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bluesky001 Member	14-Jul-2017 13:33        bluesky001 About Contact  Quote this Post!
x 0   x 0  Alert Admin	And dont forget, once the deal is announced, the acquirer will come into scoop up any available shares at or below the offer price...
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Andrewtan18 Senior	14-Jul-2017 12:33        Andrewtan18 About Contact  Quote this Post!
x 0   x 0  Alert Admin	There will be because you only need to have a spread sufficient to cover buy/sell expenses. There is a thing called scalping in the market where you simply offset the intra-day buy sell transactions and pay next to nothing in brokerage. Obviously you need huge volume to profit from a one to two cents spread margin but it can be worth it if you deal in tens or hundreds of million shares. Likely to see huge buy and sell volume on a thin spread where arbitragers queue simultaneously on both side of the market.  gopguppy      ( Date: 14-Jul-2017 09:53) Posted: If the trading resumes, and the price catches up close to offer price, I wonder who will buy the shares knowing very well that there is very limited upside to the price? So if there are no buyers, there can be no sellers. Am I right? Andrewtan18      ( Date: 14-Jul-2017 09:44) Posted: Now waiting for official announcement of offer and offer price which should be today or tomorrow. Trading resume and market will obviously trade to offer level otherwise arbitragers will buy to profit from difference. The details need to be known about the nature of the offer, whether it is a scheme of arrangement, if there is a mandatory offer required for minority shareholders, and whether offeror is taking the company private. There are too many permutations and conditions which you can read in the 200 page Code on Merger and Takeover. The takeover process is governed by the SIC.  For us investors it is either to sell in the market or through the offer process which will take time to run through. Normally you sacrifice a few cents and sell off in the market if you do not want to wait out the process unless you believe there will be hostile and competing offers coming from other parties.
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mintymint Member	14-Jul-2017 11:21        mintymint About Contact  Quote this Post!
x 0   x 0  Alert Admin	https://www.wsj.com/articles/global-logistic-properties-picks-chinese-group-as-preferred-bidder-1499933058 http://www.foxbusiness.com/features/2017/07/13/global-logistic-properties-picks-chinese-group-as-preferred-bidder.html The group is offering around 3 Singapore dollars (US$2.18) a share, one of the people familiar with the deal said. That is slightly above the S$2.70 price that GLP shares last traded at on Wednesday, prior to a trading halt Thursday morning. The offer would value the company at around S$14 billion (US$10.2 billion), based on the number of shares outstanding. The consortium is likely to get a pledge from GLP' s largest shareholder, Singapore sovereign-wealth fund GIC Pte Ltd., to sell its shares to the group, the people familiar with the deal said, which would effectively clinch the deal. GLP is likely to make an announcement on the deal by the end of the week, the people said.
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stlimst Master	14-Jul-2017 10:22        stlimst About Contact  Quote this Post!
x 0   x 0  Alert Admin	The 6 cents dividend already declared (ex-date 3 Aug), shall be payable. Dont have to factor this into the offer price. The committee, adviced by JP Morgan, is negotiating on the final offer from the Chinese bidders. The main drive of unlocking value of GLP is what prompted GIC to demand for the review. I dont think GIC is only to accept bid that  is not reflective of the true value of GLP. My take is that fair offer should be between $3.20 - $3.40   Happy investing
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TMW1986 Master	14-Jul-2017 10:15        TMW1986 About Contact  Quote this Post!
x 0   x 0  Alert Admin	You are right, i presume the same also so not queuing. But pity befote it halts i didnt buy more at $2.70. gopguppy      ( Date: 14-Jul-2017 10:14) Posted: My sense is there is no point to queue now. To prevent a wild swing of price in the market, I suspect announcement and end of trading halt will only take place after trading hours. Cld be end of today or early monday morning.
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gopguppy Veteran	14-Jul-2017 10:14        gopguppy About Contact  Quote this Post!
x 0   x 0  Alert Admin	My sense is there is no point to queue now. To prevent a wild swing of price in the market, I suspect announcement and end of trading halt will only take place after trading hours. Cld be end of today or early monday morning.
