Smart Metering Systems Share Discussion Threads

[1jat] 12/1/2024 16:40

Will KKR blink this weekend and return with a higher offer on Monday?

[bulltradept] 05/1/2024 09:04

Thank you.

[1jat] 05/1/2024 08:57

Yes, the deal is now 955p….but the Board is delaying the vote from 9 to 22 Jan.
Apparently the SH need more time to consider the merits of the deal (read not enough acceptances).
Whether a new price will emerge next week that can be accepted on 22nd is to be seen.

The market does not expect a bidding war….but maybe KKR can justify £10. (Interest rates are falling after all).

I sold half at 960 when the deal was first announced…..will vote against and either get a higher offer on my remaining holding or be able to buy back at a lower price if the deal fails.

[bulltradept] 05/1/2024 08:17

Ah so to have got the divi you'd have had to be a holer yesterday, is that correct please?

[andy mack] 29/12/2023 07:59

Thanks for cluing me in. I always thought these were seriously undervalued. I work in the electrical industry and have noticed them becoming a bigger name and seeing their name a lot more often.

[1c3479z] 26/12/2023 22:07

ergo, ins, emis, sureserve, ghe, cpc, abcam,dx,rol, nmr(aquis) ,mgp all taken over or being bid for this year,
AIM is withering away, needs new blood, getting harder to find decent prospects. Guess it's too expensive and taxing on management time to remain listed, too much regulation and managers have to give a running commentary on their business's prospects which may not be to their competitive advantage, discourages longer-term initiatives and they get fed up with constant pressure from analysts for updates. In the case of ergo, a limited/absent ability to raise new capital, in the light of the present squeeze on funding, to take the business to the next level was the reason given for accepting an offer, apart from the allure for the main shareholder of taking the offer while it was tabled, which left him with a life-changing windfall.

[sleepy] 26/12/2023 19:36

Thanks 1jat. Which was the taken over company with the large founder shareholder please?

[1jat] 26/12/2023 11:32

This is the fourth takeover in my portfolio of the others there were no counter offers and one got a bump, two did not. The one that got a bump had a large (10-15%) founder shareholder that was no longer involved in the business…..sounds familiar.

I sold 50% of my holding at 959 as I was only expecting 920-930 ahead of the meeting to approve the deal. I am thinking of buying it back in the hope of a bump in the offer to get these dissidents over the line.

[1c3479z] 22/12/2023 12:19

Mach 100

Times today suggests it's 'bumpitrage' and a risky game the two of them are playing.

[mach100] 22/12/2023 11:49

Doubt it 1c asit would be high risk stakes. Obviously feel the company is being sold for a 🎵 song.lets hope a revised offer or bidder comes up. Think the divi makes it a comfort if the deal falls through.

[1c3479z] 21/12/2023 20:10

are they flying a kite in saying they'll reject the bid to try to get a marginal increase or a third party involved?

[mach100] 21/12/2023 07:35

Been a takeover bid Andy at 955p plus the next divi. However in a surprise to me part of the management are going to reject it as 'disappointing '. Wouldn't mind s higher offer. ;)

[feddie] 08/12/2023 09:32

The price is reflecting the 955p cash offer + 8.32p dividend (to be paid 24 Jan), minus the time value of the expected final settlement date probably at the end of 1Q2024.

[george stobbart] 07/12/2023 19:43

So we are all in agreement that Renewi RWI is the one to go private next following the failed takeover bid by Macquarie last month?

[baldguvnor54] 07/12/2023 19:22

This is one M&A deal that didn't leak in the press- given the lack of any regulatory clearances required this should close pretty quickly- very hard to see a counter bidder getting their act together given Christmas and the timetable for the court . Excellent business, good management, sold too cheaply in my view, but see the deal going through. Soon there will be no decent companies listed (just cr*p like CAB)

[1jat] 07/12/2023 17:35

The price is a little higher than I would expect but there should be little competition review so the deal should be done in a couple of months time.
Unless there is a counter then being paid part of the premium is attractive now (esp if paying higher rate tax on it)

[feddie] 07/12/2023 14:22

The price action does not seem to be reflecting a counterbid

[mr george stobbart] 07/12/2023 13:43

Is the chatter re Equitix counterbidding for SMS true or fugazi?

[traderglt] 07/12/2023 10:09

Take a look at YU. Or maybe W7L

[feddie] 07/12/2023 09:40

Great business that was seriously undervalued as we can see it now there, in writing. Great to have been a shareholder. Difficult to find a replacement for my portfolio.

[prokartace] 07/12/2023 09:23

I love this. Tks for the early Xmas present!

[1jat] 07/12/2023 08:13

955p + next dividend seems fair…..a few years ago I was expected more like 10-1100p but with higher interest rates and this being a cash hungry asset rich business the market has not valued it near those levels.

Happy enough…but I do have concerned that Private Equity is not a good thing for us all collectively….better to see the people running businesses explaining to the market rather than doing deals in back rooms amongst other PE owners.

[twin tip] 07/12/2023 07:43

Finally a bit of good news :)

[blackhorse23] 29/9/2023 12:33

Bought some GATC

[1jat] 20/9/2023 15:57

Perhaps more suited to private equity rather than public listing.
There are plenty of assets to be harvested….