M&c Saatchi Share Discussion Threads

[gargoyle2] 12/5/2022 21:43

Very little volume behind the fall. Could be marketmaker games, to shake out weak holders before a knockout 230p bid -- or maybe the bidder is looking to place its stake (if that's even allowed under takeover rules?).

[kipper7] 12/5/2022 17:56

No explanation for sudden price dropEither deal off or she selling her stake and taking the loss?

[indiestu] 12/5/2022 11:51

I guess they must have 'shut up' judging by the rapid savage price drop.

[kipper7] 10/5/2022 21:58

Why don't they just "shut up "and we can all move on

[igbertsponk] 10/5/2022 10:37

Love the title of the RNS - "Put up or shut up".

[kipper7] 10/5/2022 09:52

this deal won't happen with advt. share price too low and offer premium will never be high enough to management and major shareholders. shares back to levels prior to trading update. little downside imo from here

[stemis] 04/5/2022 13:04

I doubt she'd do anything hostile or anything that she believes harms her interests, but if she's not totally happy the way the company is being run (and that's kind of implicit in her bid) then the board's days could be numbered. The idea that Vin would just be told to sling her hook is pretty unlikely (although she might chose to go anyway depending on her strategy for the realisation of the 22%)...

[indiestu] 04/5/2022 12:20

It's a people business. It's successful due the people and the culture that they operate in. It seems that the board and employees don't want the takeover. If the takeover is hostile and therefore the 22% shareholder is hostile then the chances of continued success are limited. Nobody wins. There were a lot of cheeky takeover offers during the pandemic years some succeeded this one hasn't. Fair value is always reflected in the share price, eventually. If Vin makes a decent profit on her average buy price she will be happy. A cynic may even proffer that the whole episode has been orchestrated.

[stemis] 04/5/2022 09:44

Obviously he board of SAA are having to tread carefully over this. If the bid fails then they will be left with an 'effective' 22% shareholder that will have significant influence over the board. Whatever happens with Advt, the future of the company won't then be entirely in the boards hands...

[indiestu] 29/4/2022 07:05

I see why this has dragged on so long now. They wanted to stall until results were published to prove the offer on the table was materially undervaluing the company.

[kipper7] 28/4/2022 15:50

What a bore!It's obvious that a bid involving advt paper at 78p is never going to do the job. It's also noticeable that they have now said may 10th and not a month like previouslyWe are in the final stages now

[x54v] 27/4/2022 09:42

Quite possible yes.

Given the amount of time taken though, you'd think that they must be close to a deal. Otherwise why keep the discussions ongoing for such a long time.

[nakedtraitor] 27/4/2022 09:27

Further extension to Put Up or Shut Up deadline tomorrow?

[x54v] 20/4/2022 18:02

Since she has £40 million of her own on the line between the two companies I would imagine that ownership of both holdings in a similar ratio to Vin Murria would be a reasonable strategy.

[cousin jack] 20/4/2022 17:10

Hedging is not straightforward if part of any deal is SAA shareholders accepting some new ADVT shares. Both sets of shareholders ( particularly Vin !) would be impacted by the fall in the ADVT share price.

[x54v] 20/4/2022 11:03

One other point worth making is that if you think a deal is likely and that the ADVT share price will dip in the short term, then you can always hedge with a purchase of SAA shares.

Vin Murria already has this covered personally with holdings in both companies. Any short term drop in her ADVT shares should be covered by the rise in her SAA shares.

In fact she has a larger SAA holding so should gain overall in the short term from a successful bid.

[cousin jack] 20/4/2022 10:49

Interesting thoughts x54v & kfr20 - thanks. Let's hope we hear something concrete one way or the other in a few days time.

[kfr20] 20/4/2022 10:05

I'm sure they can thrash out a deal.

[kfr20] 20/4/2022 10:04

I'd be surprised if these ongoing talks came to nothing.

[x54v] 20/4/2022 09:29

With regards the bid succeeding, you would think that there has got to be a reasonable chance given how long the discussions have taken.

That's over 3 months now. A long time to be continuing talks if there is no hope at all.

Vin Murria must be particularly keen I'd imagine given that she has £40 million of her personal net worth tied up in the two companies and has spent over a year now at ADVT trying to acquire a target.

[x54v] 20/4/2022 09:18

Cousin Jack - a lot depends on your time horizon.

If the bid succeeds, then short term ADVT may go down if it places to raise cash or offers a higher ratio of ADVT shares per SAA shares. But long term there could be substantial gains to be had if Vin Murria does what she has done previously.

If the bid fails, then in the short term ADVT could do anything but has 78.9p in cash plus the value of SAA shares to support its share price. In the long term, once again there could be substantial gains to be had if Vin Murria chooses to continue to pursue her strategy.

[kfr20] 20/4/2022 09:12

As an ADVT holder I am reassured by her proven track record. This may likely take some time to play out. Anyway, my holding is in an isa so I'm quite content to stick with it and I look forward to seeing how the story develops.