The Telit Communications takeover saga is poised to draw to a close this week thanks to the hedge funds that recently bought up almost 8pc of the 'internet of things' company...
Posts tagged: Telit Communications
One of Telit Communications largest shareholders plans to vote against Dbay's revised £320 million offer for the company.
This week Dbay increased its offer for Telit to 229.5p a share after delaying last week's shareholder vote when it became clear the private equity fund wouldn't have enough support to approve the scheme of arrangement to take the company private at the previously recommended 220p a share...
Betaville notes activist private equity firm Dbay Advisers has just increased its offer for Aim-listed "internet of things company" Telit Communications by another £20 million.
Dbay is now offering 229.5p a share for Telit and also made it "final". The move comes after it became clear investors weren't going to back the last scheme of arrangement vote. Below is the link to the deal announcement:..
The shareholder meetings to approve Dbay's 220p a share offer for Telit Communications have been delayed. Why isn't that a surprise! Below is the link to this morning's press release:
It turns out old Richard, the "Welsh Wizard", Griffiths now has 9.55pc of Telit Communications and plans to vote for the 220p a share offer from Dbay Advisors this week.
Well, that's according to a statement released by Dbay at lunchtime today. Below is the link:..
One of the largest shareholders in Telit Communications is preparing to vote against Dbay's £300 million takeover offer for the Aim-listed 'internet of things' provider.
Betaville understands Oozi Cats, the founder of Telit who still owns around 12pc of the company, isn't going to vote for the sheme of arrangement at next week's shareholder meeting...
This morning Dbay Advisers, the activist private equity firm trying to buy Telit Communications, said that Compass Asset Management is no longer supporting its 220p a share offer for the Aim-listed 'internet of things' company.
Dbay added that Compass - a little known fund manager based in Lugano, Switzerland - said it now plans to abstain in voting for the scheme of arrangement next week. Below is the link to the statement:..
It sounds like Dbay is a tad worried about a potential interloper coming in for Telit Communications, the Aim-listed 'internet of things' designer.
That's because word reaches Betaville that the activist investor and private equity firm may have struck an agreement with Telit to be able to sell the due dligence it carried out on the company to a rival acquirer should one emerge from the shadows...
Betaville notes Richard Griffiths, dubbed the "Welsh Wizard" in London's Square Mile, has in recent days been converting his derivative position in Telit Communications into phyiscal equity.
One assumes the canny investor has done this so that he can vote the stock at the upcoming shareholder meeting on whether to accept Dbay's controversial 220p a share offer for the company...
Have you ever seen a UK-listed company's board recommend a cash takeover offer for a business but at the same time stress it fundamentally undervalues the business?
Well, that is what has just happened this morning at Telit Communications, the Aim-listed 'internet of things' designer that can't stop generating controversy...
With Telit Communications back in play the spotlight is on some of the big investors that could seal the company's fate.
One investor that will likely have a role is Davide Serra, the Italian hedge fund manager who runs Algebris.
Serra has held a personal stake (i.e. a shareholding in his own name rather than through his fund) in Telit for quite some time. Indeed, in 2018 he disclosed via RNS he controlled 7pc of the company...
An American company is circling Telit Communications, the Aim-listed 'internet of things' designer.
People following the situation said a US-listed firm is working with advisers from Barclays on a possible combination with Telit.
The firm is said to have approached senior executives at Telit in recent weeks, said people following the situation...
Telit Communications faces a shareholder backlash over Dbay's latest attempt to take the company private.
People following the situation said large shareholders in the Aim-listed 'internet things of designer' are furious about how talks with Dbay have transpired.
Yesterday, it emerged that Telit's board has given Dbay Advisors the opportunity to carry out due diligence on the business without indicating what price it would be prepared to recommend an offer...
Dbay Advisors is said to be back in talks with Telit Communications about a takeover offer for the Aim-listed 'internet of things' designer.
People following the situation said Dbay, which has in recent weeks built up a shareholding of over 26pc in Telit, has been carrying out due diligence on the company with a view to making a formal recommended offer for the business...
