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London Bridge Software - Hold or Sell? (LNB)     

gildph - 26 Apr 2004 21:43

Does anyone believe there may be a higher counter offer or a rejection of the offer believing there's greater potential for this stock? Are people holding shares in anticipation or would now be a good time to take the profits?

hawick - 26 Apr 2004 22:43 - 2 of 5

Done deal in effect i think. 46.2% irrevocable acceptances (so they won't sell to a higher bidder) gildph and sure today's volume would partly be the bidder picking up any stock under 95p in the market. I have to be honest i think it is a fair value offer and, not that it would make any difference, i am prepared to accept it!

goldfinger - 27 Apr 2004 00:05 - 3 of 5

Hawick, glad you took my advise and got in on these. Hope tenby did the same.

Must admit though I wish I had more but having said that I see my mate old Stan at Caldwell Investments is bringing the bacon home.

cheers GF.

ps, stick with RAB, its going to perform no problems.

hawick - 27 Apr 2004 09:08 - 4 of 5

I ain't dumping RAB mate, quite the opposite! Nice one Caldwell must be up about 200% for you!

PS You still interested in getting into that Aim stock that came from Ofex GF?

happy to watch - 27 Apr 2004 15:11 - 5 of 5

Chances are there will be another offer, this is a cheeky bid that doesn't fully value London Bridge.

There is a cost to LB if they go with someonw else of 1.65M. That said, if the directors change their mind because of an offer that was 20% higher then who cares.

My summary is that this is by no means a done deal yet, obtaining 90% of votes is a long way off from 46.2% and that is what the aquirer has to do.

Stay the course and see what develops, you can't lose. At 93-95 you lose 2p on the cash offer + you have to pay dealing fees so it makes no sense to sell.

DYOR and good luck.
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