Re: Rival bidder ruled out Dave Sweeney, there's a name from the past. The man with the IMG tattoo lol
Re: wifi open door for hackers? The MIPS sale is 'priceless'. The dollar value may be below par but the strategic value in selling this asset is where the real value lies for the greater business. Due to US regs etc IMG could not sell the main business with MIPS included. So in summary, how do you price the one thing that opens the door to the bigger thing?I'm a little disappointed not to see a counter bid as thought this could have got above 200p based on that battle alone. That said, you never know... once MIPS is sold, there is a period whereby IMG are in theory 'open to all' bids from all entities. The MIPS sale has to 'complete' before IMG's main sale commences.Not over yet.On a side note, I see Numeric and other shorters are quietly taking their medicine and closing out their losses on short positions. Numeric look like they've lost a packet on IMG. What a shame!HUB
Re: wifi open door for hackers? Things are only worth what those in the market are prepared to pay. HY paid a ridiculously high price for a stripped down MIPS business. He may well have been right about the potential and importance of the MIPS technology but as so often with IMG business sense and corporate ambition made MIPS a dreadful investment.The world is full of people and organanisations 'who knows the price of everything and the value of nothing'Only the techie's understand the value in MIPS long term but PLC's need to show a return on capital employed along with developing their business and IMG's never managed to do do that and hence why this sorry situation was always the only outcome. You don't have a viable PLC if you can't pay a return to investors.AIMHO
Re: wifi open door for hackers? Its a firesale. None of that matters now.
wifi open door for hackers? techno foxand IMG sold off MIPS for half the price they paid for it? [link]
Re: Rotten Apple? Since Apple pulled the plug on IMG Ive read many reports that appear to indicate that there business model is to just bully their supplier to ensure their own success. They are of course very financially powerful, maybe the Chinese will challenge this positIon over the coming months/years.
Rotten Apple? Qualcomm Seeks China iPhone Ban, Escalating Apple Legal FightIan King13 October 2017, 17:37 GMT+1 13 October 2017, 17:58 GMT+1 Chipmaker files patent suit against its customer in China Suit will seek ban of sale, manufacturing of offending devicesQualcomm Inc. filed lawsuits in China seeking to ban the sale and manufacture of iPhones in the country, the chipmakers biggest shot at Apple Inc. so far in a sprawling and bitter legal fight.The San Diego-based company aims to inflict pain on Apple in the worlds largest market for smartphones and cut off production in a country where most iPhones are made. The product provides almost two-thirds of Apples revenue. Qualcomm filed the suits in a Beijing intellectual property court claiming patent infringement and seeking injunctive relief, according to Christine Trimble, a company spokeswoman."Apple employs technologies invented by Qualcomm without paying for them," Trimble said. An Apple spokesman didnt immediately respond to a request for comment on Friday. Apple shares gave up some gains from earlier on Friday, while Qualcomm stock maintained small losses.
Re: thats if this deal goes through? I have to agree that anything legal is possible but the whole Apple conspiracy theory is predicated on the ridiculous belief that Apple need to drive the share price down and are risking all to save some money.Apple have so much cash, more I believe than the UK and Canadian Governments foreign reserves put together (to provide some perspective) that there really isn't any need for them to be concerned about shaving off a few pence from the share price. That really isn't likely, possible yes, but why oh why would they bother.75% is a very high bar, so high in fact that it's almost challenging rogue shareholders to vote the deal down, if there really are any.As I have said before, IMG had such a loose and leaky relationship with Apple over the years that in my opinion, it's highly likely Apple have taken all they want from IMG via the back door. Who knows, maybe there will be some litigation but Apple can just pay up if necessary. It may not even come to that because if you consider the Bombardier situation, ongoing at present and just how good the partisan and protectionist American corporate and legal system is at putting 'America first', being legally right may not win you the case and there is precious little anyone can do about it. Remember it isn't written anywhere that life is fair!From my perspective this is all over. Somewhere along the way the cosy relationship IMG had with Apple went sour when HY was deposed and new management came in. They probably tried to set the relationship on a proper footing and ended up being treated in the same way so many supplier to Apple have been over the year. This is business so 'if you want loyalty, buy a dog'. IMG have been Apple's 'pet' for a few years and now they've had enough of and from them so they've thrown them out. Facing existential risk they are a stray looking for a new home. Not the best bargaining position in the world.AIMHO and DYOR
Re: thats if this deal goes through? No you not dreaming but mad comes to mind. If Apple had been building a stake it would have been disclosed and the share price would not be 171p but surely you know this. I expect the price to edge closer to the 182p level over the coming days.
