Tritax Eurobox Share Discussion Threads

[williamcooper104] 01/7/2024 23:23

They can both easily afford it Brookfield likely to merge it with other euro logistic platforms so might be able harvest some synergies too

[spectoacc] 01/7/2024 20:33

True re HSV, but a much more complicated business. The rapidity of the "indicative proposals", since EBOX had received nothing from them just a month ago, implies they're nearly ready IMO.

(3rd June:
The Board of Tritax EuroBox plc....notes the announcement by Brookfield....that it is in the early stages of assessing a possible cash offer for the entire issued and to be issued share capital of Tritax EuroBox (the "Possible Offer").

The Board of Tritax EuroBox confirms that it has not received a proposal from Brookfield.")

[sevenccc] 01/7/2024 20:24

Brookfield took their time and extended with Homeserve last year too. They were also prepared to pay a reasonable price, though I had hoped for another 50p on the final £12 bid. Guess we always think our holdings are worth more or we wouldn't hold them.
Personally would think Brookfield probably have more firepower than Segro but maybe wouldn't realise the same synergies.

[spectoacc] 01/7/2024 20:02

I'd expect it to be all tied up this month. Brookfield have already tabled "..A series of indicative proposals.." and looked at the books, now there's an opportunity for others to look too. Fully expect it to go to Brookfield.

[flyer61] 01/7/2024 18:55

Not bothered about the extra month. Brookfield are serious players and would have walked if they weren't interested. Couple of pence on the share price tomorrow....

[my retirement fund] 01/7/2024 18:27

Lol, this is the warning they have had to include in the extension. That means there hasn't even been a credible offer tabled, even a low ball one. So don't bet the farm on it! The NAV was supposed to be credible. Yet another month of due dilleigence. Hmmm

[nickrl] 01/7/2024 17:51

@MRF no chance there in play now

[my retirement fund] 01/7/2024 17:41

There can be no certainty that any firm offer will be made by Brookfield or any other party, nor as to the terms of any such offer.

[skyship] 01/7/2024 17:00

Flyer - agreed - 74p - as I posted 4weeks ago! (see below). I see nothing to change that likely end figure.

"NAV as at Mar'24 = 82.4p. Any offer has surely to be at a discount; quite possibly 10%. So anything around 74p acceptable in my book. Makes the 60p level look rather cheap!"

[hpcg] 01/7/2024 16:53

Very good news - pencil sharpening competition. I'd say order of 74p plus dividend now more likely. I'm very happy to wait the additional month, if it comes to that. I would imagine the extra time is for the other parties as much Brookfield.

[essentialinvestor] 01/7/2024 16:47

I thought worst ways 66 (on an agreed bid) - with multiple parties now interested it could and arguably should, be higher.

[riverman77] 01/7/2024 16:45

Hopefully a bit of a bidding war to look forward to then!

[lord gnome] 01/7/2024 16:43

That was one heck of a closing auction.

[skinny] 01/7/2024 16:42

A large uncrossing trade after an extended closing auction.

2,866,031 @63.20p

[citytilidie] 01/7/2024 16:40

Not bad new at all. They won’t be 70p tomorrow, but there is now more chance of it happening in the weeks ahead

[spectoacc] 01/7/2024 16:40

29th July is a bit of a wait, but if it goes for less than 70p now, I'd be surprised.

The extension as expected, the rest is good news.

"Since the announcement, the Board of Tritax EuroBox (the "Board") has engaged extensively with Brookfield, including through the provision of due diligence information, and has received a series of indicative proposals from Brookfield."

That "..Series of.." are unlikely to have been at below the market price.

Suspect the extra interest declaration is to give Brookfield a little push along.

[essentialinvestor] 01/7/2024 16:36

"..is in discussions with a number of parties from whom it has received and/or solicited expressions of interest regarding a possible offer for the Company..."

[skyship] 01/7/2024 16:34

In order to facilitate ongoing discussions and due diligence, and in accordance with Rule 2.6(c) of the Code, the Board of Tritax has requested and the Takeover Panel has consented to an extension of this deadline to 5.00 pm (London time) on 29 July 2024. This deadline can be extended by the Board with the consent of the Takeover Panel.


In addition, the Board confirms that, following the announcement of Brookfield's possible cash offer on 3 June 2024, it is in discussions with a number of parties from whom it has received and/or solicited expressions of interest regarding a possible offer for the Company. The Board has also provided such parties with access to due diligence information.

...................

So, on we go. More time for Due diligence for Brookfield and for other parties.

Does seem quite likely that a bid will definitely be forthcoming.

[holts] 01/7/2024 16:34

At least it confirms there are plenty interested .

[skinny] 01/7/2024 16:30

In order to facilitate ongoing discussions and due diligence, and in accordance with Rule 2.6(c) of the Code, the Board of Tritax has requested and the Takeover Panel has consented to an extension of this deadline to 5.00 pm (London time) on 29 July 2024. This deadline can be extended by the Board with the consent of the Takeover Panel.

In addition, the Board confirms that, following the announcement of Brookfield's possible cash offer on 3 June 2024, it is in discussions with a number of parties from whom it has received and/or solicited expressions of interest regarding a possible offer for the Company. The Board has also provided such parties with access to due diligence information.

[skyship] 01/7/2024 16:18

It will be; as IMO SGRO are waiting in the wings...

[essentialinvestor] 01/7/2024 13:26

While I'm not going to complain about a short term profit, no bid and a subsequent fall back to around 56 gives a nice medium term opportunity.

[my retirement fund] 01/7/2024 13:18

They will ask for an extension