Tradefair & Financials
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I have a few shares in Arena Leisure and they've been taken over by the Reuben brothers, who also own Northern racing.
As a novice, I haven't a clue what happens now.
Does it mean that, eventually, I'll just be sent a cheque and that will be that?
As a novice, I haven't a clue what happens now.
Does it mean that, eventually, I'll just be sent a cheque and that will be that?
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This all looks to be a dogs dinner.
A recommended cash offer has been sent to shareholders on the 10th February, meanwhile: The OFT has launched a competition consultation, asking for comments with a closing date of 14th February. The expected timetable for the cash offer was for payment to be made by the beginning of April. This deal could yet unravel or be delayed, though probably unlikely. I'm not a shareholder, but if I was, would maybe sell the shares on the open market and suffer the dealing costs and the risk premium of the deal unwinding. The downside is probably, I would hazzard, a drop in share price to around the 34p/38p price range. |
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Thank you, madasahatter.
Obviously I don't know the ropes. The price,that they offered and was accepted by the board, was a bit more than I paid, so I wasn't too bothered. However, I think it's the wrong time to sell or be taken over. Imo, I think things will start soon to get better for the racecourses from the "real estate" point of view. The brothers didn't make their bid for fun, but must see some potential. In fact, I was thinking about buying some more AL shares before all this happened. What a novice! I never knew that folk could buy something off ya that you didn't want to sell.  'Twill all end in tears, I suppose. Mind you, that's one hell of a "monopoly" these guys have - if it goes through: 19 British racetracks.  Apparently, they wouldn't hesitate to close any that don't deliver. Virtual racing in the hotel games-room, anyone?  |