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We will just have to sit it out.
I guess it's good news that both are still in the mix. Could it be there is a bidding war going on?
There is certainly no bidding war going on, if either had made a bid it must be declared immediately to the market.
However, both are obviously still interested and are still looking at the books.
All scenarios still on, a bid at any time, pull out at any time. We could have a bidding war, but it will be conducted in public.
GLA
Even more pragmatic than me!
This is two parties involved in a bidding contest.
I have no doubt about it. All totally in my opinion and happy to accept that this sort of thing contravenes SM regualations.
GL!
You are way off the mark Furry.
It does not just contravene SM regulations, it would be a Criminal Offence and anybody involved in this sort of thing would be prosecuted and imprisoned.
Read the rules on Takeovers and Mergers
There is no guaretee either will actually make a bid, both could pull out tomorrow or any other day.
What is the shareprice telling you?
The market thinks it unlikely either will make a bid, and if they do that it will not be much above current market price.
Todays announcement may well cause the price to bounce a bit tomorrow morning, as both parties are still interested.
Happy to agree to disagree Mardler.
Could not be happier with the outcome today and time will tell which one of us is correct.
All v best
FC
I an not saying a bid will not happen, I and my wife both have substantial holdings and I certainly hope it happens,
just trying to point out the facts.
Best Wishes
M
@Mardler the SP is telling me that many reacted too quickly when there was no RNS at 7am thinking no offer was forthcoming not considering an after hours RNS before the 5pm deadline.
Panic ensued and it was oversold then continually recovered from 10.30 on.
I honestly cant see why you say "The market thinks it unlikely either will make a bid, and if they do that it will not be much above current market price." After the initial announcement the SP has ticked up and down in a similar range. This morning it opened at 813p then obviously dived, recovering to 780p. Then we get the RNS after hours.
Excepting the panic today the market is pricing in a potential bid, with some margin if one is not forthcoming.
I still think a nice round £10 offer.
As an employee and shareholder i am somewhat torn. But purely from an investment angle i thought the extension is a positive. A tabled bid would be great but i suspect neither want to blink first.