Takeover by the end of june

[clashcityrocker]

https://www.printweek.com/content/news/ ... le-resumes

“Subject to the satisfaction or waiver (as applicable) of the other conditions, it is currently expected that the offer will become or will be declared unconditional by 30 April 2025.”

[TopperGas]

From CWU:

In addition, this clearance removes any lasting excuse from the current Royal Mail board who have resisted talks on all the outstanding issues covered in Section 5 of the CWU/EP Group, including pay and levelling up new entrants’ terms and conditions. We hope to commence pay talks imminently given this development.
Dave Ward
General Secretary
Martin Walsh
Deputy General Secretary (Postal)

I, like many others were under the impression that the current board weren't going to be dealing with the Section 5 stuff?

Won't the same excuse apply, if they want to use it, until shareholders vote and the results are known then there's always a chance the deal won't go through?

[Perseus]

From CWU:

In addition, this clearance removes any lasting excuse from the current Royal Mail board who have resisted talks on all the outstanding issues covered in Section 5 of the CWU/EP Group, including pay and levelling up new entrants’ terms and conditions. We hope to commence pay talks imminently given this development.
Dave Ward
General Secretary
Martin Walsh
Deputy General Secretary (Postal)

I, like many others were under the impression that the current board weren't going to be dealing with the Section 5 stuff?

Won't the same excuse apply, if they want to use it, until shareholders vote and the results are known then there's always a chance the deal won't go through?

Around 10 days ago the CWU were fire fighting angry members on Facebook saying that they cant get a payrise sorted as it had nothing to do with the outgoing board. Now they say they can deal with the current board over section 5 things like pay. Very mixed messages.
But you're right, I'd expect all sorts of can kicking going on until around September.

[Rick91]

It's pertinent to consider that the previous pay agreement was agreed at the end of the industrial action. This was 10% from 2022 - 2024 and accepted in July 2023. The CWU has ultimately sat on pay conditions since then. I appreciate that 2025 pay conditions were never going to be discussed in 2023, but to be completely devoid of any communication regarding this matter up until now is fairly appalling.

This isn't criticism of the CWU as a whole. I'm aware local reps do strive to support their colleagues. However, the upper echelons of the union seem disconnected.

[Sean06]

It's pertinent to consider that the previous pay agreement was agreed at the end of the industrial action. This was 10% from 2022 - 2024 and accepted in July 2023. The CWU has ultimately sat on pay conditions since then. I appreciate that 2025 pay conditions were never going to be discussed in 2023, but to be completely devoid of any communication regarding this matter up until now is fairly appalling.

This isn't criticism of the CWU as a whole. I'm aware local reps do strive to support their colleagues. However, the upper echelons of the union seem disconnected.

Any agreement on pay or otherwise will not be completed until takeover is completed .

[*horcrux*]

What if the takeover doesn't complete?
What happens if he doesn't get at least 75% of the shares?

[Martin Walsh]

There is always that risk but all those who have tracked the hedge funds and the market would suggest they will by the 30th April have got over the 75% threshold and at that point they can start the process of delisting Royal Mail which can take up to five weeks before they are then officially the owners.

[TopperGas]

There is always that risk but all those who have tracked the hedge funds and the market would suggest they will by the 30th April have got over the 75% threshold and at that point they can start the process of delisting Royal Mail which can take up to five weeks before they are then officially the owners.

So when are you sitting down with the RM representatives to discuss the pay rise etc in the next week or so, or sometime after the 30th April?

[world class male]

They have always started pay deals way too late, they should be concluded and agreed to the start of the year,
as rick71 stated earlier they've had nothing to do for around 2 years after agreeing to the massive 2% for 24/25 very early,
They should have already been negotiating 25/26 with the current board before the takeover became official to start last week
Then after months of talks we'll get offered another poor deal back dated and once again the lump sum will turn heads

[Londonsburning]

They have always started pay deals way too late, they should be concluded and agreed to the start of the year,
as rick71 stated earlier they've had nothing to do for around 2 years after agreeing to the massive 2% for 24/25 very early,
They should have already been negotiating 25/26 with the current board before the takeover became official to start last week
Then after months of talks we'll get offered another poor deal back dated and once again the lump sum will turn heads

A tale as old as RM privatisation.

[TopperGas]

They have always started pay deals way too late, they should be concluded and agreed to the start of the year,
as rick71 stated earlier they've had nothing to do for around 2 years after agreeing to the massive 2% for 24/25 very early,
They should have already been negotiating 25/26 with the current board before the takeover became official to start last week
Then after months of talks we'll get offered another poor deal back dated and once again the lump sum will turn heads

Why would the present board agree a deal which the new owners will have to finance?

I've no idea what this really means but you do wonder if the offer is going to be accepted if Morgan Stanley are still buying up shares:

https://www.tipranks.com/news/company-a ... m=referral

[Jefferson Starfish]

They have always started pay deals way too late, they should be concluded and agreed to the start of the year,
as rick71 stated earlier they've had nothing to do for around 2 years after agreeing to the massive 2% for 24/25 very early,
They should have already been negotiating 25/26 with the current board before the takeover became official to start last week
Then after months of talks we'll get offered another poor deal back dated and once again the lump sum will turn heads

Why would the present board agree a deal which the new owners will have to finance?

I've no idea what this really means but you do wonder if the offer is going to be accepted if Morgan Stanley are still buying up shares:

https://www.tipranks.com/news/company-a ... m=referral

That story is dated 3 months ago.

[TopperGas]

They have always started pay deals way too late, they should be concluded and agreed to the start of the year,
as rick71 stated earlier they've had nothing to do for around 2 years after agreeing to the massive 2% for 24/25 very early,
They should have already been negotiating 25/26 with the current board before the takeover became official to start last week
Then after months of talks we'll get offered another poor deal back dated and once again the lump sum will turn heads

Why would the present board agree a deal which the new owners will have to finance?

I've no idea what this really means but you do wonder if the offer is going to be accepted if Morgan Stanley are still buying up shares:

https://www.tipranks.com/news/company-a ... m=referral

That story is dated 3 months ago.

April 2025 is this month?

"International Distribution Services PLC, a UK-based company, has announced a change in its major holdings. Morgan Stanley, a US-based financial services firm, has increased its voting rights in the company to 7.911140% as of April 4, 2025, up from a previous position of 7.021630%. This acquisition of voting rights by Morgan Stanley could potentially influence the strategic decisions of International Distribution Services PLC, impacting its operations and market positioning"