Rpc Share Discussion Threads

[whatsyourgame] 19/1/2019 03:02

True enough spot1034 and as I understand the takeover rules, any new bidder who was to emerge would be entitled to the same information as RPC has already provided to Apollo so that they were not unfairly disadvantaged. In such circumstances, a new bid entrant doesn't appear all that unlikely, especially as they would be armed with the offer figure which the BOD had agreed was acceptable. For this reason, I won't be rushing to sell my shares in the market should Apollo finally make an offer.

[squidsgone] 18/1/2019 22:04

Actually, I have, and still am, so if it's all the same to you, I won't thanks

[phillis] 18/1/2019 22:01

squidsgone
you have obviously never been involved in such situations
The intermedaries are running the show - take it from me

[squidsgone] 18/1/2019 20:57

Oh, and good spot there, Spot. Always the potential

[squidsgone] 18/1/2019 20:56

Whatsyougame .... then why would it be recommended?

[spot1034] 18/1/2019 20:43

In the event of a low offer I suppose there is still the chance of another bidder coming in. With both the share price and sterling so weak there could be an overseas buyer who sees an opportunity too good to let pass by. No point in showing your hand before now, especially as there were two potential bidders until a few weeks ago.

[whatsyourgame] 18/1/2019 20:39

Assuming Apollo finally come up with a BOD-supported offer by next Wednesday, the continuing weakness in the share price strongly suggests that this is not going to be overly generous.

My own guess is that it will be pitched between 15%-20% above this afternoon's closing price of 725p, i.e. between 833p - 870p. Surely any lower figure is unlikely to result in the required level of acceptances.

[squidsgone] 18/1/2019 20:35

Then why would the BoD suggest that is a good deal for shareholders? They cannot delver more than that without a selling?? Their reputations would be shot.

[whatsyourgame] 18/1/2019 20:27

Assuming Apollo finally come up with a BOD-supported offer by next Wednesday, the continuing weakness in the share price strongly suggests that this is not going to be overly generous.

My own guess is that it will be pitched between 15%-20% above this afternoon's closing price of 725p, i.e. between 833p - 870p. Surely any lower figure is unlikely to result in the required level of acceptances.

[gettingrichslow] 18/1/2019 20:18

900p bid soon.

[squidsgone] 18/1/2019 19:39

Ok, to be clearer, merely intermediaries within parameters set by BoD - that do not make any decisions.

[bouleversee] 18/1/2019 19:36

That should be choice. Am no good on tablets.

[bouleversee] 18/1/2019 19:35

Will they have any coice?

[gabsterx] 18/1/2019 19:34

What happens once an offer is made? Do we the shareholders get to vote on whether we accept it or not?

[budgiekevin] 18/1/2019 19:03

Phillis is right, the highly paid advisors know what they are doing having been round the block many times. The BOD will be very inexperienced in selling a Company in comparison. At this point in time I am optimistic an offer will materialise next week and my guess is a good number of shareholders will be willing to accept it

[squidsgone] 18/1/2019 18:24

I doubt it Phillis, they are merely intermediaries

[phillis] 18/1/2019 18:12

In situations like this the advisors are in total control and they manage all the communications

[squidsgone] 18/1/2019 17:57

.... in which case I expect them to capitulate, leaving what as a selling price??

[squidsgone] 18/1/2019 17:47

However, closing in on the deal seems to confirm II's aren't sufficiently convinced to change their stance .... or maybe, they do 'miraculously' see the value proposition now and are holding out for Apollo paying appropriately.

[dr_smith] 18/1/2019 17:28

They likely thought they were going to conclude today and that's why there was no extension anouncement this morning. Assumming talks are at RPC HO, or possibly a neutral location, with senior staff a long way from home, there is a good chance they will slog it out over the weekend, so perhaps an anouncement Monday morning.. or Tuesday after communicationg with other key figures in office hours.
zzzzzzzz

[jeffian] 18/1/2019 16:57

It is a bit of a farce but the fact that the extension is so short suggests that we are close to the end game. I would guess it's going to the wire on price - a rather desperate 'seller' and a sole remaining bidder - so any offer is likely to be at the lower end of expectations and the minimum the Board would be able to recommend IMHO.

re: #2586, my experience is that UK agreed bids are invariably announced at 7am when the RNS opens. It is just too risky to do anything else and certainly not tell staff or anyone else before it is announced to the market. Yes, there definitely are rules about that.

[bouleversee] 18/1/2019 16:45

If they are required to do something by a deadline, why aren't the rules applied? They are utterly meaningless since it would appear they haven't declared a firm intention to make an offer, let alone made one. I hope, if they do, it won't be anything like today's closing price.

[spot1034] 18/1/2019 16:37

Are there any rules about notifying employees which complicate things if it's the middle of a trading day? I'm just wondering if they might want to get staff together for meetings before the news is made public, but they can't risk market sensitive information becoming widely known even a minute or two before an RNS is released so better to do it out of hours.

[phillis] 18/1/2019 16:32

Two scenarios
- still fine tuning the price with the NEDS
- or still dotting the Is and crossing the Ts of the banking facilities