Tired and Confused
12 Oct 2017
Re: thats if this deal goes through? I have to agree that anything legal is possible but the whole Apple conspiracy theory is predicated on the ridiculous belief that Apple need to drive the share price down and are risking all to save some money.Apple have so much cash, more I believe than the UK and Canadian Governments foreign reserves put together (to provide some perspective) that there really isn't any need for them to be concerned about shaving off a few pence from the share price. That really isn't likely, possible yes, but why oh why would they bother.75% is a very high bar, so high in fact that it's almost challenging rogue shareholders to vote the deal down, if there really are any.As I have said before, IMG had such a loose and leaky relationship with Apple over the years that in my opinion, it's highly likely Apple have taken all they want from IMG via the back door. Who knows, maybe there will be some litigation but Apple can just pay up if necessary. It may not even come to that because if you consider the Bombardier situation, ongoing at present and just how good the partisan and protectionist American corporate and legal system is at putting 'America first', being legally right may not win you the case and there is precious little anyone can do about it. Remember it isn't written anywhere that life is fair!From my perspective this is all over. Somewhere along the way the cosy relationship IMG had with Apple went sour when HY was deposed and new management came in. They probably tried to set the relationship on a proper footing and ended up being treated in the same way so many supplier to Apple have been over the year. This is business so 'if you want loyalty, buy a dog'. IMG have been Apple's 'pet' for a few years and now they've had enough of and from them so they've thrown them out. Facing existential risk they are a stray looking for a new home. Not the best bargaining position in the world.AIMHO and DYOR
Mikeclayton2
11 Oct 2017
Re: thats if this deal goes through? No you not dreaming but “mad” comes to mind. If Apple had been building a stake it would have been disclosed and the share price would not be 171p but surely you know this. I expect the price to edge closer to the 182p level over the coming days.
techno foxx
11 Oct 2017
thats if this deal goes through? techno foxwhat if Apple already controls over 25% of the shares and voting rights, they already had 8% which they did not sell, so it would not be a big stretch for Apple to have gained a blocking shareholding via third parties should they want to block this deal, the really big question is still how much they wasn't to upset the Chinese government should their finger prints ever be found behind the blocking of this deal, 75% is a very high bar to jump over, if Apple is serious about blocking the Chinese deal whilst keeping their hands clean from any blame from the Chinese government, then once the share prise drops after the deal falls through Apple moves in and buys up the shares on the cheap.well its a plan? or am I dreaming.
cooperboy
11 Oct 2017
Re: Info from Halifax thanks for that-very useful information to know the time table. And a lot more helpful than conspiracy theories involving Apple
ceili
11 Oct 2017
Info from Halifax IMAGINATION TECHNOLOGIES GROUP PLC - Important InformationRecommended Cash Acquisition by CBFI Investment Limited a wholly-owned subsidiary of funds managed by Canyon Bridge Capital Partners, LLC.182 pence for each Imagination Technologies Group Plc share held.On 22nd September 2017, the Imagination Board and the CBFI Board announced that they had agreed the terms of a recommended cash acquisition of Imagination by CBFI pursuant to which CBFI will acquire the entire issued and to be issued ordinary share capital of Imagination.The Acquisition will be effected by way of a Court-Sanctioned Scheme of Arrangement under Part 26 of the Companies Act 2006.The Acquisition values the share capital of Imagination at approximately GBP550 million and represents a premium of approximately 41.6 percent to the Imagination share price of 128.5 pence on 22nd September 2017, being the latest practicable dealing day before the Announcement.The Scheme is subject to shareholder approval at a General Meeting and Court approval at a Court Meeting both to be held on 31st October 2017. The Scheme will then be subject to Court sanctioning at a Court Hearing to be held on or about 6th November 2017.Subject to acquiring the necessary approval, the Scheme is expected to become effective on or about 7th November 2017.Prior to the Scheme becoming effective, an application will be made to the London Stock Exchange for the cancellation of listing of the Imagination shares. Subsequently, the cancellation of admission to trading is expected to become effective on or about 8th November 2017 with the last day in dealings expected to be on or about 6th November 2017.The Scheme Proceeds are expected to be credited to your account on or after 21st November 2017. Should you retain your holding of Imagination shares, we will notify you when the cash has been credited to your account.For more information about the Scheme, please visit the following link, [link]
Tired and Confused
11 Oct 2017
So where is the rival bid? Well if Apple are in so much need of IMG then they are leaving it rather late?
