Flybe Takeover Rumours (FLYB)

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Danny Baker I would never rely on disclosures during takeovers being 100% fully confirmed. Many are not aware of their responsibilities to disclose and professionals forget to advise. In my experience it isn't policed that well. A company I founded - which was listed on the LSE - was subject to a takeover and I am convinced many disclosures which should have occured during that period didn't. The Takeover Panel were impotent IMO - I did make a complaint. Rather annoying considering I went to the effort when I had many other things to attend to at that time. I was well aware of major shareholders and their holdings. People simply don't bother to play the game fairly and they are ones that scream the loudest when they lose out. IMHO & DYOR
Clever. I can see how tinkers stob shareholding could increase in value from Flyb takeover on the terms offered, but I can also see how his flybe purchases, in event of a counter bid would also make him money. Now we might have ego and pride involved, and hopefully an in vestigation by SFO or a court case, and that may well cost Stob a lot of money.
Whatsup That is the takeover value. £2.2m I have just checked the accounts. It would have been better to place Flybe into administration. The consortium are picking it up on the cheap. Reading between the lines , the consortium knew it would cost more buying the assets from the administrators. These people aren't daft. Why providing a bridging loan? Why no shareholders vote on Disinvestment? Why buying asset from Flybe? Is that not supposed to be priced into your bid. All these doesn't sound right. It points to BOD collusion with the consortium. (just my opinion)
It seems Directors placed Flybe into their own covert/unofficial administration disguised as a takeover. is their actions in the interests of Flybe shareholders? I don't think so.
Sandcrab, there must be more to it than short closing. Even though the quoted company will be a shell it may have some value in terms of claims against former directors. Also the board have done everything possible to stop it going into administrstion. Maybe there is still some leverage to prevent this possibility. This whole takeover has been perverse so I don't expect the madness to end just yet.
With news that the 20million is currently only 10million it begins to feel as though this is becoming commercial capitulation with only the insolvency practioners walking on the wings to congratulate the takeover consortium on their new acquisition as the death spiral becomes a headlong dive. The question begins to loom: Will the Flybe debacle take Stobart Air down too? Does Connect Airways have a future?
The Takeover Panel and FCA must be having kittens at the moment. Massive turnover in Flybe shares on Friday and only two Rule 8.3 announcements today by AT and T Rowe Price. I accept that many institutions had already exited and there were a lot of private punters dealing on Friday but the numbers just don't up. Add in AT telling people he had bought a stake before it was officially announced to the stock market and you have a flagrant disregard for stock exchange red tape. Is AT acting in concert with Stobart or not? I haven't a clue and it looks like the Takeover Panel doesn't either. I have never before seen such a shambolic takeover situation. Surely the Takeover Panel has to start enforcing its own rulebook or it will become a laughing stock.
There is a very real possibility that Flybe will go into administration if the takeover is voted down. Unless you or fellow investors have £100 million to put in ?
Flybe has sold off slots at Gatwick airport to IAG-owned budget carrier Vueling. Vueling will pay £4.5 million for the spaces at Gatwick in two tranches, with the slots to be freed up for the summer season. The first payment will be made in the coming days for cover summer operations, with another payment in June 2019 for winter 2019/20 and subsequent winter seasons. Gatwick currently accommodates Flybe’s Newquay service, which is due to switch to Heathrow in March. Flybe in 2013 sold a number of slots at Gatwick to easyJet for £20 million. Doubt though has been cast on the Flybe rescue deal after the Virgin-led consortium, which also includes Stobart Group and private equity form Cyrus Capital, reportedly inserted a “Brexit clauseâ€￾ in the takeover agreement. “sources close to the deal" saidthe deal was conditional on Flybe obtaining new operating licences and authorisations post-Brexit.
wonder if Delta have been persuaded about all the Flybe customers who will fly to the USA after a takeover
Scenario 3: "Scenario 3: assumes that the top four airline groups will control c.67% of the intra-European market share by 2025. This scenario hypothesizes IAG buying EasyJet, Lufthansa purchasing SAS, Air France-KLM combining with (its old stake) Alitalia and Norwegian Air Shuttle, as well as Ryanair only being ‘allowed’ (by the EU’s arguable conservatism and interventionism) to buy smaller tail companies (e.g. as per the recent Laudamotion takeover)."
Anyone think the takeover will happen from Virgin etc ?
Https:// This will set the sparks flying time to top up. Flybe shares jump as Virgin Atlantic mulls takeover deal Please do your own research/
If takeover talks breakdown there will be a RNS. So clearly due diligence reviews are still in motion. Could easily take another month or so. Obviously the main point will be the offer price. Sadly when I’ve been in this position before you never seem to get a fair price. So my guess would be 25-30p.
