Maybe similar story for CBG. |
For what it's worth I have bought into VANQ.
If the car finance thing turns out OK they will recover. |
And for what it’s worth guys I have in my radar TTG, the horribly oversold RNO group and a recovery situation SFR. I still think there will be consolidation in the small fund management sector too. As ever DYOR 👍 |
Thank you KINWAH, nice of you to mention the names. |
Many thanks for the names George, I will DMOR on these. Hope to see you again soon on another chat group. |
RWI was always likely to go after AUG and BIFF. In my takeover portfolio I have ESNT, JMAT, and OXIG. Quite often you have to put up with seemingly endless poor share price performance then bang you get a 40% uplift. ZIG could be a target too for its Spanish operations. It's also encouraging that the CMA is being de-fanged by this government to try and kickstart growth. It's cost me a fortune in the past by blocking bids which were obviously good for customers and staff. A more lenient CMA might even allow a UK bank to acquire Santander's UK operations and cut staff numbers but keep more high street branches open as a result. |
Well done all - and in particular thank you George for all of your insights over the years on Renewi. I am a happy camper today - a three bagger for me. Hopefully the proceeds will find similar positive outcomes! |
long road indeed! HEIT LN (Harmony) is about to announce that they are selling themselves as per their various previous RNS, but most of the takeover premium has been baked in
elsewhere in the property space SHED LN is long waited to be absorbed by LMP likely at a good premium, but these externally managed trust boards can be really stubborn and time wasting. |
It’s been a long road, I will miss you guys, we went through many highs and lows together 😁 where is the next Renewi? Answers on a postcard please ! |
I couldn't blame you dplewis1, but it might be worth taking the minimal risk wait, as Greg suggests, for a possible second suitor to appear.
18p = 2%. If a 3 month wait it's 8% APR, so still attractive compared to money on deposit, or bonds. |
I was hoping for a >£9 bid. I will hold for a while, because as far as I can see this stock is a sure winner from here. Supported by the bid price. |
You've got to have sympathy though for anyone who panicked sub £8 this morning. |
YEEESSSSSS !!!! |
There is the announcement :) |
technically they can. it's until 5pm UK |
Am I alone in thinking that the offer will be announced after the market closes.? |
Nerves are fraying… |
Market reaction suggests chance of back out increased - Leaky?? |
In the last extension request they mention:
On 22 January 2025, Macquarie confirmed to Renewi that confirmatory due diligence is substantially complete and in order to allow for the finalisation of internal approval processes and definitive transaction documentation, Macquarie has requested, and the Board of Renewi and the Takeover Panel have consented to, a further extension of the PUSU Deadline.
This "in order to allow for the finalisation of internal approval processes and definitive transaction documentation" reads to me as a bureaucratic issue within the various Macquarie internal executive committees and admin teams to prep the scheme documents etc
Doesn't look like a reason to back out, but you never know |
Macquarie have done 4 takeover bids on RWI, they've been doing due diligence since last November, they mention DD is substantially complete, it it board recommended and they increased the irrevocable undertakings. The UK dodgy contracts are gone and ATM is up running.
Not sure why Macquarie are leaving it to the last minute, unless they found a dodgy ie Belgian municipal contract but again unsure what significant difference would it make to overall business case |
Such impatience... |
Chances of another extension seem high |
Have they literally forgotten that the deadline is today?? Technically they still have time until 5pm UK |
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