Revolution Bars Share Discussion Threads

[boonkoh] 24/8/2017 09:46

Don't read too much into "significant" mentioned by Deltic. That's just spin from their PR team to get investors not to back Stonegate deal. Until Deltic tables a firm offer they can walk away. But the fact that they've sunk in some time and money for due diligence is encouraging that they're a serious bidder. Deltic really don't have much time as they need to put together an all cash offer quickly to have any chance of being the favoured offer. I see a scenario where Stonegate are now going around to all the big holders and sweetening the pot to get committed votes. We might see an announcement within the week of maybe 210p or 215p with 40-60% acceptances.

[tinker49] 24/8/2017 09:36

I can't see it happening. Recent Deltic results were not great and they haven't been able to float themselves. They could potentially use this as a reverse takeover and float themselves I suppose. I managed to sell at 208.5 and very happy.....although had I bought into the IPO at 200 I wouldn't be particularly happy.

[spot1034] 24/8/2017 09:34

If Deltic do it all well and good, but if not could there be another major operator prepared to join in just to force Stonegate to come back with a more realistic offer? Presumably the other big players in the sector wouldn't want to see a rival take control of an asset like this too cheaply.

They must all be watching this and doing the sums.

[twistednik] 24/8/2017 09:24

Hmmm, looking a bit more into Deltic and their balance sheet / corp structure, I'm not sure that they can raise the equity / debt to make a cash offer.

If they could easily and they think RBG is that undervalued, wouldn't they have a competing proposal lined up by now!? They really have had months to prepare a counter offer.

In my mind this is reflected in the share price which is trading only slightly above the bid price. Will probably reduce my hold later today.

[joe say] 24/8/2017 08:53

So where were Deltec when the share price was around £1.20 ?

Usual drivel being spouted

[toyin] 24/8/2017 08:38

mmc71

Agree, this has a long way to go. Deltic will offer cash and then structure how they want afterwards. I like how they say "Deltic continues to believe that this offer significantly undervalues Revolution" significantly being the operative word.

All the best

[geheimnis2] 24/8/2017 08:31

Is 3 quid possible in a bidding war?

Just a thought?

[qs99] 24/8/2017 08:24

Reckon strategic assets like this don't come around too often so reckon it may go for up to £2.60 or more let's see DYOR

[mmc71] 24/8/2017 08:10

Was going to sell, but Deltic saying that may make a cash offer after saying that 203p significantly undervalues RBG is good reason to keep holding. But they must make an offer before the 203p is put to the vote otherwise they are just up to dirty tricks.

The questions are a) what does significantly mean? 20p, 40p ??? and b) can they raise the cash to make such an offer?

[martinikenny] 24/8/2017 07:42

203p is too cheap but many people/intos have bought in the selloff and will be keen to cash in profits. If there was not economic worries about consumer spending/credit then 203p would not be entertained.

[martinikenny] 24/8/2017 07:39

Deltic reply to Stonegate with RNS, they may make a cash offer.
I think Stonegate would get a great deal for them at 203p.

[qs99] 24/8/2017 07:35

Let the bidding war commence IMO! DYOR!

[spot1034] 24/8/2017 07:35

I wonder if a competitor might think the price too cheap to let Stonegate get away with.

[kazoom] 23/8/2017 22:32

A clickable link to the story :



Personally I sold out at 190, so losing out on that last 13p.

Of course there is still the hurdle of getting acceptance from the remainder of the shareholders to complete the transaction.

[qs99] 23/8/2017 21:59

Will it flush out anyone else though? Hope so but not hopefull!

[geheimnis2] 23/8/2017 21:50

There ya go folks - 203p

hxxp://news.sky.com/story/amp/slug-and-lettuce-owner-stonegate-toasts-100m-revolution-11002405

Pretty good!

[geheimnis2] 21/8/2017 19:29

I preferred Phil's Human League stuff

[turbocharge] 21/8/2017 19:22

Phil Oakley's analyses suggests if Stonegate buys RB for £100m (@ £2), a 10% profit margin on Revolution’s bars would give it a trading profits of around £13m (13% ROI). Might there be accusations of RB being sold off too cheaply? Buying RB at £130m (@ £2.50) still gives Stonegate a 10% pre-tax ROI.

[crumppot] 21/8/2017 16:53

I think you are spot on. Perhaps that is why the gap is closing is closing between the market price and Stonegate's offer.

[tinker49] 21/8/2017 15:04

I am not sure who would make a better offer. MAB operate a lot of brands but are busy sorting them out and have enough issues of their own. Whilst selling at 200p might not seem palatable as they floated at 200p the reality is that the environment for on trade businesses is different now than it was then. Food and drink inflation combined with other cost pressures are causing average operators issues and good operators problems. The institutions might welcome the opportunity to get out at 200p rather than have 3 or 4 years getting back to that price. Maybe the best we can hope for is the board negotiate for a little extra.

[crumppot] 21/8/2017 14:26

So who else other than Stonegate might make an offer?

I am holding on for the ride!