Robert Wiseman Takeover Agreed

I bought into the shares in May 2011 at 310p watched the price move all the way down to mid 250s and was thinking of cutting my losses when the takeover news came out on Friday... I quickly sold out at 330p feeling pleased with myself only to check the price this morning...Totally sick as a parrot...would have made an additional 18% had I waited..cest la vie as they say..

I bought in at 314 in Feb and have seen the shares decline in value ever since. Pretty happy today. I'm taking the bird in the hand is worth 2 in the bush view.

Plenty of shares have promised long term strong div only to hit the rocks.

Having bought last November at just under 250, being offered 390 (+ the imminent dividend) is a bit unexpected, but quite nice.

This is the first time I've faced a takeover offer. How does this work? Is the Muller offer for any/all existing shares (even my small amount)? How does a small shareholder accept the 390p offer?

I'm presuming that selling on the market at the market price (currently 387.5) is different to selling to Muller, but maybe I'm over-complicating things?

Can we hope for a similar deal for Dairy Crest now?

I'm in the same position as SteveKzz. What happens now? Do we sit on our shares until the div is paid and then sell? Or sell now and still get the div? How would Muller offer to buy our shares or would they offer Muller shares?

Any advice would be appreciated.

I wish I had sold out in 2010 when they were £5, but £3.90 is more than the £3.15 that I paid but I would have rather have kept them for 10 years and enjoyed the dividends.
Meanwhile, the previous day, my tesco shares bought for £3.80 dropped by 65p per share. Will someone be bidding for Tesco ?.

I bought in November at 281 (and yes, I followed it for a while after first reading about it here). In fact, I'm a little annoyed with myself because I was planning to average down if nothing happened in the next couple of months... but obviously not too annoyed. I usually sell too soon when good news arrives (although in the case of BSkyB that was a good thing (and I claim that I was suspicious that they were taking so long)), so I decided on Friday to wait this one out, but I was amazed at how quickly the offer was made final. I suppose that's what happens when a smal family firm gets a decent offer... and (in the current market, at least) a yield between 4% and 5% is probably decent.

Oh, and for those asking, the press release seems to indicate that it's an all cash offer.

Very Green trading novice here. Bought at bottom of the cliff at 334p in Sep'10, watched as my 'knife' continued to slip. Still felt RW is quality share; margin pressure caused by the retailer's price wars prompted RW to continued to tighten belts and trim costs. Lean as you like now. As for the offer; reading the announcements it seems to me that it's not quite a done deal:
Muller says it either owns, has received irrevocable undertakings or has a letter of intent over some 62.6% of Wiseman, however two of the 'irrecoverable undertakings' shareholders (Aviva Global and Majedie AM together holding 4.5%) have a let out clause if a third party offers 10% more than the 390p. Also the letter of intent shareholder (First Milk Ltd holds 10.1% and reserves the right to continue trading and accept any higher offer. So together they make 14.6% of the 62.6% to which Muller refers as committed. Assuming a 3rd party offers 1st Milk a little over 390, I presume they would be happy to sell. Then making an offer of 390p+39.1p ie 429.1p (10% above the offer price) would see Global and Maj absolved of their irrecoverable undertaking. Muller would then only hold or control something just short of the 50%. Share price rises to around the third party offer of 429.1p, and the rest of us sell at that price. Remember I'm only a tyro so be gentle.