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TMW1986 Master	14-Jul-2017 10:00        TMW1986 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Selling at $2.80 is fake one. Because now no offer price. So when got firm offer price, by right no one will be stupid enough to sell at below $3. TMW1986      ( Date: 14-Jul-2017 09:58) Posted: Agreed. If offer price is $3.20, at $3.10 i will also buy. Because still free 3%. Lets see the offer price. Now is too early. But should have at least $3.06. $3.20 is decent. JF_123123123      ( Date: 14-Jul-2017 09:55) Posted: --- Post Removed by User ---
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TMW1986 Master	14-Jul-2017 09:58        TMW1986 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Agreed. If offer price is $3.20, at $3.10 i will also buy. Because still free 3%. Lets see the offer price. Now is too early. But should have at least $3.06. $3.20 is decent. JF_123123123      ( Date: 14-Jul-2017 09:55) Posted: --- Post Removed by User ---
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gopguppy Veteran	14-Jul-2017 09:53        gopguppy About Contact  Quote this Post!
x 0   x 0  Alert Admin	If the trading resumes, and the price catches up close to offer price, I wonder who will buy the shares knowing very well that there is very limited upside to the price? So if there are no buyers, there can be no sellers. Am I right? Andrewtan18      ( Date: 14-Jul-2017 09:44) Posted: Now waiting for official announcement of offer and offer price which should be today or tomorrow. Trading resume and market will obviously trade to offer level otherwise arbitragers will buy to profit from difference. The details need to be known about the nature of the offer, whether it is a scheme of arrangement, if there is a mandatory offer required for minority shareholders, and whether offeror is taking the company private. There are too many permutations and conditions which you can read in the 200 page Code on Merger and Takeover. The takeover process is governed by the SIC.  For us investors it is either to sell in the market or through the offer process which will take time to run through. Normally you sacrifice a few cents and sell off in the market if you do not want to wait out the process unless you believe there will be hostile and competing offers coming from other parties.  HiFive123      ( Date: 13-Jul-2017 23:33) Posted: Brother, What' s next
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FATABA Supreme	14-Jul-2017 09:52        FATABA About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	Surprise no news from GLP .....most likely awaiting bro GIC to confirm on the final offer from chinese gp. ​ ( actually it reallydepends on this offer.....if 3.20 and above....I guess the other bidders wld happily sell it to them) ​ However, if the deal is aro the $3.06 level....a hostile battle might come .....warsburg and others cld scoop share in the open market. ​ Chinese GP might not be able to gather 75%.  ( If warburg high offer is 3.50 ....they shld be able to take up at 3.20 ....) ​ I am not surprise if there is hostile battel for GLP .  It will be very interesting if offer is low. Let see.
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HiFive123 Member	14-Jul-2017 09:51        HiFive123 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Thanks for the input !  Likely will wait to till the quarter result announcement and see how it goes.   Andrewtan18      ( Date: 14-Jul-2017 09:44) Posted: Now waiting for official announcement of offer and offer price which should be today or tomorrow. Trading resume and market will obviously trade to offer level otherwise arbitragers will buy to profit from difference. The details need to be known about the nature of the offer, whether it is a scheme of arrangement, if there is a mandatory offer required for minority shareholders, and whether offeror is taking the company private. There are too many permutations and conditions which you can read in the 200 page Code on Merger and Takeover. The takeover process is governed by the SIC.  For us investors it is either to sell in the market or through the offer process which will take time to run through. Normally you sacrifice a few cents and sell off in the market if you do not want to wait out the process unless you believe there will be hostile and competing offers coming from other parties.  HiFive123      ( Date: 13-Jul-2017 23:33) Posted: Brother, What' s next
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TMW1986 Master	14-Jul-2017 09:47        TMW1986 About Contact  Quote this Post!
