Ti Fluid Systems Share Discussion Threads

[hericsaba] 13/12/2024 14:27

It's up to you. It will slowly go higher (~1p/month), so can hold for a few months for 3.5% extra. If you know better place for your money you can sell it anytime - happy days!

[tratante] 13/12/2024 12:26

Do we reckon that any competing bid would have emerged by now? Wondering when to sell here, rather than waiting for the ABC bid to come to fruition.

[reddirish] 29/11/2024 15:45

I think the price may move up by a penny or so over the next week as the traders are bought out, taking their profits, and then drift slowly towards the agreed price through to the early summer. So I too will sell shortly and reallocate the money. But that 4% on the table may be of interest to a few big funds, and ABC's broker may buy some on their behalf too. Very unlikely that there will be a second bid, but that can happen - especially as a due diligence exercise has given TIFS an all clear. I think it's worth holding on for a week or so for the first to settle and see if anyone else does pop up.

[andplus] 29/11/2024 14:47

Do we reckon 4 months to complete, an average 1% pcm? Perhaps better to sell now and get some Christmas sorted with the profits

[reddirish] 29/11/2024 10:53

I've read through the documentation, and think it very unlikely there would be any competition issues getting in the way of this. The deal is scheduled to complete 'within the first half of 2025', so the 200p offer (including any dividend payable during the period) suggests a 4% uplift for holding for 6 months-ish, with a low level of risk. The price is unlikely to move much above the current level of 192 in the near future, maybe a penny or so.

[buoycat] 29/11/2024 09:26

I have accumulated just over £10k of shares over the last 3 and a half years. I calculate my 'profit' at £150. Disappointed.

[reddirish] 29/11/2024 08:30

Both relieved, but also a tad disappointed: another plc taken out for a relatively low price.

[hericsaba] 29/11/2024 07:33

Amen! Thanks to everyone.

[frankiethecabbie] 28/11/2024 12:41

Bloomberg) -- ABC Technologies Holdings Inc. is nearing an agreement to buy British manufacturer TI Fluid Systems Plc for roughly £1 billion ($1.3 billion), according to people familiar with the offer.ABC, which is backed by alternative investment firm Apollo Global Management Inc., and TI Fluid are likely to announce a recommended offer before a UK takeover deadline on Friday, said the people, who asked not to be identified because discussions are private.Last month ABC increased its offer for TI Fluid to 200 pence per share, valuing the company at about £992 million, after previous proposals were rejected. TI Fluid at the time said that it confirmed to ABC that should a firm offer be made, it would be "minded to recommend it to shareholders."TI Fluid then extended the deadline for a firm offer to Nov. 22, before adding another week until Nov. 29 to give ABC time finalize talks, conduct due diligence and secure financing. Those issues have been addressed, paving the way for an agreed deal, the people said.Shares of TI Fluid have gained 16% this year, giving the Oxford, England-based company a market value of about £888 million. Representatives for Apollo and TI Fluid declined to comment, while a spokesperson for ABC declined to comment.TI Fluid makes thermal and fluid systems solutions for vehicles and has a presence in 27 countries, its website shows. Private equity firm Bain Capital is the largest shareholder and has been selling down its stake on the market, including at 135 pence a share in March.

[tanners] 28/11/2024 11:38

No insider trading to see here......!

[hericsaba] 28/11/2024 11:16

Around 190p. Announcement is coming!?

[tanners] 26/11/2024 11:21

reddirish - indeed, similar perplexity here, though I did sell half a few days back just in case!

[reddirish] 22/11/2024 10:26

So the offer of 200p per share is still indicated, and the suggestion from ABC is that due diligence has not thrown up any red flags, but they want one more week to finalise financing and 'other matters'. ABC is backed by private equity, so I'm a bit perplexed why financing arrangements would not already have been made ready. What might the 'other matters' entail? I'm still holding in the expectation of a 10% gain in one week; but confess to some nervousness. It's just that I cannot work out a scenario for why, if they really didn't intend to complete, they would not have walked away now. And so I hold on....

[andplus] 21/11/2024 15:42

Burn and crash... or fly fly fly. A bit unserious from ABC if they decide to give an answer at the eleven hour

[hericsaba] 14/11/2024 14:01

Lots of smoke, something burning?!

[andplus] 14/11/2024 13:28

It's getting hot in here

[hericsaba] 14/11/2024 13:18

Nice moving on the share price today, hopefully this will be a done deal in the next week! Good luck

[reddirish] 12/11/2024 15:59

I'm in agreement, and Trump's threats of tarrifs will make the Canadian bidder all the more keen on a strategic acquisition, allowing both geographic / sector cross selling, and a bit of operations rationalisation/ cost saving. (I worked for a while in corporate M&A...). As you say, only a big black mark in the due diligence process would get in the way.

[easybrent] 11/11/2024 12:22

When the talks to acquire TI started the auto market was already in really bad shape, I doubt that comes as any news for the buyer. From their perspective I think buying in the downturn is a excellent strategy given that their investment horizon is 5-10 years. I think the only risk is that the buyer finds soemthing in the DD that they dont like. Otherwise than that I think its very likely that the deal will go ahead.

[frankiethecabbie] 08/11/2024 20:15

I would imagine an awful lot of work has been done preparing a 2-00 takeover and they would be reluctant to walk away now.

[elsa7878] 08/11/2024 15:26

Hard to call. They clearly want it and I gather the fit is excellent in terms of product and geography.

Question is does the strategic sense overcome the weak auto market outlook and increasing bond yields (financing costs).

At 170 the price says 50/50 - 30p upside and downside....

[easybrent] 08/11/2024 10:01

With only a 2 week extension it looks like increasingly likely that the deal will get done.

[frankiethecabbie] 08/11/2024 07:40

Looks that way , at least they haven't backed out . (Yet)

[hericsaba] 08/11/2024 07:10

So we have to wait 2 more weeks...

[hericsaba] 07/11/2024 16:26

Tomorrow is the day: 20% up or 20% down...