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Share Name Share Symbol Market Type Share ISIN Share Description
RPC Group LSE:RPC London Ordinary Share GB0007197378 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.40p +0.05% 795.00p 794.80p 795.00p 797.20p 794.00p 795.00p 3,741,928 16:29:56
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Industrials 3,747.7 316.6 61.6 12.9 3,241.21

RPC Group Share Discussion Threads

Showing 3076 to 3100 of 3100 messages
Chat Pages: 124  123  122  121  120  119  118  117  116  115  114  113  Older
DateSubjectAuthorDiscuss
14/2/2019
18:38
Yes, I saw that. That's why I raised it. Apollo are always referred to as a shareholder in Berry.
jeffian
14/2/2019
17:36
The Vanguard Group, Inc. …................. 8.71 Canyon Capital Advisors LLC .......…..... 6.65 Luminus Management LLC ..…............. 4.95 Viking Global Investors LP …................ 4.23 TIAA-CREF Investment Manag'mt .…..... 3.94 BlackRock Fund Advisors …................. 3.94 Eminence Capital LP …,,,,,,,.,,,,,,,,....... 3.67 Massachusetts Financial Services ....... 3.18 Turtle Creek Asset Management …...... 3.18 AllianceBernstein LP …,,,,,,,,,,,,,,,........ 2.65 Total ...................45.10
redartbmud
14/2/2019
16:56
On the Berry Global shareholders issue Eminence holds 3.65%. Apollo does not appear anywhere I can see, apart from trawling SC 13 filings, so must be below the lowest large shareholder whose holding is 2.91%.
sogoesit
13/2/2019
18:49
Eminence has now sold all its shares – an aggregate total of 2,422,370 controlled shares (7%) on the LSE and will now be unable to comply with its letter of intent. Confirmed by RPC yesterday.IMO that should really stuff Apollo.
billywhizz1
13/2/2019
15:56
Fair enough Jeffian, although as you point out, I did say "in my view", as we still have the 'if applicable bit', but I'll check that out. Anyway we'll leave it at that.
billywhizz1
13/2/2019
15:22
is berry still in with a chance of a better offer anyone?
ali47fish
13/2/2019
15:20
Assuming we've flogged that particular horse to death, can we change tack? Does anyone know what Apollo's current holding in Berry is? Back in 2014, after substantial sales, they still had over 20% although I can't see them on the major shareholders' register now, but I believe they are still shareholders. Their pals Eminence appear to own nearly 4% of Berry. In those circumstances, isn't it all a bit incestuous? What's to stop Apollo/Eminence applying pressure on Berry not to bid?
jeffian
13/2/2019
14:51
billy, You were the one that once took me to task for not qualifying statements with "IMO" and you've been making stuff up ever since! Whatever your "own view" might be, the answers are all there in the documents and Code if only you would care to look. This from the original Offer - "The Bidder reserves the right to elect (with the consent of the Panel and subject to the terms of the Co-operation Agreement) to implement the acquisition of the RPC Shares by way of a Takeover Offer as an alternative to the Scheme. In such an event, the Takeover Offer will be implemented on the same terms so far as applicable, as those which would apply to the Scheme..."
jeffian
13/2/2019
14:50
Billywhizz Grandma may not be au fait with all the technical terms (still on a learning curve) but it's comforting to know that although my memory is in serious decline, maybe I haven't quite lost all my marbles just yet. Anytime soon, alas!
bouleversee
13/2/2019
14:38
bouleversee. At last.......They didn't bung that clause for nowt!
billywhizz1
13/2/2019
14:31
Jeffian, my own view is that their final offer statement is ring fenced to be in compliance with the specified conditions of the Court Sanctioned Scheme only! If the T/O panel sanction the T/O route, previously and clearly stated in Apollo's offer, then this final offer commitment would no longer apply and the normal 'open bid market' would apply. What d'ya think ?
billywhizz1
13/2/2019
14:16
This is the wording: "It is intended that the Acquisition will be effected by means of a Court-sanctioned scheme of arrangement of RPC pursuant to Part 26 of the Companies Act 2006, further details of which are contained in the full text of this Announcement and which will be set out in the Scheme Document. However, the Bidder reserves the right (in accordance with the terms of the Co-operation Agreement) to implement the Acquisition by way of a Takeover Offer (with the consent of the Panel" It does sound like a let-out clause which would enable them to convert a Scheme of Arrangement where they have declared their offer is final into a takeover offer where the sky is the limit so long as the Panel consents. And why would the Panel not consent if another bidder made a higher offer? Surely the interests of shareholders should be paramount.
bouleversee
13/2/2019
14:15
It is all academic, until Berry bids.
redartbmud
13/2/2019
14:13
billy, I didn't answer it because it isn't particularly relevant. Changing from a Court-sanctioned Scheme of Arrangement to a Takeover Offer does not change anything I have already said. The terms, including the "final and will not be increased" bit, remain the same and are still subject to the Code. All changing from a Scheme of Arrangement to a TO would do is lower the bar for Apollo and give them options. If they go down the Scheme route and fail to get a bare majority, that's the end of it, they lose. If they switch to a TO, they can decide whether to press on and declare the offer unconditional at any stage. It's a technicality and it doesn't get round the problem that they have committed themselves absolutely not to increase their offer.