thats if this deal goes through? techno foxwhat if Apple already controls over 25% of the shares and voting rights, they already had 8% which they did not sell, so it would not be a big stretch for Apple to have gained a blocking shareholding via third parties should they want to block this deal, the really big question is still how much they wasn't to upset the Chinese government should their finger prints ever be found behind the blocking of this deal, 75% is a very high bar to jump over, if Apple is serious about blocking the Chinese deal whilst keeping their hands clean from any blame from the Chinese government, then once the share prise drops after the deal falls through Apple moves in and buys up the shares on the cheap.well its a plan? or am I dreaming.
Re: Info from Halifax thanks for that-very useful information to know the time table. And a lot more helpful than conspiracy theories involving Apple
Info from Halifax IMAGINATION TECHNOLOGIES GROUP PLC - Important InformationRecommended Cash Acquisition by CBFI Investment Limited a wholly-owned subsidiary of funds managed by Canyon Bridge Capital Partners, LLC.182 pence for each Imagination Technologies Group Plc share held.On 22nd September 2017, the Imagination Board and the CBFI Board announced that they had agreed the terms of a recommended cash acquisition of Imagination by CBFI pursuant to which CBFI will acquire the entire issued and to be issued ordinary share capital of Imagination.The Acquisition will be effected by way of a Court-Sanctioned Scheme of Arrangement under Part 26 of the Companies Act 2006.The Acquisition values the share capital of Imagination at approximately GBP550 million and represents a premium of approximately 41.6 percent to the Imagination share price of 128.5 pence on 22nd September 2017, being the latest practicable dealing day before the Announcement.The Scheme is subject to shareholder approval at a General Meeting and Court approval at a Court Meeting both to be held on 31st October 2017. The Scheme will then be subject to Court sanctioning at a Court Hearing to be held on or about 6th November 2017.Subject to acquiring the necessary approval, the Scheme is expected to become effective on or about 7th November 2017.Prior to the Scheme becoming effective, an application will be made to the London Stock Exchange for the cancellation of listing of the Imagination shares. Subsequently, the cancellation of admission to trading is expected to become effective on or about 8th November 2017 with the last day in dealings expected to be on or about 6th November 2017.The Scheme Proceeds are expected to be credited to your account on or after 21st November 2017. Should you retain your holding of Imagination shares, we will notify you when the cash has been credited to your account.For more information about the Scheme, please visit the following link, [link]
So where is the rival bid? Well if Apple are in so much need of IMG then they are leaving it rather late?
Shareholder Vote Imagination Shareholders To Vote On Canyon Bridge Deal This MonthLONDON (Alliance News) - Imagination Technologies Group PLC's shareholders will meet on the last day of October to vote on the proposed acquisition of the semiconductor and intellectual property licensing firm by Canyon Bridge Capital Partners LLC.Imagination in September recommended a takeover by US fund Canyon Bridge, valuing it at around GBP550 million. Canyon Bridge is based in the US, but its USD1.5 billion in funds come from Yitai Capital, a Chinese state-owned enterprise.Canyon Bridge made the offer for Imagination via newly incorporated business CBFI Investment at 182 pence per share. This represents a 47% premium to Imagination's share price on June 21, the day before it started its formal sale process.For the deal to go ahead, at least 75% of Imagination shareholders must provide approval at a general and court meeting to be held on the last day of October. If the acquisition goes ahead, then Imagination expects to de-list from the London Stock Exchange around two days after the court hearing to sanction the scheme due on November 6, implying it will delist on November 8.Imagination shares were up 0.3% on Monday at 171.25 pence.
Re: Decided to buy some. HA HA good one HughSo did I (Decide to buy some) but only just after the recent big drop ! I think I will now start to use this notice board as a note pad also !!