Absolutely, all parties are in the middle of doing there due diligence at mo seeing the value to there existing portfolio... at this price we are definitely in the right sp for takeover. Not if when!!!
Flybe valuation......Let's not forget this IPO'd at circa 300p. Since the IPO Flybe has spent tens of £millions on infrastructure and developing Europe's largest domestic/regional airline. Just have a look at the destinations on their website.Current NAV is supposed to circa 55-60p so with small takeover premium we could potentially be t circa 75-100p. The could be a steal for any seriously interested party, especially if BA and Virgin fight over it ( according to the press, they despise each other). Hold on and wait is the best option imho!
Somebody has to reveal their hand (whether its a takeover, merger, joint venture or something else). I think there may be a lot of different configurations, but any initial proposal could/will indicate what Flybe is valued at by the interested party. It would also help reveal the other interested parties. If there are, which I think there will be, different proposals, then game on....aach party will need to make it attractive to Flybe owners (or at least the majority owners at the time- it could be one of the interested parties)
Hosking Partners LLP- top ten holdings (no8 I think) is delta there a potential hostile takeover on the cards? hxxps:// Question is where did they get 41 million shares from
I think with the collapse of the oil price, the rationalization, possible takeover/joint collaboration etc. Flybe will only go bankrupt if somebody wants it to, and then would try to resurrect it. As it is a number of companies seem as if they would like it...and in the case of bankruptcy (and that is not imminent) they might not get what they would like
Jitters around here but should be positive as takeover is more than likely at a good price otherwise Flybe has contingency plans for improved performance as it’s already added new route to its portfolio!!
peea01, Absolutely correct. STOB's previous offer price was under different circumstances and one could argue FLYB management would now accept the price offered back then. Alot has happened in the last 6-9months that have not been good for Flybe. They are heading towards a chunky full year loss, so some of higher prices being bandied about (50-60p) are frankly nonsense. N one is going to pay that for a struggling airline. I think they will do very well if they achieve a takeover above 25p or a commercial deal indicative of a higher price than the current market value. Cash
Virgin have made an offer Shares NSI: 216,656,776 as posted by beginner3 on LSE at 08:10
Looking at this I would say that the takeover price would be 40 - 45 but could go slightly higher in a bidding war.. and as history denotes that in situations like this there’s always going to be a third party who joins in at last minute, possibly more interested who are undisclosed at mo.
Completely agree with you J , there are options but a good offer takeover would be the order of the day. Looking likely as no rns at mo, they’re doing their due diligence as we speak!!
American idiot, Research shows that Flybe have other options than a takeover, based on many factors, the offer will have to be a good one in order for the board and shareholders to accept it
In the 3 months to June 2018 Flybe flew 2,500.000 passengers which was up by 100.000 on the same period last year. Accounts in RNS release 14th Nov 2018 confirm that Flybe flew 5,241.000 passengers up 0.6% on the same period last year with seat revenue up 7.2%. Producing restated group turnover of £419.2 Million with a net profit before and after tax of £16.1 Million It appears that Flybe refinanced is a very shrewd takeover proposition for the various operators who are reported to be interested. Reuters March 2018 7.19AM Reported that Flybe had rejected the Stobart offer. It is well known that Stobart have many problems. Flybe has its own many options to refinance, apart from a takeover. Flybe is not a fire sale. IMO DYOR
I'm so excited can't wait till the bell tomorrow at 8am ! BOOOOOOOOOM ! I can't sleep ! Next week is going to massive with lots of bidding wars to takeover Flybe ! Guaranteed winner here folks and we will all make loads of wonga ! I've got my bags ready to collect the free money here next week! COME ON RICHARD ! PUT YOUR HAND IN YOUR POCKET AND GIVE US 10 QUID A SHARE HERE !
Last year, the Virgin Group-led consortium proposed acquiring more than 50 per cent of shares in Northern Rock and to keep the business listed.. Maybe not a full takeover
BUT the market cap is now 33 million. Anyone bidding now will have to pay a premium to that.Especially if a hostile takeover ensues 😜.
47p takeover code potential is keeping me in.
I don't see anyone getting this too cheaply given management have, over the last week, demonstrated there is value in the assets far more than what the Market values the equity at. If there is a takeover, it'll be shared by 2 or more in my opinion. Cash
This could still go bust in the short term if they don't get an offer or manage to raise more long-term debt but why anyone would short it at current levels when you know there are multiple potential bidders in discussions I don't know. There's plenty of more liquid, poorly financed companies out there that would make better shorts. Shorting small-caps in takeover discussions would seem to be a pretty foolhardy plan whatever the state of the company's balance sheet. Virgin in discussions is good news, they certainly have the finances to be able to take them over, get rid of the poor management, sort out the IT systems and either use or lose the E195's.
