pearlsasinger
13 Jan 2016
Goodnight JRIC! 72p.per share.Done and dusted.Sorry to see it go.
TX2
25 Nov 2015
Re: new possible offer at 73.5p We could possibly see the original bidder increasing his bid to around 75p.
pearlsasinger
25 Nov 2015
new possible offer at 73.5p The new 'approach' announced this morningwill almost certainly materialise into an offer:It was followed by some large purchases at 73.5and it is unlikely that a new third party wouldenter the fray at this late stage -without serious intent.
TX2
17 Nov 2015
Re: Takeover offer at 72p If they paid a higher price than their offer price for any shares they would have to raise their price to that level for all shares.However I would point out that bidders do not normally buy in the market,even if the market price is below the offer price, they wait until they get formal acceptance from shareholders of enough shares to complete their takeover(usually 90% assuming they owned no shares prior to the offer as on reaching this level of acceptances the offer becomes mandatory ).The reason being if an offer fails to gain the required acceptance level the bidder does not wish to be left holding a minority of shares and/or being unable to complete their offer.If he fails to get enough acceptances,the bidder may raise his offer or walk away.It looks if a third party is speculating that a higher will be made.However they may not be correct and will have to accept the offer price.On the face of it,compared with indicated NAV the offer seems reasonable but the offerer must feel I assume that the portfolio has value beyond the present managers indicated NAV.
pearlsasinger
17 Nov 2015
Re: Takeover offer at 72p Several large trades today above 72p. Am I correct in thinking that the Bidder is prohibitedby the Takeover Code from paying more thanits Offer price??
pearlsasinger
13 Nov 2015
Re: Takeover offer at 72p The yield will certainly be missed.I sold 25% today - to trade onwards.There is no real evidence in today's large volume of tradingthat a third party is trying to stop the Bidder from building a stake at 72p.
TX2
13 Nov 2015
Re: Takeover offer at 72p I am a more recent buyer with an average of 58p so offers a 20%+ profit.Interesting however that another fund should see value @ 72p.The problem has been currency decline so do we take it that the bidder and the other potential bidder see things moving in the opposite direction?The divi will be missed and as you point out difficult to replace.
The Dutchman
13 Nov 2015
Re: Takeover offer at 72p They mention one, but also at 72p. Given that this is a property company I would expect bidders would carefully consider NAV and future cash flows so no all out bidding war is likley to develop, so I guess that this may top-out at 75-78 if we are lucky. Looking at my own, albeit small investment made in late 2012 the performance has lagged the FTSE 250, even after taking account of the strong income stream. I will be glad to be out, but finding something else witha safe and decent yield is difficult. Overall my 'japanese' investments have been dissapointing in staerling terms as gains have been offset by currency depreciation. Of course I should have bought into a hedged investment fund. cheers
pearlsasinger
13 Nov 2015
Takeover offer at 72p Any possibility of a counter bid??
