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Elan Takeover Announced

  • 29-07-2013 4:33pm
    #1
    Value Hunter
    Closed Accounts Posts: 337 ✭✭


    $16 per share is the agreed price if anyone's invested


Comments

  • #2
    gordongekko
    Registered Users, Registered Users 2 Posts: 5,301 ✭✭✭gordongekko


    Value Hunter wrote: »
    $16 per share is the agreed price if anyone's invested

    not all in cash.


  • #3
    Value Hunter
    Closed Accounts Posts: 337 ✭✭Value Hunter


    gordongekko wrote: »
    not all in cash.

    Yep $6.25 per share in cash, the rest in shares in the new company, total value supposedly $16.50, not $16 my mistake


  • #4
    gordongekko
    Registered Users, Registered Users 2 Posts: 5,301 ✭✭✭gordongekko


    Value Hunter wrote: »
    Yep $6.25 per share in cash, the rest in shares in the new company, total value supposedly $16.50, not $16 my mistake

    Most would have preferred an all cash offer. Any hope royalty will return into the bidding?


  • #5
    Value Hunter
    Closed Accounts Posts: 337 ✭✭Value Hunter


    gordongekko wrote: »
    Most would have preferred an all cash offer. Any hope royalty will return into the bidding?

    I wouldn't expect one, i think they pushed it as far as they could to $15.50 per share.

    Interesting the market hasn't increased the share price nearer the new takeover price, seems to be stuck around $15.50 today, shows they're not fully confident the deal will go through, or that the shares in the new company aren't worth the listed price


  • #6
    Dubh Geannain
    Registered Users, Registered Users 2 Posts: 3,552 ✭✭✭Dubh Geannain


    Value Hunter wrote: »
    I wouldn't expect one, i think they pushed it as far as they could to $15.50 per share.

    Interesting the market hasn't increased the share price nearer the new takeover price, seems to be stuck around $15.50 today, shows they're not fully confident the deal will go through, or that the shares in the new company aren't worth the listed price

    I'd say people are cashing in now as they don't want the shares in Perrigo. There's been some good upside recently too.

    I was tempted to liquidate 50% of my holding today and take up some shares in the offer myself though but with the pull back since this morning I've decided to sit tight. Elan's price will track Perrigo's I expect as long as the offer is on the table. If you superimpose their charts for today they are pretty correlated.

    http://finance.yahoo.com/echarts?s=prgo#symbol=prgo;range=1d;compare=eln;indicator=volume;charttype=area;crosshair=on;ohlcvalues=0;logscale=off;source=undefined;

    So the $16 valuation could me more could be less depending on Perrigo's performance. I'll admit I know F all about them.


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  • #7
    Value Hunter
    Closed Accounts Posts: 337 ✭✭Value Hunter


    Dubh Geannain wrote: »
    I'd say people are cashing in now as they don't want the shares in Perrigo. There's been some good upside recently too

    Totally agree, there is about 7% difference in price but I wouldn't be relying on the $16.50 price, I think a lot of people will sell now at $15.50 and guarantee it.

    I never even heard of Perrigo before today, market cap around $12 billion though and their pulling off a near $9 billion takeover! Interesting stuff


  • #8
    Alibaba
    Registered Users, Registered Users 2 Posts: 506 ✭✭✭Alibaba


    Value Hunter wrote: »
    Yep $6.25 per share in cash, the rest in shares in the new company, total value supposedly $16.50, not $16 my mistake

    I own 1000 shares in Elan.
    Does that mean i will receive $6.25 per share in cash ?


  • #9
    gordongekko
    Registered Users, Registered Users 2 Posts: 5,301 ✭✭✭gordongekko


    Alibaba wrote: »
    I own 1000 shares in Elan.
    Does that mean i will receive $6.25 per share in cash ?

    yes plus a small amount as you won't receive a fraction of a share.


  • #10
    Value Hunter
    Closed Accounts Posts: 337 ✭✭Value Hunter


    Alibaba wrote: »
    I own 1000 shares in Elan.
    Does that mean i will receive $6.25 per share in cash ?

    Yes and a certain amount of shares in the new company estimated to be worth $10.25 per share of elan.

    In total about $16.50, depending that the shares in the new company are worth what they say they are

    In total you should be looking at $16,500


  • #11
    Alibaba
    Registered Users, Registered Users 2 Posts: 506 ✭✭✭Alibaba


    Value Hunter wrote: »
    Yes and a certain amount of shares in the new company estimated to be worth $10.25 per share of elan.

    In total about $16.50, depending that the shares in the new company are worth what they say they are

    In total you should be looking at $16,500

    Nice one. Thanks folks


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  • #12
    losthorizon
    Registered Users, Registered Users 2 Posts: 4,565 ✭✭✭losthorizon


    I have just 110 shares in Elan and am just €300 euro in profit at the moment. Do people think I should sell or hold out for the offer? I bought the shares a long time ago.


  • #13
    Value Hunter
    Closed Accounts Posts: 337 ✭✭Value Hunter


    losthorizon wrote: »
    I have just 110 shares in Elan and am just €300 euro in profit at the moment. Do people think I should sell or hold out for the offer? I bought the shares a long time ago.

    If it was me i'd sell now at $15.75 per share, you'll guarantee your money while their isn't a huge difference in the takeover offer price, most of which is in shares in the new company which mightn't stay the same value as claimed.


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