Alfred Mcalpine Share Discussion Threads

[mikey34] 16/10/2007 19:27

I dont think Carillion have much chance at all at 570.

[upside potential] 16/10/2007 16:18

cash and stock offer not pure cash at 570

[bonzophil] 16/10/2007 16:14

I'm a bit surprised that the share price is still 30p below that offered by CLLN

[shammytime] 16/10/2007 13:29

thanks mikey

[mikey34] 16/10/2007 13:27

Shammytime, VC=Venture capitalists.

[miamisteve] 16/10/2007 13:26

Carillion - Still absorbing last takeover hence high proportion if equity. Were probably thinking they could fund the cash element by the sale of slate and mcalpines pfi portfolio. Too little cash on the table for this to work.

[shammytime] 16/10/2007 13:22

who is vc?

[ed 123] 16/10/2007 13:22

Agree, Wapper. :-)

gbb483, looking at it but not confident I can call the bottom. Also, CLLN could get into a bid contest and win. :-(

FWIW, my guess is that someone else will get MCA. CLLN are still benefiting from their buy of Mowlem. MCA's slate problem was unearthed too early for CLLN.

[wapper] 16/10/2007 13:12

This would have filled the gap to £5.50 anyway. Sum of parts worth way over £6.00. I will sit this one out & wait for counter bid too. Break-up bid from VC most likely IMO.

[ed 123] 16/10/2007 12:59

Good to see the announcement. At least it's out in the open now, but the price is not sufficient, imho. Having said that, CLLN's share price has been knocked, possibly the market thinks it will bid higher and eventually too high. CLLN's share price matters to the success of this proposal since it is to be largely paper.

My guess is that other parties will now contact MCA.

Happy to hold, expecting a higher bid.

[gbb483] 16/10/2007 12:56

Carillion have taken a bit of a dive on the news - might be worth a short term punt until they get outbid.

[miamisteve] 16/10/2007 12:44

I think the price is a little opportunist. Should get to those levels with the disposal of slate and pfi.

600p and the company would have to start listening.

In the end it is down to the major shareholders. They had the power to press for a company brek up and would therefore have the power to say take the offer.

[wapper] 16/10/2007 12:36

Counterbid could come from VC boys soon IMO.

[gbb483] 16/10/2007 12:23

How about :

The Board confirms that on 13 August 2007, Alfred McAlpine received an approach
from Carillion plc ('Carillion') at an indication of 560 pence per ordinary
share, comprising 25 per cent. in cash and the balance in Carillion ordinary
shares. The Board of Alfred McAlpine believed that this materially undervalued
the Company and therefore did not progress discussions with Carillion.

[ed 123] 16/10/2007 11:06

Sale of the Slate Division is said to be close. That sale is the key, imho. Once slate has gone, the remaining three parts could easily find buyers, either as a whole or as separate divisions. Management only want to sell the PFI part but the other two will definitely be of interest, imho.

SP down a little this morning - awaiting news after a good recent run.

[2shemshersingh] 16/10/2007 08:27

the charts looks good and indicate the stock may break 550p mark, there seems to be an accumulation with very few sellers and more buyers at these levels. I think the market is pricing in the accounting problems being resolved with loss markdowns as final writeoff. This means the stock then could trade close to February level.

[ed 123] 15/10/2007 23:26

Agree, hefty volume and share price up whilst main market down. Closed at 530-ish and bid is said to be 575p - not much premium to come. Is someone accumulating stock ahead of an announcement? I'm not for selling at this level; 600p might see me amenable.

[2shemshersingh] 15/10/2007 18:19

stange after hour trades that went on, looks like some major chunky trades and the stock closed up whilst the market fell. Maybe there is something more in these rumours.

[strangled69] 13/10/2007 15:41

Nice one BB

[baghdad bomber] 13/10/2007 15:19

Indie today says the same...

[ed 123] 10/10/2007 11:23

FT reports a rumour of CLLN working on a 575p break up bid for MCA.

[sportbilly1976] 10/10/2007 08:46

well thats a good start....

[ed 123] 09/10/2007 17:23

Strong rise on healthy volume. Tomorrow should be good. :-)

Long term holders have had some difficult times since the housebuilding sell-off. They deserve something to put a smile back on their faces. The announcement concerning the new management structure may be overtaken by events. We'll see.