Old Richard, the "Welsh Wizard", Griffiths has been boosting his stake in Telit Communications, the Aim-listed 'internet of things' provider.
Griffiths is well known in City of London circles for being a savvy investor with stakes a variety of companies, including Talk Talk, the the broadband company that was recently bought by Toscafund, it's largest shareholder.
And according to recent filings Griffiths now owns 9.06pc of Telit. Below is the link to the RNS announcement:..
After last week's excitement it might have passed you by that Dbay, the activist investor led by Colin Kingsnorth, has now accumulated just over 26pc of Telit Communications, the Aim-listed 'internet of things' provider.
Below is the link to the announcement:..
Dbay Advisors, the activist investor, has increased its shareholding in Aim-listed 'internet of things' designer Telit Communications to 25.79pc. Below is a link to yesterday's announcement:
Another week, another increase in Dbay's shareholding in Telit Communications, the Aim-listed 'internet of things' designer.
This morning it was disclosed that Dbay, which in December offered 194.8p a share for Telit Communications, now owns 23pc of the business. Below is the link:..
If you were wondering why shares in Telit Communications, the Aim-listed 'internet of things' designer, have been so strong since it called of deal talks with Swiss rival U-blox look no further than Dbay, the activist firm led by renowned investor Colin Kingsnorth.
Dbday, which offered 190p for the business in December, just announced it has bought another 3pc of Telit Communications, taking its shareholding up to 21.20pc. Below is the link:..
I note that shares in Telit Communications, the Aim-listed 'internet of things' provider, have hardly moved since U-blox pulled out of its offer for the business earlier in the week.
Does anybody else find this strange?
Typically after deal talks are called off the target company's share price drops signficicantly or in some cases collapses by as much as 30pc...
So, it would appear the chaps at Dbay weren't the only investors hoovering stock in Telit Communications, the Aim-listed 'internet of things provider' last week.
Richard Griffiths - one of the savviest small cap punters in London market who is also known as the "Welsh Wizard" - also took advantage of last week's shortlived dip in the share price following the company's decision to end talks with U-blox, the Swiss chip group...
Activist fund Dbay has just increased its stake in Telit Communications to 18.52pc after backing out of making an offer for the business in December. Below is a link to yesterday's RNS with the details.
The shenanigans at Telit Communications continue unabated, with Dbay this morning saying it has decided not to make an offer for the 'internet of things' company after all.
Dbay, one of the Aim-listed company's largest shareholders, also said it won't back a 250p a share all stock offer from Switzerland's U-blox, which has also been stalking Telit. Below is the link:..
It would appear the chaps over at Dbay are really cranking up the negotiations over Telit Communications, the Aim-listed 'internet of things' company.
Dbay, run by feared activist investor Colin Kingsnorth, has just put out a statement saying it is considering (note the "considering") submitting an offer of £1.90 a share for Telit and that U-blox's all paper £2.50 a share offer isn't worth the paper it is being issued with.
Below is the link:..
Voila: U-blox and Telit Communications have confirmed Betaville's RARE ALERT from yesterday afternoon.
Below are links to their respective confirmations:
Another day, another stakebuild in Telit Communications by the mysterious DBay Advisors.
Today DBay, which has already submitted a takeover approach for the whole company, said it now owns 15.37pc of the 'internet of things' provider. Below is the link to today's announcement:..
DBay advisors has just upped its stake in Telit Communications.
According to regulatory filings DBday now owns just over 15pc of the 'internet of things' designer.
In case you don't recall, DBay is one of the companies that has submitted a takeover approach for Telit Communications.
One presumes the canny investment manager, led by wily Colin Kingsnorth, suspects his firm is likely to face competition for Telit Communications.....
I see Telit Communications has finally confirmed yesterday's RARE ALERT on Betaville Intelligence. Below are the links to today's confirmation and yesterday's story:
Telit Communications, the Aim-listed internet of things designer, is said to be "in play", with Canadian rival Sierra Wireless, activist investor Dbay and a mystery private equity firm all rumoured to be "actively" circling the business.
People following the situation have heard speculation Sierra Wireless may have already recently offered around 206p a share for Telit...