x 1   x 0  Alert Admin	Let's pray for $3.20 and with dividends. Andrewtan18      ( Date: 14-Jul-2017 09:44) Posted: Now waiting for official announcement of offer and offer price which should be today or tomorrow. Trading resume and market will obviously trade to offer level otherwise arbitragers will buy to profit from difference. The details need to be known about the nature of the offer, whether it is a scheme of arrangement, if there is a mandatory offer required for minority shareholders, and whether offeror is taking the company private. There are too many permutations and conditions which you can read in the 200 page Code on Merger and Takeover. The takeover process is governed by the SIC.  For us investors it is either to sell in the market or through the offer process which will take time to run through. Normally you sacrifice a few cents and sell off in the market if you do not want to wait out the process unless you believe there will be hostile and competing offers coming from other parties.  HiFive123      ( Date: 13-Jul-2017 23:33) Posted: Brother, What' s next
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Andrewtan18 Senior	14-Jul-2017 09:44        Andrewtan18 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Now waiting for official announcement of offer and offer price which should be today or tomorrow. Trading resume and market will obviously trade to offer level otherwise arbitragers will buy to profit from difference. The details need to be known about the nature of the offer, whether it is a scheme of arrangement, if there is a mandatory offer required for minority shareholders, and whether offeror is taking the company private. There are too many permutations and conditions which you can read in the 200 page Code on Merger and Takeover. The takeover process is governed by the SIC.  For us investors it is either to sell in the market or through the offer process which will take time to run through. Normally you sacrifice a few cents and sell off in the market if you do not want to wait out the process unless you believe there will be hostile and competing offers coming from other parties.  HiFive123      ( Date: 13-Jul-2017 23:33) Posted: Brother, What' s next ? Andrewtan18      ( Date: 12-Jul-2017 12:41) Posted: It is a fallacy to expect a takeover price to be based on a certain premium over the prevailing market price. All takeovers valuation are done based on the true book value of the business with some premium as incentive for the biggest shareholder to want to sell.  No one is going to bid based on a % premium over current market level. If market were to be at $2 and a bidder pays $2.60 do you think GIC will sell. Similarly, should speculators go crazy and drive price up to $3.00, do you think the buyer will bid at $3.90 ? One would expect, in a takeover situation,  for market to do an evaluation of the fair value of the business and for market trade to around that level. Then it is up to the bidding party to place a little premium as incentive to encourage the sale. However, one often find that pure speculation in the market pushes the company share price to a level inclusive of expected premium. This is natural as who does not one to punt on a 20 to 30 % profit based on the expected premium. The important thing to remember is that even if GIC were to accept the offer the buyer will still have to receive acceptance from remaining minority shareholders to achieve the 50% controlling interest under the takeover process and that is when the need to " manipulate" the market a little bit so that existing holders have a slight profit as incentive to accept offer price. This is the period before the offer price is made known publicly. The moment the offer price is known the market would have pushed it to that level for obvious reason.  Do not therefore be swayed by the price behaviour in this critical period. Remember, there is an activist hedge fund, Elliot Management (Paul Singer), who increased their stake last month to   2.5%.  Not sure if they have exited. If not, they are going to give the Chinese a hard time in this acquisition. Paul Singer' s funds have even battled with Warren Buffett in the past.
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TMW1986 Master	14-Jul-2017 09:36        TMW1986 About Contact  Quote this Post!
x 0   x 0  Alert Admin	I bought 300 lots at 2.79 few days back. Intend to whack more la. See got people stupid put 2.80 to 2.90. Lol. JF_123123123      ( Date: 14-Jul-2017 09:26) Posted: --- Post Removed by User ---
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TMW1986 Master	14-Jul-2017 09:21        TMW1986 About Contact  Quote this Post!
x 0   x 0  Alert Admin	When going to lift halt? If got 2.80 to 2.90 just whack. HiFive123      ( Date: 13-Jul-2017 23:33) Posted: Brother, What' s next ? Andrewtan18      ( Date: 12-Jul-2017 12:41) Posted: It is a fallacy to expect a takeover price to be based on a certain premium over the prevailing market price. All takeovers valuation are done based on the true book value of the business with some premium as incentive for the biggest shareholder to want to sell.  No one is going to bid based on a % premium over current market level. If market were to be at $2 and a bidder pays $2.60 do you think GIC will sell. Similarly, should speculators go crazy and drive price up to $3.00, do you think the buyer will bid at $3.90 ? One would expect, in a takeover situation,  for market to do an evaluation of the fair value of the business and for market trade to around that level. Then it is up to the bidding party to place a little premium as incentive to encourage the sale. However, one often find that pure speculation in the market pushes the company share price to a level inclusive of expected premium. This is natural as who does not one to punt on a 20 to 30 % profit based on the expected premium. The important thing to remember is that even if GIC were to accept the offer the buyer will still have to receive acceptance from remaining minority shareholders to achieve the 50% controlling interest under the takeover process and that is when the need to " manipulate" the market a little bit so that existing holders have a slight profit as incentive to accept offer price. This is the period before the offer price is made known publicly. The moment the offer price is known the market would have pushed it to that level for obvious reason.  Do not therefore be swayed by the price behaviour in this critical period. Remember, there is an activist hedge fund, Elliot Management (Paul Singer), who increased their stake last month to   2.5%.  Not sure if they have exited. If not, they are going to give the Chinese a hard time in this acquisition. Paul Singer' s funds have even battled with Warren Buffett in the past.
