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Fishinnick

25,668 Posts.

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18/12/17

11:15

Post #: 29702891
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Originally posted by mo72 ↑

Morning all!!

A very interesting Christmas present to all of us who have been holding this for a long time! The timing is what interests me - Oracle have made a very clever play for ACX leading in to the holiday period in the hope that they at least get a jump on their competitors.

A 1% break fee if they do not get ACX is a rounding error but will cover their bid costs if they get out-bid by one of the other big boys. Will be fascinating to see where this trades at 11am as there is a good chance it will be above the $7.80 - why - because this is an absolute bargain for Oracle and because, I hope, their competitors will see that. I don't blame management at all. They have locked in a base price at a 47% premium in a market where the analysts have never understood the value of ACX and there was a good chance they never would. Also, if they knocked this back convincingly there is also a good chance Oracle would have had a crack at Procore and, if they bought that, then ACX would have been up against a competitor with a development budget in the billions.

There is only one chance to dominate this market without spending a ludicrous amount of money to try and replicate what ACX has - I hope others recognise this and a bidding war takes this past its previous high so those few who bought in the $8's and are still holding get a profit too. The best price is always at an auction and Oracle are currently playing the part of the buyer's advocate with an attempt at a knock-out bid! I just hope 2-3 others decide to put their Christmas plans on hold and get stuck in!

Good luck to all!
MO

As always, DYOR!!

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Yeh, no point selling now imo, not only will March push some of my buys over the 12 mths but further bids may come and if not then 7.80 is 7.80.

Best Wishes Everyone, have a happy and safe Christmas.

ACX Price at posting: $7.63 Sentiment: Buy Disclosure: Held
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Not in a rush, page-7

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