Fresh details have emerged about the backers of Run Liang Tai Management, the secretive Chinese investor that has become Telit Communications largest shareholder.
Sunsea Telecommunications, a Shenzhen-listed 'internet of things' provider in which Run Liang is a large shareholder, is said to have disclosed the Chinese group's financial and strategic backers for the first time.
The investors in Run Liang are listed below:
1. Shanghai Xiyuxiang Investment Company..
No sooner than I had published my last post on Telit Communications than Richard "Griffo" Griffiths upped his stake in the internet of things provder.
Griffiths, a multi-millionaire small cap punter that co-founded City broker Evolution, now owns 6pc of Telit Communications. See the link below:..
Dbay has quietly increased its stake in Telit Communications, the internet of things provider that has courted its fair amount of controversy and takeover speculation.
According to recent filings, Dbay - run by ex Laxey Partners value investor Colin Kingsnorth - now owns around 11.57pc of Telit, making it one of the largest shareholders alongside the mysterious Chinese group Run Liang. Below is a link to the relevant RNS:..
The curious goings on at Telit Communications continue unabated.
Betaville hadn't noticed that after Dbay suddenly turned up on the shareholder register with almost 10pc that super secretive Hong Kong-based tycoon Tang Hao had also recently been amassing a 3.4pc shareholding in the 'internet of things' provider through his vehicle Discovery Key Investments...
For a small company internet-of-things provider Telit Communications certainly gets a lot of attention.
I guess that's to be expected if your former chief executive turns out to be a fugitive on the run from the US authorities and then an unknown Chinese outfit builds a near 16pc shareholding in your business, raising speculation the company is a takeover target for the stakebuilder...
Is the end game for colourful Telit Communications fast approaching?
Well, there has been talk about interest in a combination with Canada's Sierra Wireless for the last twelve months but so far no formal confirmation has emerged.
Meanwhile, Telit's shareholder register becomes increasingly eclectic, with Richard Griffiths recently declaring he now has a stake of 7.5pc in the "Internet of Things" chip company. Below is the link:..
Sierra Wireless is said to be circling Telit Communications, the Aim-listed Internet of Things device manufacturer.
Sierra Wireless, a Canadian IoT company, is thought to be interested in an all-share combination with Telit and is believed to have informally sounded out some of the company's shareholders about a deal, said sources claiming to be familiar with the matter...
Voila! Controversial Telit Communications has finally confirmed it has struck a deal to sell its automotive division for $105 million - $125 million. Below is the link:
Telit Communications, the London-listed internet of things provider, has promoted a senior executive to head a new automotive business unit, signalling the company is close to selling the division to a potential buyer for between £100 million and £150 million.
Dirk Reimer, previously a vice president, has just been made managing director of Telit's new integrated automotive division, said sources claiming to be familiar with the matter...
The mysterious Chinese company that has built a sizeable shareholding in Telit Communications has increased its stake in the business, raising speculation it is getting closer to making an offer for some or all of the business.
This morning Run Liang Tai Management disclosed it has increased its stake to 15.2pc from 14pc on the UK's regulatory news service...
The mysterious Chinese investor that has quietly built a 14pc stake in Telit Communications has emerged as one of the largest investors in a listed Chinese corporation that has been consolidating the "internet of things" market.
Last year Run Liang Tai Management built up a substantial shareholding in Aim-listed Telit after the company's founder, Oozi Katz, became embroiled in a scandal about his true identity...
Embattled Aim-listed "internet of things" company Telit Communications has finally confirmed it has appointed Richard Kilsby, the former boss of 888, as non-executive chairman. Below is a link to the release:
The news comes after Betaville and The Sunday Times revealed the likely appointment of Kilsby just over a couple of weeks ago. Here are the links to those pieces:..
Telit Communications is lining up the former boss of onling gambling group 888 Holdings to become its new chairman.
According to sources in the recruitment industry, headhunting firm Korn Ferry recently put Richard Kilsby, who stepped down as chairman of 888 Holdings in 2015, on the shortlist of potential candidates to become the embattled company's new chairman...