GKN Live Discussion

Live Discuss Polls Ratings Documents
Page

sound money 19 Feb 2018

Re: Can I still sell my GKN shares Richard,Here is the original reply:"Soundmoney – The options are to accept the offer as it is, or to be given a high portion in shares or a higher portion in cash. Unsure why they offer this, opting to take more as cash will require someone to opt to take a higher portion in shares."There was no default action mentioned.Even if there had been if the poster ignored as I suggested Barclays would have done nothing. They can't without instruction.I repeat you are only forced to give up shares when the offer becomes unconditional. M

sound money 19 Feb 2018

Re: Here's a thought... No guys that is not necessarily so.You have to remember that MRO are more like private equity than your typical plc.So this is not like Hanson or BTR from the 1980's where bigger and bigger deals were needed.Let's look at their record. Buy, improve and sell. Then pay back huge dollops to shareholders. Yes we are allowed to make a profit.This reduces the capitalisation of the company, so they just start again from whatever base they are on.The shareholders get to decide what they do with the cash. Simple.M

richard599 19 Feb 2018

Re: Can I still sell my GKN shares sound money,"You simply don't know what you are talking about."Oh dear, perhaps you should re-read my post. I was talking about the Barclays Smart Investor corporate action which didn't give the option of rejecting the offer. That was the context of the original post - the Barclays corporate action. Barclays explicitly stated that they will take the default option as acceptance of the offer. There is no option to reject the offer in the Barclays corporate action. That's what I said. They screwed up.I said nothing about the options for GKN shareholders in general. I'm quite aware of what they are which is why I complained to Barclays about their corporate action.Sorry, but who doesn't know what they are talking about, again?R.

pike fisherman 19 Feb 2018

Re: Here's a thought... Quite possible they will be acquired at a large premium as was their predecessor Wassall Plc.

Lupo di mare 19 Feb 2018

Here's a thought... ..boys and girls.Assuming, and you know my opinion on that, that MRO succeed in their bid for GKN, does that mean that their next target will have to be even bigger?Unless MRO are going to add yet two more divisions to their present 3 or 4 or however many, and become a conglomerate, they will continue with their policy of breaking up companies and selling them of bit by bit.That being the case, they would have to make even larger acquisitions in the future.

Lupo di mare 19 Feb 2018

Re: Can I still sell my GKN shares "...holders can elect to receive Maximum Cash (Option 4) in exchange for their GKN shares held, subject to scaling back. For every 1.49 New Melrose shares surrendered holders will receive approximately GBP3.24 in cash. Please note the Mix and Match facility shall be satisfied to the extent that other Scheme Shareholders make equal and opposite Mix and Match Elections. As such both the Maximum Cash, and Maximum Share options may be subject to scaling back."

Lupo di mare 19 Feb 2018

Re: Can I still sell my GKN shares And those who elect maximum cash might not get that - depends on the take-up.If it goes through.

sound money 19 Feb 2018

Re: Can I still sell my GKN shares "It's not really an option. ignoring it Barclays will take that as acceptance of the offer, as tabled, by default.There is no way for holders of GKN to reject the offer."Richard,You might want to take stock of what you have said. Holders of GKN can reject the offer. The chairman's letter last week was encouraging shareholders to "reject" the offer. The only way that MRO can declare the offer unconditional is when they have a majority shareholding.You simply don't know what you are talking about.M

PhilipJD 19 Feb 2018

Re: Can I still sell my GKN shares From ii corporate action the following options are available: Do not Accept (Default) Receive Basic offer - Cash and Shares Receive Maximum Shares Receive Maximum CashThe receive maximum shares/cash are matched - if one investor wants max shares, this must be matched with another investor who wants max cash.This seems a lot clearer than the Barclays attempt - glad I am on the move out of there!

Lupo di mare 19 Feb 2018

Re: Can I still sell my GKN shares Aha, ii have provided a Corporate Action facility.

richard599 19 Feb 2018

Re: Can I still sell my GKN shares sound money,"The other option is ignore."It's not really an option. ignoring it Barclays will take that as acceptance of the offer, as tabled, by default.There is no way for holders of GKN to reject the offer.Nice one, Dumb Investor.(FYI, "Smart Investor" is what Barclays brand their platform these days - I'm not referring to anyone on this board.)R.

richard599 19 Feb 2018

Re: Can I still sell my GKN shares Andy46,I am with Smart Investor too, and I called them about the same query.Guess what, they've had lots of calls about it! It was explained as a "badly worded" corporate action and that perhaps they had jumped the gun by assuming the Melrose takeover would go ahead as is. Strip out options 2 & 3 (that were dreamt up by them and rely on there being a sufficient balance of counterparties at Barclays to make them viable, and they are offering you the option of accepting the Melrose offer explicitly or by default. Not really much of an option if you ask me. Bascially, they've screwed up. Again.Their advice to me (unofficially) was to sit tight and wait until they clarify the corporate action in light of any further developments (GKN vote, HMGovt stepping in, Melrose changing terms, blah, blah).In any case, you have until 6th March to decide.R.

iolat 19 Feb 2018

Re: From Mail I think this is a one off deal to boost it’s share price which is a very short term outlook. I still reservations with Melrose

sound money 18 Feb 2018

Re: Can I still sell my GKN shares Andy,Ah I see what you mean. Your broker is simply putting the offer on the table as it is presented. The other option is ignore.This standard in a takeover situation.Just to explain a little further. If you choose to ignore the offer but the majority of investors accept, then likely the offer will become unconditional.That eventually means you wont have a choice.If you would like to see GKN remain as an independent company your hope would be that the majority see things from your perspective.M

Andy46 18 Feb 2018

Re: Can I still sell my GKN shares Soundmoney – The options are to accept the offer as it is, or to be given a high portion in shares or a higher portion in cash. Unsure why they offer this, opting to take more as cash will require someone to opt to take a higher portion in shares.Numberbiter – I tend to agree. Any idea why I’m not given the option to reject the offer? The only option my broker, Barclays are giving me is to basically accept.Pike – Ta for the info

Page