Provident Financial Takeover Rumours (PFG)

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Provident Financial Takeover Price

Provident Financial Takeover Forum Posts

Personally, I do not think there is a rational market in this company’s shares currently, you have Woodford who is desperately trying to raise cash for redemptions, and his get out for a reverse takeover by NSF went by the wayside, and you have Invesco and Marathon who both supported the bid now disgruntled shareholders. The falls here do not reflect the trading performance as recent statement suggests an improvement. But I m still in the dark, director buying can not simply be a way of reassuring investors, it has little effect in that department these days, and why would they throw good money after bad! Someone wants to get out at any price, and that is most likely Woodford or Marathon, but a false market exists here!
I think that the market is basically going to force him to liquidate by punishing the stocks he holds, a false market is being created where he is involved. I have never understood why he felt the need to build up such substantial stakes in the companies he is invested in, but that is his way, likewise Invesco too, and I do believe it should be legislated by the FCA unless a takeover/merger is indicated. Woodford may not have broken the law, but his time is up!
extractfrom the FT. Investor redemptions are proving problematic for Mr Woodford as he has struggled to keep his fund below a regulatory imposed limit of 10 per cent invested in unlisted stocks. These illiquid assets are harder to sell than listed equities, forcing Mr Woodford to devise more creative ways to rebalance his portfolio, including listing some stakes in companies on the Guernsey stock exchange. The fund has also suffered strong underperformance and is down 8.25 per cent this month, far larger than the 2.5 per cent fall in the FTSE All-Share index. Several of the fund’s largest holdings have been hit in recent months. Shares in Provident Financial, the doorstep lender that is the fund’s fourth biggest holding, dropped 5 per cent on Wednesday after the UK competition regulator opened an inquiry into its hostile takeover by Non-Standard Finance. Mr Woodford also invests in NSF and has been pushing for the deal.
That Wally Woodford is behind the fall of the share price. Before the takeover started NSF and PFG were trading higher.
It's a legal way of robbing a company. I can fully understand why PFG are spending 19 plus millions to fight of this ridiculous takeover. It will be worth every penny if PFG can succeed in avoiding this ridiculous takeover.
What price are NSF offering per PFG share for takeover. It's very confusing. Not sure whether to sell up with a loss or stay in until dust settles. Any thoughts will be most appreciated.
They couldn't simply tell them to FRO as NSF had already received irrevocable assurances from more than 50% of shareholders that they supported the takeover prior to submitting the hostile bid. The fees are astronomical but necessary to fight off the bid, it's Woodford who is to blame for this.
In the times this morning The doorstep lender trying to fend off a £1.2 billion hostile takeover received a significant boost after one of its biggest shareholders spurned the bid and criticised investors backing the deal. Schroders, the third largest shareholder in Provident Financial with a 14.6 per cent stake, yesterday became the first investor to publicly reject an all-share offer from Non-Standard Finance, a smaller sub-prime lender. Its opposition means that Non-Standard Finance now cannot fulfil its target of securing the backing of investors owning at least 90 per cent of Provident’s shares, although it could lower its acceptance threshold.
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