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HiFive123 Member	13-Jul-2017 23:33        HiFive123 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Brother, What' s next ? Andrewtan18      ( Date: 12-Jul-2017 12:41) Posted: It is a fallacy to expect a takeover price to be based on a certain premium over the prevailing market price. All takeovers valuation are done based on the true book value of the business with some premium as incentive for the biggest shareholder to want to sell.  No one is going to bid based on a % premium over current market level. If market were to be at $2 and a bidder pays $2.60 do you think GIC will sell. Similarly, should speculators go crazy and drive price up to $3.00, do you think the buyer will bid at $3.90 ? One would expect, in a takeover situation,  for market to do an evaluation of the fair value of the business and for market trade to around that level. Then it is up to the bidding party to place a little premium as incentive to encourage the sale. However, one often find that pure speculation in the market pushes the company share price to a level inclusive of expected premium. This is natural as who does not one to punt on a 20 to 30 % profit based on the expected premium. The important thing to remember is that even if GIC were to accept the offer the buyer will still have to receive acceptance from remaining minority shareholders to achieve the 50% controlling interest under the takeover process and that is when the need to " manipulate" the market a little bit so that existing holders have a slight profit as incentive to accept offer price. This is the period before the offer price is made known publicly. The moment the offer price is known the market would have pushed it to that level for obvious reason.  Do not therefore be swayed by the price behaviour in this critical period. Remember, there is an activist hedge fund, Elliot Management (Paul Singer), who increased their stake last month to   2.5%.  Not sure if they have exited. If not, they are going to give the Chinese a hard time in this acquisition. Paul Singer' s funds have even battled with Warren Buffett in the past.  gopguppy      ( Date: 12-Jul-2017 10:33) Posted: I am not sure about the 2.75 mark though. When the Chinese put in the binding bid, the share price was about 2.85-2.88 that week. So they wld have made their calculation based on this, I think. Also, at that point in time, Walburg  is still in the picture, and the Chinese would have taken that into consideration. That' s why I think their offer will be above 3.1 at the very least. (1.1X2.85). By the way, can any bidder lower a price after a binding bid is made
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FATABA Supreme	13-Jul-2017 22:26        FATABA About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	it is reported that the offer is to be ABOVE the full value of GLP ( by analysis @3.06) .....so if this report is to be trusted. It will b more than 3.06. ​ There is a mark different w UE.  GLP owner GIC has NOT agreed to any price yet. It the chinese gp wish of offer ( binding) ​ Further GLP is profitable, global and in a growth Ecomm sector w world class customer. ​ We just have to wait patiently for the official price.  And further....I am certain if the HALT is lifted....many wld rush in to buy till its aro3+. ​ GIC is the main factor agrain. hp3000      ( Date: 13-Jul-2017 21:49) Posted: Just like UE dragging for too long liao. Will it get an lousy offer lower than current price ?
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lglg666 Supreme	13-Jul-2017 21:53        lglg666 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Hope this one will do better than UE......suddenly all my expectations take a huge hit and now I'm back on earth. I'll be happy if can see offer coming in above $3 mark. lglg666      ( Date: 13-Jul-2017 20:17) Posted: Yes....I'm one of those who kpkb having read about the offer price for UE lucky that have already collected the dividend. HazardKoh      ( Date: 13-Jul-2017 18:38) Posted: I remember last time got a few takeovers, then everyone very bullish but then when the offer price was annouce, the price  was lower than trading price and all the bullish ppl who vested kpkb.. U look at UEL (united engineering), share price trading at $3, latest just out, offer price just only $2.60 Perennial Leads Consortium with Yanlord to Acquire 33.5% Stake in United Engineers and up to 29.9% Stake in WBL Corporation for a Total Consideration of S$729.7 million ?X Mandatory Conditional Cash Offer Triggered for UEL Ordinary Shares at an Offer Price of S$2.60 for each UEL Ordinary Offer Share ?X Mandatory Unconditional Cash Offer Triggered for UEL Preference Shares at an Offer Price of S$2.60 for each UEL Preference Offer Share ?X Possible Mandatory Unconditional Cash Offer for WBL Ordinary Shares at an Offer Price of S$2.07 for each WBL Offer Share, subject to the satisfaction of the Chain Offer Condition So i think offer price for GLP may not be what we expect. There is a risk..
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kerier Veteran	13-Jul-2017 21:52        kerier About Contact  Quote this Post!
x 0   x 0  Alert Admin	seems bloomberg was accurate on UE' s offer, I guess it should be the same for GLP.. around $3. At least still higher than current price. hp3000      ( Date: 13-Jul-2017 21:49) Posted: Just like UE dragging for too long liao. Will it get an lousy offer lower than current price ?
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hp3000 Veteran	13-Jul-2017 21:49        hp3000 About Contact  Quote this Post! Style: Combined   Mood: Yells: "Huart Ah !! Count $$$$$ liao"
x 0   x 0  Alert Admin	Just like UE dragging for too long liao. Will it get an lousy offer lower than current price ?
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