Horizon Discovery Share Discussion Threads

[gnnmartin] 27/11/2020 19:43

I don't follow the fine detail of these 2.9 & 8.3 disclosures. I assume to begin with the buyers hoped for a bid, but again, I assume that is looking unlikely. However, there is still the hope for those buying in that they will upset the scheme of arrangement. The danger is that if the scheme is upset, Horizon & Perkin Elmer will call it all off: I think that is unlikely. The hope is that that Horizon & Perkin will sweeten the terms by (say) 10% in an effort to get it through.

I intend to do nothing, and see what happens. The market price is higher than the scheme price, but not by all that much, and you will get the offer price (lower than the market price), and you will pay broker's fees.

[bouleversee] 25/11/2020 17:00

Yes, I understand that. I meant I was dithering over whether to sell them now rather than wait for the deal to go through at a lower price than I could get now, assuming it does go through. I see the share price was 200 first thing this a.m., now 191.

Investigate issues these reports daily; this is today's, which shows a larger number than yesterday's. What exactly does this mean? That HZD have issued more shares or they have bought more? If they had enough unconditional support to secure the vote, surely they wouldn't need to do the latter, would they? Why is anyone they prepared to pay more now than they will get (or have to pay out) when the deal completes? I'd expect the share price to be lower than the t/o price if it's a done deal. Is there another bidder in the wings or is there a chance that the deal won't go through? Have they already got sufficient committed acceptances, in which case why does the share price keep going up? Or is it shorters having to buy back at a high price? All very confusing.

Edit: I left out the report:

"In accordance with Rule 2.9 of the City Code on Takeovers and Mergers, Horizon confirms that, on 25 November 2020 (the date of this announcement), it has 158,310,476 ordinary shares of £0.01 each in issue and admitted to trading on AIM. The International Securities Identification Number ("ISIN") for the Company's ordinary shares is GB00BK8FL363."

[gnnmartin] 25/11/2020 16:03

I assume it is not a question of accepting or not. If the vote is 75% in favour, you get cash for your shares, if the vote is less than that, the scheme fails and is either abandoned or they modify it and try again.

[bouleversee] 20/11/2020 16:45

I'm still dithering. I was aware of the Crispr connection and was surprised that they were selling at a significantly lower price than it had been some time ago. However, the board have presented it as a done deal, rather suggesting that shareholders will be glad of the opportunity to exit. Can't help thinking there is more to this than meets the eye.

[srichardson8] 20/11/2020 16:05

probably yes

[bouleversee] 20/11/2020 15:28

So are you going to hold till the deal goes through, one way or another?

[bouleversee] 20/11/2020 11:43

I'm still holding and debating what to do. I don't know whatto make of s.p
movements. Numis seems to be trading in HZD but who are they selling to?

[wilmot666] 20/11/2020 09:01

What is story here? Counter bid expected? Anyone else still holding/interested?

[thewheeliedealer] 10/11/2020 16:03

Hi all,

My mate Peter @Conkers3 and myself did a ‘Twin Petes Investing’ Podcast a few days ago and part of our discussion includes HZD and how we deal with Takeover situations. We also chatted about loads of other Stocks and Ideas for research with a particular slant on potential Takeover Targets, and the outlook for Markets and as usual a fair bit of educational stuff with regards to Investing.

Anyway, if you use Apple, Audioboom, Overcast or Spotify you can find it under the 'Conkers Corner' Channel (you want Podcast TPI 35) and you can find it on Soundcloud at the link below.

I hope you enjoy it and find it useful,

Cheers, WD
@wheeliedealer

[bouleversee] 08/11/2020 18:47

If it's a done deal, why did the share price shoot up to 192 at the very last minute before close on Friday? Who is buying and why?

[wilmot666] 04/11/2020 10:44

Looks like the market expects a counter bid?

[carpingtris] 03/11/2020 15:40

sold out at 187.5p.. break-evens for me.. but glad to now be out... now to find something else to invest in.. preferably not AIM listed.

Now watch as you get another bidder, lol, that'd just be my luck!

[ny boy] 02/11/2020 23:43

STX another bid target

[bouleversee] 02/11/2020 15:29

How did you manage to add at 91p yesterday, rambutan2?

[rambutan2] 02/11/2020 15:21

So, only Inclusive has thrown its hat (20%) in with the offer so far. And they were in need of an exit due to the changes in remit etc. If HZD really does own IP etc of strategic value, then there is a good chance someone else will counter the offer imho.

[rambutan2] 02/11/2020 15:15

Can't resist!

rambutan Oct '20 - 02:54 - 1428 of 1448

A US listing is in (rather slow) progress.

I added a few yesterday at 91p, as I suspect this will appear cheap before too long.

[bouleversee] 02/11/2020 14:22

So is it shorters who drove the price down to what was a ridiculously low level, assuming there are no nasty skeletons hidden in the cupboard? That would explain the small premium.

[wilmot666] 02/11/2020 13:56

There are some large trades going through above the 185p bid price. Could it be shorts closing? If not then it seems strange as I agree it looks a done deal.

[bouleversee] 02/11/2020 12:44

The Stig -

The premium is only l.5p above the offer price but one does wonder why there is any premium at all with what appears to be a done deal.

[bouleversee] 02/11/2020 12:24

I misssed the announcement re Lombard Odier buying at 90p. If I'd ssen that I'd have put in a bit more. Too bad.

[the stigologist] 02/11/2020 12:07

there are loads of hedge funds who trade special sits/merger arbs so if this trades at a premium must be some hope ABC or a.n.other come in ?

[bouleversee] 02/11/2020 11:56

Thanks. It's certainly better than the awful loss I was showing before today but I can't say I am happy about it. Slightly unpleasant smell in my nostrils; maybe reverse anosmia. Probably need some gene editing.

[srichardson8] 02/11/2020 11:02

Personally I shall be glad to get out of this one with a reasonably clean bill of health after a fairly torrid share retreat. I think this reflected disappointing execution on what looked like a decent strategy. Given the high volatility in markets in general, and continuing uncertainty, my only query is whether I sell in the market and possibly diversify my currency exposure, or simply wait, see, but expect nothing further on what appears to me to be a done deal. But above all I am pleased to have an exit door fully opened.