I`m not overly surprised. It was an opportunist bid, at possibly the wrong time to get market support. I would have liked to have seen the board reject it with a strong forward business plan, as opposed to stating it was short on valuation. Long term hold was always my goal as healthcare in this country has to become more privatised.
I now expect Spire to ask for an extension on Monday. Mediclinic will have its hands tied with the current dip in its share price. I wish I had taken a small profit at £3.00. Hay ho, if it doesn`t work out I`m sure it will all be OK in a year or two. Its a long term buy for sure.
As is usual with any deal the management sit down and look after themselves and then investors. At present most long term holders will be in the black. I can`t see why we should sell for less than 320p unless there is more bad news to come from Spire. Point to note is that the interims from Mediclinic were not inspiring and the share price is not supportive at present. Spire has taken a big hit early on which shows nerves
I have a reasonably close stop loss set, got a guarantee of course but another option perhaps. I admit to being slightly nervous also....but given the amount of skin they already have in the game, (bought at a higher sp) I still think they will up their offer, but WDIK.
I expect with the market turning down and some IPO`s being postponed that Mediclinic will feel they have the upper hand. They will know the exact state of Spires positition and will offer about 330p in cash and shares. I would expect this to happen over the weekend. If the deal falls through then expect to see 200p, which is a buying opportunity IMHO
Spire say not enough, Medi say maybe another offer, maybe not, then 19 RNS disclosures of trading, swops, selling or buying each others shares. No public hostility, I am interested in what this indicates?
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