Virgin Atlantic, which is partly owned by Sir Richard, would be interested in the smaller carrier for two main reasons: On top of providing a wider passenger traffic into Virgin Atlantic's long-haul network, a takeover of Flybe would allow Virgin Atlantic to gain access to the take-off and landing slots at London Heathrow Airport reserved to domestic flight.
Sky News Flash Virgin Atlantic in takeover talks 😊😊😊
Which routes would EZJ look to keep in a potential takeover? I would imagine some of the European routes from SOU and BH, the majority of UK routes look quite thin for them. I do not see the rump of FLYB being anything but a cash-pit for EZJ. They are very shrewd operators. 93% load factor, fabulous! A deal would mean offloading the aircraft to someone else. Cash
The boss of easyjet said he was not interested in Flybe "at the moment." He may be saying that at the moment of the interview he was only interested in talking about easyjets results. HUG - That is what I'm saying, if easyjet takeover Flybe they do not have to wait many years for a third runway to be built at Heathrow.
from lse thread so bid likely: spacetec Posts: 72 Opinion: No Opinion Price: 11.30 RE: Stobart and easyJetToday 07:38LONDON (Alliance News) - Budget airline Flybe Group PLC, which put itself up for sale on Monday, is a takeover target for both peer easyJet PLC and Stobart Group Ltd, the Financial Times reported on Thursday. Infrastructure firm Stobart dropped a bid for Flybe in March this year after it was rejected by Flybe, and the FT said it is now not ruling out making another bid. easyJet, the newspaper continued, has said it will evaluate all opportunities for consolidation when they arise.
Budget airline Flybe Group PLC, which put itself up for sale on Monday, is a takeover target for both peer easyJet PLC and Stobart Group Ltd, the...
23p takeover rumours!!! watch this space. City smoke without fire!
I had it planned to put everything here into OPTI if a takeover took place. Depending on how long it took for payments to settle I would probably have 9 - 10 x my current amount here being as OPTI doubled. So I'd have around 110k instead of 11.5 k. Yes, I'm feeling bitter. Having said that, I was initially glad that Flyb rejected the offer. I thought that was a sign of strength but this SP realises it as a sign of arrogance.
Things seemed to be going ok until the maintenance issue. Interest increased after takeover rumours. Surely no-one expected such a steep drop so quickly.
The board are leaving themselves vulnerable and open for stobart to come in with an offer. The final decision would be put to vote by share holder's who 90 percent would vote in favour. Same thing happened with GKN when Melrose put in an open offer first for 7b,s hare price jumped to that value. I was first refused, GKN said it was a undervalued offer. Melrose came back with a 8 billion offer and it was put to the share holder's vote. They voted in favour for a takeover. Same could happen here unless the board take a quick response to the crashed sp and update share holders of there situation and there intentions to correct it. The company is not in a dire state it's a profit warning and its been well oversold and the sp will recover from this level but an offer is highly likely.
the stinger 19 Oct '18 - 20:35 - 5380 of 5537 0 ï‚™ ï…¤ 1 ï…¥ 0 40p NAV thats with assets and cash minus debt!! and not factoring in routes etc etc... i'm a buyer at these levels.... Hold, target 30p. Distressed seller finished too and probs a takeover target..... the stinger 22 Oct '18 - 14:28 - 5420 of 5537 0 ï‚™ ï…¤ 3 ï…¥ 0 25p soon....i'm in with 290,000 shares ave 17.25p, expecting 25p within 1 month.. the stinger 23 Oct '18 - 20:53 - 5442 of 5537 0 ï‚™ ï…¤ 0 ï…¥ 0 Moon...... 40p within a month here. Takeover, i have 250000 at ave 22p...... You have to seriously...who would take being warned not to buy shares in FLYB by this bastion of credibility? "the stinger" you are the weakest link.....bye bye...don't forget to close the door on your way out.
20p takeover from stobart. Over and out
Is this guy the dung a retard? the stinger - 23 Oct 2018 - 20:53:59 - 5442 of 5446 Moon...... 40p within a month here. Takeover, i have 250000 at ave 22p the stinger - 22 Oct 2018 - 14:28:09 - 5420 of 5446 25p soon....i'm in with 290,000 shares ave 17.25p, expecting 25p within 1 month. the stinger - 21 Oct 2018 - 16:40:57 - 5398 of 5446 It is a punt on a hostile takeover
Moon...... 40p within a month here. Takeover, i have 250000 at ave 22p
Takeover coming20p take out and get this thing off the market.
