Abbey Nat. Share Discussion Threads

[dm1] 30/7/2004 07:41

Take a look re Citigroup:

[bigface] 29/7/2004 19:08

CITIBANK WILL, I THINK, BID SOON ENOUGH. WHY? BECAUSE ABBEY IS WORTH MORE TO CITIBANK THAN ANYONE ELSE. CITIBANK NEED A FOOTHOLD IN A UK FINANCIAL SERVICES OPERATION - ABBEY WAS UNWITTINGLY TAILORING IT FOR THEM!! WAIT AND SEE.

[mclellan] 29/7/2004 16:24

Be nice if a counter-bid was announced tomorrow, then THAT one could dominate the week-end papers.

[dm1] 29/7/2004 15:57

Definitely speculation, have you noticed how most days just before the end of trading the shareprice climbs up? Likely big boys buying in, incase bid news overnight or first thing in the morning. DM1

[bigface] 29/7/2004 11:21

its obvious there is going t
o be another bid

[whipround] 29/7/2004 10:52

I would have thought that BB. and AL. would love to bid for ANL. Just like house that are too expensive though, they'd have to self cert their income to borrow the money!

[impecunious] 29/7/2004 08:33

Isn't the Citgroup article a repreoduction of one in the weekend papers ? ...at least the quote from an insider is.

Aren't NAB being forced to sell underperforming existing UK assets (eg. Clydesdale Bank) assuming they can eventually find buyers?

[sandbank] 29/7/2004 07:39

Looks like there's interest coming from National Australia Bank too. We could be in for a banking take-over free for all - just when everyone had booked their hols.

[sandbank] 28/7/2004 23:06

Aha! - So Santander's bottom-fishing trawlermen are not alone! No wonder the share price moved up today. Citibank is steaming over the horizon with a counter-bid. Here - a little in advance - is tomorrow's news:-

Jul 29 2004
Alan Lodge

CITIGROUP is preparing a £8.5bn bid for Abbey National.

The bank - which has its European HQ in Canada Square - is preparing to challenge Spanish bank Banco Santander Central Hispano for the takeover of the British company.
Citigroup chairman Sandy Weill has asked his investment bankers to work on a bid for Abbey, and is keen to build a banking base in the UK.
Citigroup is believed to have looked at a bid for Lloyds TSB but was put off by the potential £25bn asking price.
A senior banker at Citigroup said: "It's much easier to justify a £10bn foray into uncharted waters to shareholders than a £25bn one."
Citigroup has kept an eye on the situation since rumours that Abbey was in talks with Santander surfaced.
Neither party was willing to comment on the talks.
However the announcement earlier this month that Abbey had capped the liabilities in its life assurance business and didn't need to inject more money into it alerted potential bidders."

Good eh?

[bigface] 28/7/2004 23:01

True - sit tight worste case scenario shares in SCH. Probable further, and sensibly priced bid IMHO. 625p minimum.

[guzzitrike] 28/7/2004 22:58

Think back to when Abbey and BOS were getting together Lloyds didn't come to the party until at least two/three weeks after the anouncement. At the mo there are lots of unhappy staff/customers/shareholders over this deal maybe A&L or Northern Rock will see this as an opertunity? Tony, Gordon and co cannot be happy seeing all this loverly tax going to Spain? - so will there be an ease up on monopolies and mergers?

[bigface] 28/7/2004 20:42

Remember the absolute certainty from the papers including teh FT, that a bid from a UK or US bank would happen NAB also has to be a possibility.

[bigface] 28/7/2004 20:41

Results tomorrow isn't it?

[dvda] 28/7/2004 20:03

The documents on the bid will not be sent to shareholders until September, so there's no immediate rush for someone else to make a counter bid. Could be another 2 or 3 weeks away (if at all).

[bigface] 28/7/2004 18:54

Bigboots is this the same source that said SCH wasn't interested a week ago - I assume they are all sods until proven otherwise.

[wtacraig3] 28/7/2004 17:22

Yup there are goings on behind the scenes reckon - or is it just wishful thinking on my part. Anyway, with obvious Abbey shareholder discontentment at the SCH bid offer I can see an alternative opportunistic bid coming in. Monday perhaps? - who knows.

[mcel101] 28/7/2004 17:07

Certainly the price is no longer tracking Santander which closed down.

[sandbank] 28/7/2004 16:44

From the look of the graph at the end of the day WTACRAIG3 could well be right!

[wtacraig3] 28/7/2004 16:29

I can't believe that other significant banking institutions will let SCH just walk off with Abbey at this price. Surely A.N.Other will take a shot at it even if they just offer 600p.

[whipround] 28/7/2004 16:29

Counter rumour launched regarding Citigroup rumour earlier

[thunders] 28/7/2004 16:10

Even though small investor are selling but price is going up that means big boys are buying. Probably they know something which ordinary folks not aware of. !!! Any view??? Bid is on the way ???

[dm1] 28/7/2004 11:28

I think he's just trying to panic small shareholders into selling lol!

[mcel101] 28/7/2004 11:24

"CITIGROUP HAS JUST CONFIRMED THAT IT IS NOT INTERESTED IN BUYING ABBEY"
Mmmm Bigfoot, someone tried the same story yesterday, but nothing came out on the wire. What is your source please?