Skyepharma Share Discussion Threads

[soundbuy] 18/3/2016 10:55

No doubt........

[txi] 18/3/2016 10:41

I suspect the newly formed merged company will be a juicy takeover target within a year!

[diesel] 18/3/2016 10:16

After some thought , I will probably reduce my holding here, I think most of the big gains have now happened but I will hold a stake as I believe that this now represents a solid investment case and possible divvy paying company in years to come. The combined group will likely be a ftse 250 company.

[debbie_does_dallas_twice] 17/3/2016 11:44

No Sten.
We are actually trading under the effective offer price by 18p right now.
It is all dependent on the VEC share price, the offer is 2.29 VEC shares per 1 SKP share.
The offer is not a pre determined set actual figure.
So the offer price actually moves in line with the Vec price, save the arb!
With vec at 159p times that by 2.79 and you have the effective offer price. (159x2.79) is 443p-so this is what the offer is worth at this time.
So consequently we are now dependent on the movement on VEC with the regards our share-price movement.
Vec today is up 4% , we are still nearly 18p off the true offer conversion price at the moment

[stentorian] 17/3/2016 11:34

SoundBuy,

It means that the market believes that 410.5p is not enough for VEC to buy SKP. As the SKP share price hit 430p plus today, the market believes that an interloper will appear and pay a price that is nearer to what SKP is actually worth. It would also suggest that it would need to be someone with some cash rather than offering all shares and appropriating SKP's cash!

[a0148009] 17/3/2016 10:33

Obviously the best way investing in Vec is taking advantage of the discount and buy SKP the agreed merger will only fall through if there is a counter bid
very unlikely but you never know after those terrific figures yesterday.

AO

[soundbuy] 17/3/2016 10:06

So what does this mean when our current shareprice is higher than the offer?

????

Simply dependent on VEC's share price now, minus a tad in case of blah blah, always a little arb opt until a done deal....

[square1] 17/3/2016 09:53

Actually still trading at a discount to terms- based on VEC price we would be 442

[aceuk] 17/3/2016 09:34

You can get more in the market ;-)

[mastermatto] 17/3/2016 09:28

So what does this mean when our current shareprice is higher than the offer?

[cap160] 17/3/2016 09:04

Has anyone seen the timetable for the proposed merger?

[debbie_does_dallas_twice] 17/3/2016 08:21

Well the share offer of a new vec share x 2.79 puts us at 436p with vec trading at 156p, we are way behind the curve here. On those results alone yesterday we would be trading higher than this.

[kfp] 16/3/2016 23:37

"After the merger, Vectura's chief executive, James Ward-Lilley, will take the top job, while Skyepharma's finance director, Andrew Derodra, will be chief financial officer of the enlarged group. Vectura's current chairman, Bruno Angelici, will stay on as chairman of the new company. Andrew Oakley, Vectura's finance director, and Peter Granta, Skyepharma's boss, will leave."Looks like SKP has really become part of Vectura.

[fhmktg] 16/3/2016 16:16

Offer price is only where we were at beginning of 2016- looks a cheap deal to me!
Bring on a fresh offer!

[martincc] 16/3/2016 14:39

Sudden takeoff with SKP and VEC is in auction

[soundbuy] 16/3/2016 14:38

Somebody hasn't read the script.....

[debbie_does_dallas_twice] 16/3/2016 12:16

VEC starting to move now.

[gnnmartin] 16/3/2016 12:06

I hope so. I too will be disappointed if merger goes ahead as proposed.

[soundbuy] 16/3/2016 11:56

Could read the response as VEC are going to have to pay more....

[debbie_does_dallas_twice] 16/3/2016 11:47

really VEC shares should be motoring ahead, they sealed an unbelievable deal here!
Maybe delayed reaction once it sinks in, who knows?
at the mo the deal values skp stock at circa 416p with VEC currently trading at 149p.
I believe at the very least SKP should be up with events and if not trading at a small premium expecting further interest. I can not believe VEC will walk away with SKP on these terms.

[debbie_does_dallas_twice] 16/3/2016 11:16

alexchry/ Well to be honest i think SKP products are already proved up and generating huge relatively safe incomes.
i believe (until today)that skp was one of the safest bets on the market with its predictable growth story income, now at least short term our share price will depend on the movement of VEC, which i must admit i dont particularity care for!
I think we will see action in the next month or so.
Not being blunt, i think we are far too attractive for Vec to walk away with us on the cheap.
Save the token 70 mill , they are basically using paper to get our cash pile (41 mil) and our revenue to fund their products development.If you take our cash pile out of the deal that they are using almost all paper.
I as a skp holder don't feel overjoyed moving from low risk to higher risk at zero premium!

[soundbuy] 16/3/2016 11:14

Confrence call @11am??

[alexchry] 16/3/2016 11:11

Debbie, perhaps SKP being in play explains why SKP trading values are much higher than Vectura's.