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- Rob Terry said to up stake in Imaginatik; may try to get to 29pc, oust chairman or eventually bid - part 2
- More Chinese whispers
- Rob Terry said to up stake in Imaginatik; may try to get to 29pc, oust chairman or eventually bid
| Posted: 27 Apr 2016 01:29 AM PDT I see Quob Park Estate, Rob Terry's investment vehicle, has this morning confirmed by tale from yesterday, disclosing on the RNS that he now owns 8.67pc of software consulting company Imaginatik. Here is the link: http://www.investegate.co.uk/imaginatik-plc--imtk-/rns/holding-s--in-company/201604270904094898W/ I would keep an eye on this situation as I would expect it to get quite fruity...  |
| Posted: 27 Apr 2016 01:29 AM PDT Dom Walsh's piece on the Tui Hotelbeds auction caught my eye this morning. Dom - the City's top leisure reporter over at The Times who knows his sector back to front - reports that the final round bidders for Hotelbeds are Cinven, Kuoni/EQT and a mystery Chinese bidder based in Shenzhen, China. Cinven is said to be leading the pack of bidders, according to an earlier Bloomberg report. Dom's article also reveals that five Chinese bidders submitted first round indicative offers. (I would provide you with the link but I can't because The Times have done something funny with their website) His tale would seem to corroborate yesterday's talk that Chinese companies' appetite for Western companies is increasing rather than waning; and that my market report column in the Daily Mail a few weeks ago was barking up the right tree. Here is the link: http://www.thisismoney.co.uk/money/markets/article-3530441/MARKET-REPORT-Travel-operator-Tui-talking-point-amid-rumours-Chinese-interested-purchasing-Hotelbeds-division-800m.html However, since yesterday's "Flag pole alert" update, I have had a few top sources reach out to voice their scepticism about the possibility of a Chinese bid for a FTSE 100 company. That's because Chinese companies (other than Li Ka-Shing's Cheung Kong Infrastructure) often have to get approval for deals from the Chinese government once they agree the rough terms of a deal. So, there is a view that the Takeover Panel wouldn't accept such levels of "conditionality" attached to a Footsie bid.  |
| Rob Terry said to up stake in Imaginatik; may try to get to 29pc, oust chairman or eventually bid Posted: 26 Apr 2016 11:59 AM PDT Rob Terry is boosting his stake in Imaginatik, the AIM-listed "full service innovation company" (whatever that means). For readers that don't recall, I revealed a few weeks ago that the controversial businessman and founder of Quindell started to re-build a stake, via his vehicle Quob Park Estate vehicle, in Imaginatik. Here is the link: http://betaville123.blogspot.co.uk/2016/04/quelle-surprise-rob-terry-confirms-he.html According to well-placed sources, Quob Park Estate - which currently owns 5.36pc of Imaginatik - will likely soon announce on the regulatory news service it has bought more shares in the market. I also understand Terry has told his brokers at Daniel Stewart to find other large shareholders in Imaginatik that are willing to sell stock at 5p a share. City sources said Terry is looking to build a large stake, possibly up to 29pc, in Imaginatik with a view to one day making a full on takeover bid for the company. Indeed, earlier today Quob Park Estate tweeted:
According to sources, the "strategy changes" Quob Park Estate refers to in its Tweet would likely involve replacing Imagination's chairman, Matt Cooper. However, Cooper owns around 26pc of Imaginatik, so it's hard to see how Quob Park Estate will replace him or get him to sell. None of the parties involved would comment.  |
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