Smith (ds) Share Discussion Threads

[cruelladeville] 02/3/2024 12:40

What to make of the 25 RNSs released Friday afternoon by both Mondi and DS Smith? Looks to me like just about all the major institutional investors have sold their holding in SMDS? I am not experienced in scenarios like this. What do the more experienced shareholders here think about all those RNSs? If there's no bid, Mondi would dump those shares into the market and SMDS share price would be back to 280p or lower before you know it.

[elsa7878] 02/3/2024 12:21

I would think around 375-400.

[moorsie2] 02/3/2024 11:21

First value approach was never going to be accepted and would be relatively low ball.

2nd tabled valuation closes the gap to the sellers valuation.

The fact they are still negotiating means that they both see the need of a deal and are trying to find the win win place. My guess is it's about 425

[jeffian] 02/3/2024 11:17

#4388,
We haven't seen the first one yet!

Seems a bit of an odd (non- ?) story as presumably the announcement of talks means that they are in negotiation and jousting between the relative worths of each company. The two Boards either do reach agreement on terms (in which case they announce an agreed merger) or they don't, at which point the putative acquirer, Mondi, has to decide whether to walk away or table a contested bid for shareholders to decide on. Surely all one can say at this time is that they are "in negotiation" rather than any "bids" have been received.

[cruelladeville] 02/3/2024 09:46

Hmmm. Tempted to put in a limit sell order for half my shares to see if I can capture a healthy bounce in share price Monday morning. Then sit and wait to see what happens.

[moorsie2] 02/3/2024 09:22

Often in these scenarios it's a 3rd offer that closes the gap.

I take it positive that the discussions are ongoing after a first and second rejection.

More like 65/35 now in favour of a deal being done..

[laurence llewelyn binliner] 02/3/2024 09:08

We will soon see where their 2nd bid takes us.. :o)

[moorsie2] 01/3/2024 21:56

Mondi Plc has increased its preliminary takeover offer for rival DS Smith Plc as it seeks to create one of the world’s largest packaging companies, people with knowledge of the matter said.

Mondi improved its indicative all-stock proposal several days ago, the people said, asking not to be identified because the information is private. DS Smith still sees that bid as inadequate, the people said.

Deliberations are ongoing, and there’s no certainty they will result in a transaction. Representatives for Mondi and DS Smith declined to comment.

[moorsie2] 01/3/2024 20:55

Bloomberg breaking news, of an increased offer

[cruelladeville] 01/3/2024 16:50

An interesting opening on Monday?

[elsa7878] 01/3/2024 16:47

BINGO.

IF THEY HAVE BOUGHT OR SOLD ANY SHARES IN DS SMITH THEY REPORT IT BOTH TO DS SMITH AND TO MONDI.
LIKEWISE IF THEY HAVE BOUGHT OR SOLD ANY SHARES IN MONDI THEY REPORT IT TO MONDI AND TO DS SMITH.

[cruelladeville] 01/3/2024 16:45

And the same shedload of RNSs by Mondi.

[cruelladeville] 01/3/2024 16:43

And Quilter, Blackrock, JPMorgan..... uncle Tom Cobley......

[elsa7878] 01/3/2024 16:42

(c) Name of offeror/offeree in relation to whose relevant securities this form relates:
Use a separate form for each offeror/offeree

Smith (DS) plc


f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
If it is a cash offer or possible cash offer, state "N/A"

Yes - Mondi plc

[elsa7878] 01/3/2024 16:41

Please read my amended post. Mondi PLC is stated on the form as they are the name of the potential acquirer of DS Smith and the reporting company also notifies them of the change in their (the investor's) shareholding.

It's pretty clear if you read it.

[cruelladeville] 01/3/2024 16:37

Section F in the RNS. Mondi PLC?

[cruelladeville] 01/3/2024 16:36

That would be my thinking. Why else would Mondi buy shares in a competitor company if they weren't going to bid?

[laurence llewelyn binliner] 01/3/2024 16:30

Mondi accumulating can only add to the strength of their position and intention to move forward with an improved offer..?, however IIRC the take over code 8.3 is a disclosure to the interested party of what you own in that company so they know what you have got in case they want to move forward with an bid..

A TR1 is the disclosure of a buy/sale trade <>3%..

[cruelladeville] 01/3/2024 16:21

Cripes. A shed load of RNSs. Too many to read!

[cruelladeville] 01/3/2024 16:17

Two interesting RNSs today. Legal and General have sold around 2% of DS Smith stock to Mondi? Good news in terms of a bid next week?

[alotto] 29/2/2024 21:55

Lack of news is not disappointing. They can't come out every week saying 'we are working on it'.

[cardinal3] 29/2/2024 21:04

Deals like this are tough to negotiate as a big issue to be hammered out is who takes the top jobs.

[jeffian] 28/2/2024 10:14

I think it is inevitable that these things take some time. Unlike a cash deal which is clear cut, merging two shares is an amorphous arrangement involving two continuously moving elements. I wouldn't be surprised if they don't ask to extend the deadline when it comes. In the meantime, as others say, it is not surprising that the share price will drift until all becomes clearer.

[sun1950] 28/2/2024 10:08

Yes lack of any news is disappointing even if they said talks were ongoing which I think is why the price is drifting lower looks like we will have to wait for next week