Petrofac Takeover Rumours (PFC)

Only way Petroc come out as survival is to gain big PROFITABLE contract wins. Othewise it is uninvestable on all counts. May be extension for another month. I have lost all hope of any takeover at reasonable price

Q3 end Sept PM304 sold $60m+JSD6000 10% value $20M+Algeria 1.5bn delayed :)Upper Zakum Adnoc 60bn pipelineTenet PG agreed must be due another one every six months Ayman good bye did not sound like a thank you for making my 100M+ worthless and 3 decades founding the business Imo due diligence takeover , DD on going until asset soldAdnoc favourite imo or Schlumberger , PE GL

John Wood plummeted 37%, after suitor Sidara rules out making formal takeover offer. The Aberdeen, Scotland-based engineering services company explained that the decision is "in light of rising geopolitical risks and financial market uncertainty at this time." In June, John Wood had received a fourth possible takeover proposal from Sidara last week worth 230 pence per share. Sidara had steadily increased its bid proposal after making an initial approach worth 205p per share which John Wood disclosed in early May.

Asfari is giving way for takeover.

As a bondholder, I'd love you to be right Armbar. But a takeover won't happen, for one any continued future losses on legacy contracts is very difficult to quantify - no company would take that risk, certainly pre-restructure. The only 'takeover' would be asset stripping in administration. Disclosure - have traded bonds from 20-25, and bought back at 19.

Armbar is quite right, there are always other options. Someone might look at the company's current £70m market cap, £462m net debt, and the £6.34bn (US$8.1bn) order book and conclude there is an opportunity here. Oil services remains an attractive market as evidenced by the Wood Group takeover, particularly when involved in transition to renewables. Potential profit margin of 15% on the order book could generate c £950m, more than enough to eliminate debt.

JN , you do make me smile . What you omit is the word currently, at that moment in time, huge difference between only and currently only Since - timeline extended , price action seems to suggest something imo to me Asfari founder and co not sold ? 30% Where are those 60M+ shares shorted , who has them? If PFC have had any early exploratory discussions , hardly going to announce , rules are quite clear as per the city takeover code , hence currently , logically will not be the only sole fixed permanent option. You seem to occasionally miss, infer or be quite selective on wording , you done the same with our bonds conversation which was more variable than stated. Anyway let us see how this unfolds , situation in my opinion is more fluid that ONLY. GL

I am just stating that it is not explicitly the only option , that is factually incorrect Indicated Yes Only option No They could have a successful restructure , or a D4E, Asset sale or a divestment impact , Takeover , liquidation or Bankruptcy, Strategic Partnership as examples

Petrofac has not explicitly stated that D4E is the ONLY option , pfc indicated that discussions with lenders involve a significant proportion of debt being swapped for equity as per RNSSo whilst we wait there are always other potential outcomes Takeover being one , JV another , other financial structures, appreciate D4E currently is headlining. IMO Adnoc seem to be aligned with PFC, Halliburton and Schlumberger for some time have had interest in PFC PFC now have a little more time to work out where we go Asfari and co 30% no reported sale of share holding , why ? Where are those 10% of declared short shares , not with retail imo ?So we await until advised

There is no takeover, the company has already explicitly told shareholders that the *ONLY* solution is the debt for equity swap *AND*, if that fails, then it will be insolvency.

I am seeing all talks about takeover but no concrete offers. If there is anything on table MM would have opened it 40p +.

Jeez, that's a brave allocation I own this one at 62p unfortunately, having thought a year ago it might be a takeover targetOh well, I've done worse....TBLD and ECOB for example....and just eeking out a positive return on the portfolio overall.GLA, it's weird times out there. Think my gilts & bonds will continue to do well for some time. Risk assets could still go a bit higher overall as well to make new highs before a much needed correction, perhaps later this year or next

Hostile takeover expected... hahaha deluded. Once the balance sheet has been repaired(post massive D4E) then sure, quite possibly will be a takeover. But shareholders prior to D4E will get wiped out.

Expecting takeover news shortly - hostile takeover - picked up another 30,000 today. Excited for this week. GLA my average now less than 20p

Crikey, there are some people on LSE who have talked themselves in the likely outcome being a takeover. Who would takeover Pfc when the legacy contract losses are still unknown!!!!!

seagreen, "Or takeover (No position before you start)" FFS, if you read that first paragraph "The Financial Restructure discussed below is currently the only option to secure the future operations of the Group and active discussions are ongoing. The realistic alternative to the Financial Restructure is insolvency." [my bold] And still think that a takeover offer for the shares is a likely option then you're living on planet La La. JakNife

Or takeover (No position before you start)

Down 19.5% to 19p Reality setting in once again after the takeover bullshit induced surge?

Https://thefinancialanalyst.net/2024/06/07/petrofac-shares-surge-amidst-takeover-rumours/

https://thefinancialanalyst.net/2024/06/07/petrofac-shares-surge-amidst-takeover-rumours/Interesting

Armbar But only 7 days ago PFC stated that equity holders faced insolvency or a very dilutive D4E. Anyone buying today must expect a takeover at > 30p? Clearly PFC would have to inform the market of such a change!!!

seagreen The Kepler note I cited this morning was REDUCE with no price target. The headline was 'The next two weeks will be key' meaning to PFC's survival!!! They then list the risks that could tip PFC into insolvency. They say the restructuring must add over $500m positive equity. ie it's going to be eye wateringly dilutive. No broker has a Buy recommendation and none have a current PT because they can't guess just bad the D4E will be. All your quotes are historic. There will be no takeover. Read the accounts. Things are desperate. Any buyer will cut out equity and deal directly with debtholders.

Takeover incoming at 150p...