Telit Communications Share Discussion Threads

[fillipe] 26/11/2020 11:55

Holdings....



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[fillipe] 26/11/2020 11:39

TCM buys ... looks as though 206p is being paid for TCM with enthusiasm.
A lot of trades today.

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[owenga] 26/11/2020 09:39

Ticking up nicely.

[stephen uptrend] 25/11/2020 15:22

Just bought in

I smell news ...

A higher offer ???

[chess123] 25/11/2020 14:09

I also bought in again yesterday, I believe the board will accept the U-BLOX offer , and the shareholders will end up with more not less than the 250p , just my opinion , had my fingers crossed that a new bidder would enter the fray but nothing, hoping the share price can breach the 200p as there is massive resistance there, once and if we get above 200p next stop 218p

[owenga] 25/11/2020 13:01

Seems like an opportunity to me. I added yesterday at 192p. There will be more offers made.

[ascov] 25/11/2020 13:01

Here's what the Stockopedia blog said last Friday. Which should explain your conundrum. As a separate issue i find the Stockopedia blog worth every penny.
200ish is reasonably good for most, but it needs a bigger player offering Cash not illiquid shares to go higher.

Telit Communications (LON:TCM)
198p (up 18%) - mkt cap £264m

Takeover approaches - I reported here on 3 Nov 2020 that Telit told us it had 2 possible takeover approaches, from DBAY Advisors Ltd, and a tiny NASDAQ company called Lantronix, proposing an all share reverse takeover, which didn’t look at all appealing.

It’s smoked out another potential bidder, called u-blox Holding AG, a company listed in Switzerland. Unfortunately it’s another unsatisfactory all-share proposed deal. Why would UK investors want to own shares in a small Swiss tech company?

received a preliminary proposal from u-blox Holding AG, ("u-blox") regarding a possible all-share merger (the "Proposal").

Under the terms of the Proposal, Telit shareholders would receive u-blox shares with a value of £2.50 per Telit share, which would result in Telit shareholders owning approximately 53% in the combined company (based on the assumptions in the Proposal).
Telit's share price is only up to 198p today, because 250p in some (probably illiquid) overseas share, is not appealing at all. If that deal goes ahead, it would probably lead to unending selling pressure, from UK investors wanting to exit.

[canigou2] 25/11/2020 12:12

What am I missing in this valuation gap? Doesn't make sense.

An all share offer is on the table at 250p, which is increasing with u-blox's ascending share price, now presently 251.5p. But TCM is valued by the market at 196p. Is this an opportunity or is something amiss?

[chess123] 25/11/2020 08:34

U-BLOX share price is flying up 8% so far, now regained the losses after the announcement about telit takeover approach.

[timmy11] 24/11/2020 20:17

Telit Communications makes components needed for smart devices and internet of things (IoT) devices to connect to networks, and provides platforms for them to operate on. Telit’s strategy is focused on the evolution of products and devices in a world of faster connectivity and creating the next generation of modules, routers, gateways and other products and services that are needed to run them.

Its existing position in 4G and other technologies makes it a natural partner for many looking to make 5G-enabled devices, and the fact 5G will lead to more smart devices entering the market should only boost demand for Telit’s products and services

[chess123] 24/11/2020 11:34

Beergut, Agreed u blox had fallen about 7% on the day they announced there bid for Telit , now back up sharply, seems market happy with the price they have offered can't understand the Drop but feel as I stated that MMs trying to get PIs to take fright and sell, still showing support level at 197p should become more obvious which direction share price will go as we head into the afternoon, was expecting the share price to rebound by midday but hasn't happened.

[beergut] 24/11/2020 11:20

U-Blox share price has rebounded and is holding up well since they announced the offer.

[chess123] 24/11/2020 08:58

Hold tight to your shares, the big boys trying to flush out weak holders, shake the tree, nothing new since
friday, when the share price was at 203p, the price fall is unjustified, but would also say nothing wrong with banking a profit, I think the u blox deal will go through, great offer and I'm sure Rothschild will be getting it sorted ,probably see an Rns Friday. hopefully not to many PIs get spooked. looking at share price on L2 showing 197p so should see a rise back to that level.

[chess123] 23/11/2020 08:50

Chinese bidder could be flushed out GLA.

[sbb1x] 23/11/2020 08:48

Finally the scum take us to 201.Dirty mm scum.

[sbb1x] 23/11/2020 08:29

Patience chaps.Still got a dirty shorter to close here.Bidding war starting....

[sbb1x] 23/11/2020 08:01

Should be closer to 250!

[owenga] 22/11/2020 21:21

Can you paste times report here please.

[ascov] 22/11/2020 18:53

Unfortunately the bids are from small fry offering paper instead of cash, which is probably why the market rates it at 200 not 250. Lets hope it smokes out some more serious bidders with deeper pockets.

[brendainvesta] 21/11/2020 14:38

Times online or times on tree?

[techno20] 21/11/2020 12:00

Long piece in today’s Times. Just detailing multiple interest.

[brendainvesta] 21/11/2020 09:20

Sbn1x, you think it should be 225/230 minimum, you may be right on Monday, the weekend papers investment pages tend to print the greatest movers and losers so Telit will be put in the public eye.

[timmy11] 21/11/2020 08:25

For immediate release

20 November 2020

STATEMENT REGARDING TELIT COMMUNICATIONS PLC ("Telit")

u-blox Holding AG ("u-blox") notes the recent press speculation and confirms it submitted to the Board of Directors of Telit a non-binding all-share offer valuing Telit at GBP GBP2.50 per share (the "Possible Offer"). There can be no certainty that any transaction will ultimately be forthcoming.

Whilst discussions are at an early stage and remain subject to due diligence, the Board of u-blox believes that such a combination has a strong strategic rationale and could result in substantial synergies for both organisations.

Pursuant to Rule 2.5 of the Code, u-blox reserves the right to:

(i) introduce other forms of consideration and/or to vary the form and/or mix of the consideration described in this announcement; and

(ii) make an offer on less favourable terms:
a. with the recommendation or consent of the Board of Telit;
b. if Telit announces, declares or pays any dividend or any other distribution to shareholders, in which case u-blox will have the right to make an equivalent reduction to the proposed price;

c. if a third party announces a firm intention to make an offer for Telit on less favourable terms than the Possible Offer; or

d. following the announcement by Telit of a whitewash transaction pursuant to the Code.
In accordance with Rule 2.6(a) of the Code, u-blox is required, by no later than 5.00 pm (London time) on 18 December 2020, to announce a firm intention to make an offer for Telit in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline can be extended with the consent of the Panel in accordance with Rule 2.6(c) of the Code.

In accordance with Rule 2.9 of the Code, u-blox confirms that it has 7,114,839 ordinary shares in issue. The ISIN reference for these securities is CH0033361673.

[sbb1x] 20/11/2020 15:55

This should be 225/230 minimum.

[sbb1x] 20/11/2020 13:42

Let the bidding war commence