EyesonHawk2
09 Oct 2017
Shareholder Vote Imagination Shareholders To Vote On Canyon Bridge Deal This MonthLONDON (Alliance News) - Imagination Technologies Group PLC's shareholders will meet on the last day of October to vote on the proposed acquisition of the semiconductor and intellectual property licensing firm by Canyon Bridge Capital Partners LLC.Imagination in September recommended a takeover by US fund Canyon Bridge, valuing it at around GBP550 million. Canyon Bridge is based in the US, but its USD1.5 billion in funds come from Yitai Capital, a Chinese state-owned enterprise.Canyon Bridge made the offer for Imagination via newly incorporated business CBFI Investment at 182 pence per share. This represents a 47% premium to Imagination's share price on June 21, the day before it started its formal sale process.For the deal to go ahead, at least 75% of Imagination shareholders must provide approval at a general and court meeting to be held on the last day of October. If the acquisition goes ahead, then Imagination expects to de-list from the London Stock Exchange around two days after the court hearing to sanction the scheme due on November 6, implying it will delist on November 8.Imagination shares were up 0.3% on Monday at 171.25 pence.
item club
05 Oct 2017
Re: Decided to buy some. HA HA good one HughSo did I (Decide to buy some) but only just after the recent big drop ! I think I will now start to use this notice board as a note pad also !!
EyesonHawk2
03 Oct 2017
You never know! From a Q&A article with Ray Bingham partner at Canyon Bridge. Bearing in mind that the sale of ARM to a Japanese company was agreed by the UK Gov.Q&A: Ray Bingham on Canyon Bridge, ImaginationOctober 2nd 2017TOKYO — If Canyon Bridge Capital Partners (Palo Alto, Calif.) succeeds in purchasing Imagination Technologies without a hitch, it will be the very first time the Chinese government-backed buyout fund has closed any deal since the firm was founded in 2016.To acquire the U.K.-based Imagination, Canyon Bridge must get British government approval. But the big monkey wrench in the works might be the Committee on Foreign Investment in the United States (CFIUS). In an interview with EE Times last week, Ray Bingham, partner at Canyon Bridge, told us he doesn’t believe the Imagination deal will be reviewed by CFIUS, because Imagination is U.K.-based. But he added, “You never know.” Full article here:[link]
Hugh Betcher
28 Sep 2017
Re: Decided to buy some. I've also notice this ripley chappie talking to himself. Seems to buy shares which then crater, then claims to have sold out near the high, or bought on dips or averaged down etc etc. It all seems aimed at convincing someone (himself?) that he is brighter than might appear to be the case when most of us probably couldn't give a shi. Tto be honest.
cooperboy
28 Sep 2017
Re: Rival bidder ruled out I thin I have come to the conclusion that for the most part I will avoid tech companies as to be honest i don't understand a lot of how the valuations come. i have not invested but noticed that a couple of internet security companies have bombed recently. Logically i would have thought internet security is a good area to be in but not if your tech is the wrong product.I am keeping an eye on Interserve IRV - I made a few squid on the profits warning bounce when they bombed to 75p. they are now at £1.16 They haven't as yet quantified the warning so I am expecting more info to come through any day-and have an appropriate short spread bet running
Hugh Betcher
28 Sep 2017
dabble I don't normally 'punt' in shares (save that for the betting shop) but I've bought 6,500 as a dabble because while I see the political risks my judgement is the deal will proceed giving a >10% gain plus a share of any proceeds from the litigation.Obviously the downside quantum is much greater but without risk, what are equities?
Dave Sweeney
28 Sep 2017
Re: Rival bidder ruled out I was actually ANSWERING tired and confused question !!!!!!!!
I also always back up a 'suggestion' with an abundance of information, research and opinion-almost unique on bb's these days
leperky
28 Sep 2017
Re: Rival bidder ruled out Classic cross-board ramping form Dave there! But not complaining since i've been in IQE for ages and your posts are v interesting...
relaxed1
28 Sep 2017
Re: Rival bidder ruled out Is this the same Dave Sweeney who wrote "I won't be selling my shares on Monday after all, I will let this run a few days "Make up your mindIQE has a good story as did IMG .Neither company is/was ultimately had any control over its destiny.If my memory serves me right IMG served you very well and then you lost a pile.This was the story for many shareholders.,it aint over till the fat lady sings
