IntelliAM aiming for significant growth with £5 million Aquis IPO. Watch the video here.
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Lithia improves cash portion, implied deal value now 35,4p
Good news and hopefully the other 2 bidders will also come back. In the unlikely event that we get other bids equal to this one I shall vote for the others because frankly the BOD had the cheek to recommend acceptance of their first low ball offer, Outrageous behaviour which frankly stinks imv.
They've been a bit cute with timing with vote going ahead tomorrow, they may get it over the line now. Did say ideal scenario would be a Lithia counter, and here we are so taking profits, market price more than good enough for me. Having said that could still be a bit of mileage in this with further counter bids, but being down to 11th hour seems a good time to derisk.
I'm not sure the vote is tomorrow, thought it was the 6th?
40p must be on the cards and then I can recover sanity after 18 years of hell!
Why is (new) Pinewood worth 10.6p a share - with £30 from Lithia for new shares it would have amarket cap of about £180m which seems high.
Again from memory, I am sure I read in The Times that Zeus Capital had valued Pinewood ALONE at £400M.
But market cap of the group including Pinewood is only £480m
@pagey vote cut off is tomorrow, it's always a few days before meetings themselves to allow for share settlement. That's unless the company announce a postponement, which could happen but only if one of the other two bidders change their offers.
Accordingly, the Board of Directors of Pendragon now announces that the Original General Meeting will be opened and adjourned immediately and Shareholders are asked not to attend the Original General Meeting. Instead, a supplementary circular is expected to be sent to Shareholders shortly, containing further details of the Transaction Amendments, the Resolutions, the Board's recommendation and a notice of general meeting in respect of a further General Meeting (the "Further General Meeting") at which Shareholders will be asked to approve the Resolutions (the "Supplementary Circular").
Shame that PDG is rolling over and selling up. It's twice the size of Hedin. Another blow for the London stockmarket. PDG should be buying and growing. Not selling and shrinking.