Bray..Exactly, COW is basically being told move on or Its a takeover, either way though big changes are required soon to stem any 2019/2020 losses. If so this can be a profitable coy. I'm looking at a 12p entry and hold which we will see tomorrow IMO.
It is a punt on a hostile takeover
40p NAV thats with assets and cash minus debt!! and not factoring in routes etc etc... i'm a buyer at these levels.... Hold, target 30p. Distressed seller finished too and probs a takeover target...
From the last Accounts, current as 19th June 2018.... "The Group has received a number of early stage bid proposals this year, none of which are now active as they failed to meet the value and deliverability requirements of the Board. However, the Board believes that they illustrate the strategic importance of Flybe to UK regional connectivity." Surely one of those will materialise....Stobart is the most likely following their concrete approach at (58p?) and their partnership with FLYB? At 10 May STO had Net Assets of £406 million; Net Current Assets of £60 million. Mcap £806 million today, cf FLYB £32 million...small change for a possible shares based takeover...? AIMHO as usual...
takeover target for equipment and landing rights??
Think you should dyor...BHD handles plenty of E-jets & A320 etc. Issue is the length of the runway to enable access to further European destinations, which is why O’Leary fell out with them. Agree, not looking good for the share price this morning and Stobart will now simply sit on the sidelines and sweep up assets at firesale prices. COW & Laffin should be matched out of the business for their failures in securing a takeover deal a few short months ago. It’s clear investors have zero confidence in the useless woman.
I'd say it's more likely... Given the price... They can get cheap shares and put takeover offer in at say... 30p... Hmmm..
Enthusiastic shorters, one would think they had forgotten this spiked to 48p in Feb/March with talk of a takeover from Stobart, which is precisely the sort of thing that could pitch up again at any time... OK, so it's not likely specifically today...
Sadly, I tend to agree. It’s definitely time up for CoW. Yet another false dawn for Flybe investors. Now looking as if a takeover is the only resolution. Fuel price hikes may be the main issue. Hedging structure not conclusive enough. Same issue for most airlines but some will be more negatively affected than others. Flybe just doesn’t have the right fleet or headcount size to work. Costs far too high in this business
Share price down nearly 25% in last few weeks and the CEO remains completely silent. Really thinking she hasn’t the ability nor experience necessary (as I predicted on appointment) to move this company forward. Standby for an exit and yet more reward for failure a la Hammad with a year’s salary pay off. IT project AGAIN overpriced and late. Company needs completely restructuring and head and fleet count culled. Takeover can’t come too soon!
There’s no “legal rightâ€￾ but an integrity driven board and one with a clear message should undoubtedly communicate with its investors. The company is ripe for takeover however with considerable effort required to downsize headcount and fleet size needed, the board may be in self protection mode
It really is now time CoW showed what she’s made of and how she can justify the pay packet. Two years is almost up and the company hasn’t moved forward. Any CEO worth his / her salt would have taken an axe to costs long before now...under CoW they’ve actually increased. The business is not justifiable in its current state and needs radical restructuring. Two years is long enough and I don’t think she has what it takes & it’s time for new thinking. Board changes across the whole range of directors is needed...that or an agreed merger or takeover
1. Oil Price rising 2. No evidence of other costs under control 3. Receding hope of takeover 4. Website still sh1te
Dangersimpson, no offer was made. Stobart were considering one, as announced on 22.2.18. and that ceased on 22.3.18. again detailed in an RNS. In this circumstance it’s section 2.8 of the Takeover Code that applies and bars any further discussion for six, not twelve, months. If there had been a bid it would be twelve months.Hope this is clear
Never seen awards for Future Chief Officer before. He isn’t even in charge until October, although starts shadowing Farajallah this month. Wonder if they expect takeover bid post AGM/H1 update in mid September and when Stobarts lock out period ends? Presume the awards vest in event of takeover immediately.....
Would like to see the performance terms under which the shares will be awarded, to be judged by his own colleagues on the remuneration committee. This company has a very poor track record for over-awarding equity to directors who subsequently bring very little to the game. Given the timescales announced, I’d err on the opinion that they’ll never be vested, as I don’t believe the company will be a standalone business in 3 years time, let alone 5. Ripe for takeover / merger into a larger organisation to achieve the necessary economies of scale
And we still haven't got to the levels available during the Stobart takeover bid yet. Bit early to jump in imho
I'd say it was worth a small punt in takeover or recovery. Company seems in relatively ok shape and has lots of potential. Anything can happen
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