gamesinvestor
15 Jun 2016
18% """"The offer from Dätwyler Holding, which is quoted in Zurich but controlled by the family vehicle of the two brothers who founded it, is pitched at 165p, 51 per cent higher than Premier’s closing share price on Monday. It already has the blessing of investors speaking for 18 per cent of the company."""""Interesting that only 18% is mentioned so far as backing the deal -- what about the other 82% - I mean I haven't given them my blessing yet The shares seem quite widely distributed, since the top 10 institutions own only 31% of the share of Farnell :-J O Hambro Capital Management Limited 7.51 Government Pension Fund of Norway 2.95 Harris Associates L.P. 5.40 Aberforth Partners LLP 4.71 Premier Fund Managers Limited 2.64 Vanguard Group Inc 1.79 0Majedie Asset Management Ltd 1.70 M&G Investment Management Ltd. 1.63 Ennismore Fund Management Limited 1.72 BlackRock Investment Management (UK) Ltd. 1.36 Total: Top 10 institutions 31.41 Games
gamesinvestor
15 Jun 2016
166 OK -- it just hit that on my live screen.Does this imply a rejection of the offer, or someone else is interested in keeping it in the UK?Games
gamesinvestor
15 Jun 2016
Re: I'm out!!! Jack - correct it was £55 and it was made in May 2014 -- seems like an age now ---- when the stock was £53.5. The AZN board stated they wanted at least 10% above the £53.5 which wasn't a million miles away from the £55 offered.In the meantime Pascal Sorryhat has spent a ton of shareholders money on really expensive acquisitions, many of which are loss making and in some cases have no revenue at all despite huge prices paid for the companies.AZN revenue and profit has been in decline for over 5 years -- I sold at £47 and I wouldn't be surprised to see AZN revisit £20 -- and it wouldn't be cheap at that, given two of their main revenue earner drugs are still to come off patent.Games -- Oh what to do with PFL? -- still watching
Jack_Walsh
15 Jun 2016
Re: I'm out!!! uytPfizer were offering less than the current value of AZN (still £37 in these straightened times).---------- ---------- ---------- ---------- -It was £55 per share, which is considerably more than the current share price.You're not get $ and £ confused?BBC headline, for confirmation:"US drugs giant Pfizer has withdrawn its £55 a share, £69bn takeover bid for UK pharmaceutical firm AstraZeneca"
axel27
15 Jun 2016
Re: I'm out!!! Execution risk is why they sell. But who is buying. Volume was healthy.With stamp duty and dealing cost, only one buyer at 164And they worry about exchange rate risk unless they hedged the 165, few hundred mil.Did anyone question management on their recommendation at yesterdays agm.Guess its hard work for execs getting the P&L back to where it was 2 years ago. Better to sell low and negotiate new LTIP with new owners.A
uytkvv
15 Jun 2016
Re: I'm out!!! Pfizer were offering less than the current value of AZN (still £37 in these straightened times).
uytkvv
15 Jun 2016
Re: I'm out!!! I wonder why people are selling, when there is a guaranteed (virtually) minimum value of 165p. No dealing costs either.So I shall sit tight.
Jack_Walsh
14 Jun 2016
Re: I'm out!!! I also sold out this morning.Don't wish to be greedy!Also, I've still got the debacle of AZN in the back of my mind. If only thy had taken the Pfizer offer.
axel27
14 Jun 2016
Re: I'm out!!! I'm not out.... want to squeeze that last penny !If it goes above 165, then someone reckoning will be higher offer. This company was valued 230p and higher than this no many months ago. OK P&L has been hit, but I suspect the irroevocable offers are PE recent shareholders wanting a quick buck .... I see JO Hambro only offered half their holding as irrevovable in the offer.A
king penguin
14 Jun 2016
Re: I'm out!!! yep made a tidy profit of £4k this morn.
Misty Creamybib
14 Jun 2016
Was on my watchlist Congratulations to all holders. Had this on my watchlist from 1.05 and never bought. I would be take the money and run.Look around for the pre referendum bargains.
Omaha man
14 Jun 2016
Re: I'm out!!! I have taken the money and run. I doubt we will see a counter offer, though the weakness of sterling does make it a cheaper option for foreign buyers than would have been the case a month or two ago.
bamboozled
14 Jun 2016
Re: I'm out!!! Yeh I'll be out as soon as I get back to base. I'm happy with that!
Frankers70
14 Jun 2016
I'm out!!! I'm out at 163p having bought these at an avg 158p almost 12 months ago. Seeing as how badly they have performed since, I'm delighted with the deal and a small overall profit on my 11,500 shares. I'm also happy I've got some cash to invest in a falling market although maybe I'll wait until after the referendum to deploy....as ever GLA in future activities.
gamesinvestor
14 Jun 2016
Re: 160p offer rumour... "Let's hope for a bidding war!"Sounds like from the announcement they are likely to accept the 165p, but maybe Electrocomponents are also interested?I have no basis for assuming that, pure speculation on my part.I'll be glad to see the back of this one -- it's not on my future radar.Games
