Menzies(john) Share Discussion Threads

[buffettjnr] 17/2/2022 15:22

Marstons was a painful lesson in not accepting bids when they are offered to boards of directors. I hope Menzies doesn't make the same mistake.

[milliecusto] 17/2/2022 15:16

Expect this to be finalised quickly with a final offer soon, Nas not messing about, good further 10% to be had

[buffettjnr] 17/2/2022 13:27

Lol in 18 months? Enjoy the wait. This has doubled in 4 weeks. It’s time to bid farewell

[kaffee] 17/2/2022 13:14

Let them blink first... we'll be at this price under our own steam in 18 months anyway.

Petro dollars to spare eh ? Come on then, show us the money

[sikhthetech] 17/2/2022 13:11

I thought 600p bid so it's good to see the offer now 605p.

NAS are buying and just need a few more IIs onboard. Given where they were only a few days ago, I think more will come onboard. After all IIs exist to make money for their clients.

It's natural for the BoD to think they are worth more but the risk is NAS can still walk away.

It's normal for offer documents to include the premium on where the share price was. It's not to upset anyone.

[kaffee] 17/2/2022 13:06

I dislike these chancers the more I read:

"....Once again we urge the Menzies board to engage with us so that we can put our compelling and deliverable offer to shareholders and secure Menzies' future in a highly uncertain environment."

Can't be that uncertain if you have chased the price 109% ! Clowns.

[vanduke] 17/2/2022 13:05

Bought this gem at average price of £1.05 in 2020.End game near

[mammyoko] 17/2/2022 13:03

BoD have implied they think it's worth around £9.60 per share. Obviously, it's most likely that they are just saying that to get the price up. But it's always possible, as they are in possession of information not available to us, that they genuinely believe it's worth a lot more than is being offered. They seem in no hurry to even engage at these levels. Short-haul business is growing, they've won new contracts in Latam and they've increased margins. NAS are a much smaller outfit and need MNZS much more than the reverse. I could see this going higher. Even if the BoD's forecast of £101.7m EBITDA is out by £10m, a price of, say, £7.50 would still only imply an EBITDA multiple of 9x - lower even than PE have historically paid in this sector

[cornishman33] 17/2/2022 12:51

'Following discussions with a number of Menzies' shareholders, NAS announces that Agility Strategies Holding Limited, an entity under common control with and acting in concert with NAS, has today entered into contracts to purchase 12,133,893 ordinary shares in Menzies, representing approximately 13.2% of the issued share capital of Menzies, at a price of 605 pence per share.

Consequently, any firm offer for Menzies in accordance with Rule 2.7 of the Code, if made, will be at a price of not less than 605 pence per share'.
If NAS walk away now it will be very costly for them.

[hamhamham1] 17/2/2022 11:46

DrB. I hear you 're upcoming pharma, but am willing to put a small punt on STX, they got approval and seems good, but hey WTFDIK.
Here looks good, hard to tell what else out there which is cheap is really cheap, this year will test the metal of the best of stock pickers I reckon.

You must remember Nobby from IMM?
We overlap on a couple of shares, STX and MIN, the latter makes me sound like a right chances, but just a but of profits put to work.
That's me done for talking my book, apols to all.

[nigelpm] 17/2/2022 11:37

that's more sensible - they'll engage now

[dr biotech] 17/2/2022 11:30

They may have verbal agreements with other holders too, if the road show has finished.


—
I have a science/pharma background and was very much into biotech when I started. Thought my knowledge would help but it only made me fall in love with various companies and I lost a packet. Still follow some companies (may recall I was very dubious about IMM) but I don’t get serious about it. With STX it looks like selling their drug will be a long, hard and ultimately disappointing slog. But I’ve not looked closely and my general investment record is mixed at best.

[bartyb] 17/2/2022 11:14

They must be hoovering at 582 at the moment

[melody9999] 17/2/2022 11:05

I note that the RNS says 'entered ito contracts to purchase'. That does not mean they have purchased them - could the contract have a get out clause to say if MNZS do not engage then the contracts will not be executed.

What it is saying is that 13.2% of MNZS shareholders are happy to sell at 605p.

605p is a big hike from 510p which indicates NAS appetite. It also seems unlikely they will walk away now. If I was MNZS I would come to the table but continue to play hard ball. I would be thinking there is more to come....but probably not a lot more .... NAS will argue that MNZS shareholders are prepared to sell at 605p

[sailorsam1] 17/2/2022 11:04

Did you short it then?

[hamhamham1] 17/2/2022 11:02

Dr Biotech,
With your name, what are your thoughts on Shield Therapeutics, STX, I got a few of those, albeit am down 20% currently.
Seems a good product, low side effects, easy to take, etc?

[milliecusto] 17/2/2022 11:00

Someone wants us to sell, wonder why

[milliecusto] 17/2/2022 10:59

605 is not the final price, Max I would expect is 650p

[hamhamham1] 17/2/2022 10:46

Nice, will wait for the extra 5%, woohoo :)

[sundance 13] 17/2/2022 10:38

Well they've moved by a quid in less than 4 days so I certainly think a further increase is likely, especially given the stake they've taken now.

[grity] 17/2/2022 10:34

Consequently, any firm offer for Menzies in accordance with Rule 2.7 of the Code, if made, will be at a price of not less than 605 pence per share.

Not less than £6.05 so we will get more ;-)

[sundance 13] 17/2/2022 10:29

Agreed. By taking that stake they're pretty much committed to this now. The downside risk of them walking away and in the process the price dropping back to 300-350p has now reduced considerably IMO.610p minimum now, I'm surprised actually the price isn't closer to that level than it already is. Luckily i didn't sell any so still stuck with full original stake.

[kaffee] 17/2/2022 10:28

Cheating barstewards prepared to pay that out of the market. Stiff 'em for every penny is my view now