BUCKS TO COUNT ON: Decision time looms for confused M&C Saatchi investors – stick or spin?
You have to feel the shareholders of M&C Saatchi.
They have two takeover offers to choose from – or stick with the ad group and its high performance.
The expansion plans are going quite well without the need for another party to be involved, last week’s bidding update seemed to imply.
Decision time: M&C Saatchi shareholders have two takeover offers to choose from
The bids come from British “tech queen” Win Muria, a serial entrepreneur rejected from the start by M&C, and Next Fifteen Communications.
The problem is that both offers involve stock and cash. So whether one deal was better than the other fluctuated back and forth with the stock price.
Next Fifteen may have taken the lead as its offer rose to more than 200p per share.
That may be enough to turn some shareholders around.
An insider told Stocks To Watch a few weeks ago that 200p would be the threshold.
With deadlines looming in the coming weeks and competing offers battling it out, many investors will still be scratching their heads.
Serica Energy rejects Kistos’ latest bid
North Sea oil group Serica Energy has rejected a new offer from upstart Kistos, saying its £1.15bn bid was still too low.
Kistos began the promotion in May, but last week’s improved offer helped to increase Serica’s value to more than £1 billion.
It means influential retail investor couple David and Debbie Hardy have grown £25m to more than £100m in two months.
This should help them survive the cost of living crisis.
David and Goliath fight set Nanoco
Heat or not, Nanoco’s lawyers have spent the summer preparing for the next round of Manchester Minnow’s David and Goliath battle against Samsung.
Nanoco’s fight over whether Samsung knowingly used the firm’s technology in its best-selling QLED TVs is set to go to trial soon, something the South Korean electronics maker has vehemently denied.
Nanoco has been upbeat since winning a U.S. Patent and Appeals Board lawsuit in May.
But it was all too much for long-time investor Richard Griffiths, founder of former broker Evolution Securities.
Last week, he sold part of his holding, reducing it to less than 3 percent – below the threshold for a public declaration.
Insiders say it’s unlikely he’s completely gone.
Hargreaves Lansdowne’s Skepticism
There is skepticism at City about Hargreaves Lansdowne ahead of next Friday’s full-year results.
The retail hub has attracted a record number of shorts from hedge funds that stand to profit if its stock falls.
Six groups gained 3.84 percent, including the UK’s largest short-selling fund Marshall Wace.
Hargreaves suffered the same fate as most of the so-called “pandemic winners” whose massive growth during Covid has since stalled.
Analysts expect profits to fall to £275m from £366m last year.
Forecast will be key.
Will ordinary Brits be less likely to splash out this autumn as higher bills hit households and cut into spare cash reserves?
STOCKS TO BUY: Decision time for investors M&C Saatchi
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