Hub
25 Sep 2017
Re: IMG IS SUING APPLE 
The purchasers are the Chinese State. Hence, I think they know exactly what they are doing where Apple are concerned.The litigation against Apple is a bonus ontop of the IMG acquisition price. IMG will not lose as Apple have used their tech/IP on latest chips. Unless Apple reinvent the wheel from scratch, I don't think they can get out of this. And with the chinese state now on board, Apple cannot muscle the case with hefty legal costs.HUB
GB Belzoni
25 Sep 2017
Re: IMG IS SUING APPLE Caynon Bridge must either be positive about the claim against Apple or desparate for IMG's technology.They will have investigated the claim as part of their due diligence but purchasers don't usually buy companies involved in major litigation.Does anybody know where the claim will be brought?
Hub
25 Sep 2017
Re: Apple settlement! I'm holding for Apple Settlement as think that's more likely now and within 60 days.Can't rule out an Apple bid but China state have deep pocketsUK gov cannot get involved as if they block Canyon, they effectively reduce IMG's worth which is counter productive and diminishes the company's future opportunities which Canyon have pledged to maintain and finance.HUB
cooperboy
25 Sep 2017
Re: Apple settlement! Totally agree with you T&C - dont forget the IMG board have already accepted the bid at £1.82 - for any other offers to come in these would in effect be hostile take over bids-if other companies were queuing up for IIMG they would have made their offers to IMG over the last 6 weeks and presumably been accepted. It llooks to me like Canyon is the only game in town. Personally i am hanging in there for the £1.82 which is a good premium to friday's price
Tired and Confused
25 Sep 2017
Re: Apple settlement! There certainly are no guarantees. It should be remember that the offer price of 182p is conditional on the sale of MIPs which is totally separate sale. There is still the risk, however slight that the UK government could look very closely at this as well. Yes, Apple may make a counter bid but only a fool would believe they haven't anticipated this situation unfolding and they have seemed content to let it unfold. It could of course just be a strategy to pay as little as possible for IMG if this does become an auction.All of the above is reflected in the share price. Holding to get the full 182p has its risks but buying at 172p in hopes of 200p to 240p certainly is a very risky strategy indeed.AIMHO
Hub
25 Sep 2017
Re: Apple settlement! There is absolutely nothing in any of this which will benefit Apple. Any gains via IMG stock might just cover their legal bills. Just in case anyone is unsure about who Apple are up against... Canyon are just a shell company of the Chinese Republic.This case is Apple vs The State of China lol! Who's going to win? IMG management playing a blinder.Over to you Timmy. Mr Jobs would be turning in his grave at how Apple have got themselves into this position. Why didn't they just pay the proper money for IMG rather than trying to put them out of business and steal their staff?HUBnb. Counter bids may be futile as any bidders know the power of Canyon's purse. That said, a few out there may fancy seeing them bid higher.
Hub
25 Sep 2017
Re: Apple settlement! Yep.Looks like IMG currently offers the potential for an increased bid form another party and a possible dividend payment in the 100's of millions levelWhich means buying at 174p today, you get 8p on the offer price and toy get chance to benefit from apple settlement plus any additional bidThe shorters now have to close their positions or run the risk of paying more when Apple settle (IF they settle) or if a higher bid comes in.I would have expected this to open at 190's based on that scenario but suspect the shorters will be doing their best to close out as low as possible and using the traders who want their cash early as the vehicleI've added this morning as think this could deliver 200p to 240p range on counter bids and Apple settlement. No guarantees of course.HUB
EyesonHawk2
25 Sep 2017
Apple settlement! Article in todaysTelegraph: For me this paragraph stood out!"Imagination is now pursuing a legal claim against Apple and if it wins the dispute before its takeover closes, deal documentations reveals Imagination investors will be entitled to 50pc of that settlement payment with Canyon Bridge keeping the rest. However, in a weird twist, Apple will also benefit if it does pay out, as it owns an 8pc stake in Imagination."Full article here:[link]
techno foxx
25 Sep 2017
Re: a very sad time? techno fox just one last point, I have not mentioned this before and it is the huge risk of china buying IMG technology and then making it a Chinese semi industry standard, this could be by far the biggest threat to every GPU OEM hoping to sell in to the Chinese market place.after all what china wants more than anything else is a much bigger market share in the semi industry?
techno foxx
24 Sep 2017
a very sad time? techno fox Revenge is a dish best served cold, well it must be very chilly in the Apple boardroom this weekend for Tim Cook who will be surrounded by legal experts attempting to look at the potential damage of China buying Apples imagination, the Chinese will clearly use these patents as a shield with which to bring their own Chinese very cheap IPhone copies to the US, but that not the worst of it china also gets key IOT security CPU in MIP's and IMG ray tracing technology which ironically was developed by caustic by two EX Apple employees which must be the future of all mobile GPU hardware based ray tracing.whilst the other patent disputes have been settled out of court for millions, these cases have done no long term damage to Apple, however this takeover is on a different order of magnitude from a strategic position, the sad thing is if it were not for Tim Cooks penny pinching with billions in the bank it could have been avoided, it is hard to believe if Steve Jobs had still ben alive he would have allowed this to get this far.
BBanker
24 Sep 2017
It ain't over yet. I may be wrong but it seems probable that the bidding has not finished yet. Apple may yet decide to attempt closure by making a bid. Getting interesting.
EyesonHawk2
24 Sep 2017
Re: IMG IS SUING APPLE So let battle commence!Cutting from the Times article."Imagination is now pursuing a legal claim against Apple, arguing that the Silicon Valley giant will be unable to develop its own graphics chips in-house without infringing its patents. Apple claims that it would not owe any patent royalties.“It is really very sad that Imagination has been forced into this situation by Apple, when their claims remain unsubstantiated,” Heath said.Although the board is confident that it has a strong legal claim against the American company, the potential loss of its custom would have forced Imagination to slash jobs, according to Heath. Apple accounts for about 40% of its revenues."
Dave Sweeney
24 Sep 2017
Sorry the link to the last comment! [link]
Dave Sweeney
24 Sep 2017
IMG IS SUING APPLE IMG IS SUING APPLE So now we have it , IMG CEO says they are taking kegalmproceedings against Apple, one would think this is via the patent courtsOF COURSE since the Canyon deal is done , this means unless Apple settle quickly ( almost impossible to believe) or BUY IMG , they will be facing the limitless wealth of China in the patent court not little old IMG.This is great news on 2 scores1- Apple need a come down, their egregious treatment and perfidy towards a supplier and originator of their GPU nad still intrinsically part of it needs to be recognised and admonished.2- shareholders in IMG might recoup some of the losses made during this horrid affair!!Adds spice to the story, the story in The Sunday Times would suggest why the announcement was made Friday night not Monday, perhaps Heath and the CFO thought they would give Tim Cook and his acolytes the weekend to mull things over and that's what Palo Alto should be concerned about right nowSplendidI won't be selling my shares on Monday after all, I will let this run a few days The Vince Cable part is just ......tiresom
EyesonHawk2
23 Sep 2017
Re: £1.82 per share? 22 September 2017 Imagination Technologies Group plc(the "Company"
Rule 2.9 Announcement In accordance with Rule 2.9 of the City Code on Takeovers and Mergers, Imagination confirms that, as at the date of this announcement, its issued share capital consisted of, 286,143,781 ordinary shares of 10 pence each. The International Securities Identification Number for Imagination's ordinary shares is GB0009303123.