jeffian
13/2/2019
14:03
By the way, the t/o code is a 'Code of Practice' which means that it is a guide which is subject to adjudication by the T/O panel under the umbrella of a court's jurisdiction. Remember a lot of leeway exists in the interim period between the offer date and the time expiry date.
billywhizz1
13/2/2019
13:55
It is all academic, until Berry bids.
redartbmud
13/2/2019
13:40
Of course the take-over code is important.However I have twice posted extracts directly from Apollo's offer terms which clearly set out Apollo's RESERVED RIGHTS. Please read Apollo's Offer terms and my two related posts, it might help you know!
billywhizz1
13/2/2019
08:49
Jeffian. Yes, that is my experience, and now you mention it, I do feel bold on it, it is a repeated experience over many years. I state my reasons/sources, so leave it for others to take own balance. "The code" is not the be all and end all. Rules and codes are broken all the time. I won't go on, I'll shut up and go away, annoying folks was not my intention.
dr_smith
13/2/2019
08:34
Always read the small print!
phillis
13/2/2019
08:20
Dave, you don't need to read "all the small print", just the relatively short extract I have already posted, highlighting the relevant parts for you! If someone else wants to trawl through the whole Takeover Code and find something which contrasts with my understanding, I will happily defer to them. However, not reading or understanding the Code doesn't seem to stop you making some pretty bold statements, which may result in you misleading yourself and others. You say "IME, in most areas of law, agreements can be varied if consented to by all interested parties (well that's questionable),, so if apollo want offer more, BOD and s/h say yes, who is going to stop them.....". Answer: The Takeover Panel. That's what it's there for!
jeffian
13/2/2019
08:01
Jeffian. Not reading all small print - Guilty..and by selling I thought it would be save my eyesight in having to weave through the smoke! ;-) Listen to you. Yes. Most definitely yes. Awareness of what should and does happen - especially when money talks - the world is your oyster. Cynism dominates unfortunately. ;-)
dr_smith
12/2/2019
23:19
Oh dear. I find myself getting repetitive but clearly nobody here can be bothered to read the Takeover Code or take in what I have been saying. The Apollo offer was absolute and unconditional - "The Bidder's offer is final and the Consideration will not be increased." The "final" bid for Lavendon contained the all-important condition at the outset that it reserved the right to increase if a competitor came along - "TVH confirms that the Offer is final and the Cash Consideration will not be increased, except that TVH reserves the right to increase the amount of the Cash Consideration if there is an announcement on or after the date hereof of an offer or a possible offer for Lavendon by a third party offeror or potential offeror." As some have said, yes, it is possible that the Takeover Panel could be approached and asked for a waiver in this case but the rules, which I have already posted twice, say that the TP would only do so "in wholly exceptional circumstances". I'm not sure making a low-ball offer and then finding yourself pipped at the post fits that description, but we shall have to see what evolves.
jeffian
12/2/2019
21:12
Well done Dave, that was exactly the one I was thinking about but could not recall. Was in Lavendon, they had a Final Offer of 205p, another bidder entered the fray and it finished going for 270p. So over 30% increase from first bid. Now that we nice here!
boy john
12/2/2019
20:52
Eureka - looked for this before and couldn't find it. Subject of "are final bids" final. hTTps://www.vertikal.net/en/news/story/27097/ Read the attached link. It is Loxam and TVH bidding for Lavendon. Note in particular: "This battle is now quickly moving towards a climax. TVH stated at the beginning that its offer of £2.05 a share was final, now it faces the difficult decision of whether to go to £2.60 or more or drop out of the bidding. While TVH has a total aversion to paying over the odds for anything, it probably hates to lose even more - so anything is possible. At this stage it is probably looking at a profit of around £9 million on the shares it has already acquired - although it will also be facing some substantial adviser fees. " Also the rns for Apollo and RPC had: "The Scheme will be governed by English law and will be subject to the jurisdiction of the courts of England. The Scheme will be subject to the applicable requirements of the Takeover Code, the Panel, the Listing Rules, the London Stock Exchange and the UKLA." IME, in most areas of law, agreements can be varied if consented to by all interested parties, so if apollo want offer more, BOD and s/h say yes, who is going to stop them, there is nothing illegal or bad about it, just contrary to what they said earlier - so...make your own mind up - and where people stand to make money, it is the proverbial oil to make wheels turn. I have sold already, so sharing above in community spirit. Didn't share earlier because I couldn't find it, but did air my thoughts at the time. :-) Dave
dr_smith
12/2/2019
20:35
It'll be three weeks tomorrow since Apollo announced their bid, so presumably their offer document has to be published by next Tuesday at the latest. Just looking at the original statement again, I have to say I thought it was a bit of a cheek to include the dividend in their calculation of how much of an increase for shareholders the offer represented. It was irrelevant - the dividend was not brought forward or enhanced beyond the small increment which would have been expected anyway, and it was payable regardless of whether the deal went through. It was nothing to do with the offer!
spot1034
Chat Pages: 124  123  122  121  120  119  118  117  116  115  114  113  Older
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