Ti Fluid Systems Share Discussion Threads

[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...

[reddirish] 06/11/2024 07:11

Friday, I believe (Nov 8th)

[andplus] 05/11/2024 16:51

Any news on the ABC offer?

[frankiethecabbie] 01/11/2024 08:37

Tuesday will be the announcement day alongside with the third quarter update .

[schofi2] 14/10/2024 11:03

Grossly undervalued IMHO, but would accept £2 for a quick profit.
Bought these in at around current price 2019 and sold six months later on a 50% profit.
Bought in again 2022 around £!.62 expecting it to eventually reach £2.70.

(Sharecast News) - TI Fluid Systems said on Monday that it would be "minded to recommend" an improved takeover proposal from ABC Technologies at 200p a share, should a firm offer be made.
TI Fluid has already rejected offers of 165p a share, 188p a share and 195p a share.

The latest proposal, made on 10 October, represents a premium of about 53.4% to the closing share price on 21 August, which was the last business day prior to ABC Technologies submitting its first proposal to the group.

TI Fluid said: "The company remains confident in its strategy. However, having considered the proposal and having consulted with its financial and legal advisers, the board has confirmed to ABC Technologies that, should a firm offer be made pursuant to Rule 2.7 of the Code on the same financial terms as the proposal, it would be minded to recommend it to shareholders."

In order for ABC Technologies to conclude due diligence and finalise financing, TI Fluid Systems has asked the Takeover Panel to extend the 'put up or shut up' deadline. As a result, ABC now has until 8 November to either announce a firm intention to make an offer for TI Fluid Systems or walk away.

"There can be no certainty that a firm offer will ultimately be made for TI Fluid Systems by ABC Technologies," the company said, adding that a further announcement will be made as and when appropriate.

At 1105 BST, the shares were up 19.5% at 181.92p.

Jefferies, which rates TI Fluid at 'buy', said the updated offer is now in line with what it sees as a minimum acceptable offer price.

The bank said last month that it saw 200-245p as a "sensible" offer range, valuing the company in line with EU peers at the bottom end, and in line with EU & US peers at the top end. It said this range would be largely unchanged at current valuations.

"However, while auto industry conditions for FY24F/FY25F have since deteriorated further, we do see 200p as still undervaluing the company, given TIFS' favourable margin, growth & free cash flow profile/outlook relative to peers," it added.

[andplus] 14/10/2024 08:29

Gotta wait until the official offer which has a deadline 8 November 2024 5pm, for now patience or top up for an extra 10% upside

[umik1] 14/10/2024 08:28

https://www.proactiveinvestors.co.uk/companies/news/1058223/ti-fluid-revs-up-after-accepting-fifth-bid-from-private-equity-backed-abc-technologies-1058223.html

[hericsaba] 14/10/2024 08:02

Looks a bit uncertain, as a 10% jump still in the price. Arbitragers and day traders paradise...

[frankiethecabbie] 14/10/2024 07:48

With Bain holding 28% I imagine a 200p would be approved after they sold a big percentage for 1-35 earlier this year.

[frankiethecabbie] 12/10/2024 20:54

I would certainly expect it to open at £2

[hericsaba] 12/10/2024 20:18

Can we expect 20 or 30% jump on Monday 8am? I hope so, as the board said 200p should be reasonable price...

[frankiethecabbie] 12/10/2024 18:41

I would imagine this offer will be accepted so happy days

[hericsaba] 12/10/2024 08:18

ABC, which is backed by the alternative investment firm Apollo Global Management Inc., made the fresh offer recently, the people said, asking not to be identified because discussions are private.The offer is higher than the 176 pence (230 cents) per share proposal that was rejected by TI Fluid's board last month, but the improved price couldn't be immediately learned. It remains to be seen whether it will be enough to win the backing of TI Fluid or have it extend the deadline for negotiations.TI Fluid makes thermal and fluid systems solutions for vehicles and has a presence in 26 countries. Private equity firm Bain Capital LP is the largest shareholder and has been selling down its stake on the market, including at 135 pence a share in March.A representative for TI Fluid declined to comment, while a spokesperson for ABC couldn't be immediately reached for comment.In accordance with UK takeover rules, ABC has until 5 p.m. London time on Oct. 12 to either make a new offer of walk away from a potential deal.Shares in TI Fluid closed broadly flat in London on Friday at 152.2 pence, giving the Oxford, UK-based company a market value of about £756 million. The stock has risen 24% over the last 12 months.

[frankiethecabbie] 12/10/2024 06:15

Bloomberg) -- ABC Technologies Holdings Inc. has increased its offer to buy UK automotive components supplier TI Fluid Systems Plc ahead of a looming takeover deadline, according to people familiar with the matter.

[frankiethecabbie] 04/10/2024 19:13

Big trading going on but no movement on the share price Maybe next week is the big mover .