolomons] 25/6/2008 09:10

I agree that Mentor probably won't pull out but the company trying to take them over might.

[techmark] 25/6/2008 08:47

I'm not sure Mentor will walk away, they seem pretty keen. If they raised their offer to 120p it's only going to cost them an extra £2.5 million roughly. Are they really going to walk away for that? If so, then I'm not sure why they are bidding in the first place.

[psolomons] 25/6/2008 08:38

My guess is that its 104p or another white knight needed. If mentor pulled out lets not kid ourselves that the share price would stay anywhere near this level.

[techmark] 25/6/2008 08:33

Need the share price to hold up at close to the 104p level which it seems to be doing now.

[battlebus] 25/6/2008 08:28

Hopefully not Techmark, if you can afford to wait better value lies ahead.

[techmark] 25/6/2008 08:25

battlebus,

You say that but look at the share price, now significantly below 104p, that's only go to tempt people into taking the offer.

[bungler] 25/6/2008 08:18

The FT seems clear that Mentor's level of acceptances has fallen:



Mentor stumbles in Flomerics bid
By David Blackwell

Published: June 25 2008 03:00 | Last updated: June 25 2008 03:00

Mentor Graphics, the US electronic design specialist listed on Nasdaq, has reported a fall in the level of acceptances for its hostile bid for Flomerics.

At the second closing date yesterday it had received acceptances for a further 2.19 per cent of the shares in the Aim-listed engineering software company. On the first closing date on June 9 it had acceptances for 2.44 per cent of the shares.

Earlier this month, Flomerics identified a potential rival bidder in Autosdesk, another design software group listed on Nasdaq. Autodesk, which has a market capitalisation of about $9.3bn (£4.7bn) and annual sales of $2.2bn, has been in preliminary discussions with Flomerics for several weeks. David Blackwell

[battlebus] 25/6/2008 08:17

Not a chance the current management will prove right you'll just have to wait a while longer for your shares to reach the 1.50 level .

[techmark] 25/6/2008 08:08

No offer from Autodesk. Looks like Mentor will be getting some more acceptances now and will probably get this at 104p.

[eezvmt] 24/6/2008 22:33

It is totally confusing and unclear. It does look like that some people have already changed their mind and decided to decline the offer they initially accepted.

Also, what is the point of extending the offer for another week or so, while the keeping the same obviously unattractive offer. It seems that Mentor have run out of ideas what do and just buying more time?

confused...

[bungler] 24/6/2008 08:02

Not sure I understand that RNS on Mentor's latest level of acceptances. Apparently they now have 2.19% on top of their original 29% or so. At the first closing date they had 2.44%!? Does this mean the level of acceptances has fallen or are the two figures to be added together does anyone know? If the latter they now have approximately 34-35%. Either way we're now into another extension period.

[techmark] 23/6/2008 16:50

Well the offer period closes today, so hopefully we will see Mentor raise their bid soon.

[psolomons] 23/6/2008 11:03

Interesting to see what happens today just before the US markets open.

[psolomons] 21/6/2008 15:56

Autodesk are busy in the acquisition market. They bought another company yesterday.

---------

SAN RAFAEL, Calif., June 20 /PRNewswire-FirstCall/ -- Autodesk, Inc. (NASDAQ:ADSK) today announced that it has successfully completed its tender offer for shares of Moldflow Corporation.

Autodesk's tender offer expired at 6:00 p.m., Eastern Daylight time, on Thursday, June 19, 2008. To date, Autodesk has purchased 11,622,163 shares, representing approximately 95% of the shares outstanding.

Autodesk expects to complete its acquisition of Moldflow by merger on June 25, 2008. As a result of the merger, all remaining outstanding shares of Moldflow which are not owned by Autodesk, Moldflow or any of their wholly- owned subsidiaries, will be canceled and automatically converted into the right to receive $22.00 per share, without interest, less any required withholding taxes. After the completion of the merger, Moldflow will be a wholly-owned subsidiary of Autodesk.

[mudbath] 20/6/2008 21:05

Thanks varies.

[varies] 20/6/2008 19:29

mudbath
I doubt very much if I still have the Techinvest article that inspired me to buy STL shares many years ago.
My papers are all at home in Shropshire and I do not return there until the 26th. I wiil have a look then and post my reply on the STL thread.

[mudbath] 20/6/2008 16:35

varies-could you do me a favour and post on STL the "story" that originally enticed you to buy.I remember,years ago,reading fancy pieces in tip mags extolling Stilo's potential.It did seem,at that time, to hold the digital publishing world, via its cutting edge software,ready for conquering.Maybe that era has now edged closer despite the stock having fallen by 98%!!Cheers.

[psolomons] 20/6/2008 16:23

Im sure they do, but I hope the FLO board know what they are doing having advised everyone to hold. Lets hope that once the Mentor bid deadline passes on Monday that they have worked out 'plan B' if there is no new offer from them or Autodesk. If the share price falls back we will have lost alot of money (allbeit short term)on their advice.

[firth] 20/6/2008 16:06

Does the wife know of this extra matrimonial reationship with 'Patience' Mudbath ?

[powwow] 20/6/2008 13:55

you have to laugh.. mentor want to buy flo cheap, yet dont want themselves to be taken out cheap lol... I don;t think Mentor will win ....

[mudbath] 20/6/2008 12:42

Yes varies-or cannot the announcement simply be that Mentor has increased its offer to £1.45.The Flomerics board can at that stage bow to the inevitable and recommend-or-turn to white knight Autodesk,who "fill us in" with an agreed £1.66 per share bid?.I have enjoyed a long term relationship with Patience and am happy to report that she looks after me well.

[varies] 20/6/2008 11:24

I see that the extended bid expires on the 23rd. Having been away from home this week I wonder whether the defence team have been telephoning shareholders again. Have other registered holders received calls ?
Supposing Mentor Graphics fail to attract enough support this time, then they might be tempted to refrain from extending their bid again as their principal focus will now be on defending themselves from Cadence.
If so, will Mentor be forbidden by our takeover rules from trying again for 6 months ?
They could, of course, sell their shares on to Autodesk or anyone else willing to bid for FLO but the $15 million or so these might fetch is immaterial to their defence.
What I would like to see on Monday morning before the market opens is that Mentor has sold its shares at 145p (to borrow Mudbath's suggested price)to XYZ who would then offer this price to everyone else. I am, however, resigned to seeing no announcement of the sort and holding my shares a good while longer.
Business is obviously looking up for FLO and I intend to hold on. Patience may be required.

[mudbath] 20/6/2008 09:50

Can't help but notice that if FLO actually falls to a bid, then 1.6 times historic revenues equates to £1.45 per share-which fits in nicely with my target price!