Alfred Mcalpine Share Discussion Threads

[miamisteve] 10/12/2007 07:46

The deal seems fair. i'd expect the carrilion shares to move back up to 390p in the near term to give 585p equivalent.

2 observations

1) No other expressions of interest in the company

2) The slate sale may have been cancelled and remain part of the enlarged group.

[shammytime] 06/12/2007 11:53

Due dilgence for the MCA takeover is taking my place on 14th December!

[ed 123] 04/12/2007 22:33

From the FT site.

"Alfred McAlpine shed 8.5 per cent to 475p after late rumours that Carillion, off 2 per cent to 361¾p, was to drop its interest in buying the construction group. But market professionals reckoned the fall in McAlpine's share price had more to do with a fat-fingered trade.

That said, traders believe Carillion may seek to amend the terms of its proposed 585p offer, given share price weakness."

[shawzie] 04/12/2007 22:00

Thought I heard the deathwatch beetle sound, I wonder what CLLN has found.

[mikey34] 04/12/2007 19:17

Bonzophil,

I`m perplexed on this.The sudden fall in the late afternoon is hard to fathom.Deutshebank have just increased their holding.....yet the fall today would suggest the CLLN DEAL might be off.I think the risks from here favour the upside.

[bonzophil] 04/12/2007 17:04

455 - 500p spread at the end of the day with the last trade a buy at 511p. An unususl days trading. Any ideas?

[mikey34] 30/11/2007 14:07

More strength here today.If the board uses AGM next week to say deal still proressing ok then there`s obviously more upside.Nobody on either side has actually said anything different yet.

[mikey34] 28/11/2007 13:40

Some sort of sanity seems to be starting to be restored.As said previously, unless the deal is off there`s a lot to go for.

[miamisteve] 23/11/2007 11:14

Mikey34 - Agreed. Carrillion have until the middle of December to formalise their offer. Before then we should also have concluded the sale of the slate division, which irrespective of Carrillion would put this back to 500p.

[mikey34] 23/11/2007 09:37

GBB483,

It is now priced well below where it was BEFORE the bidding started.Therefore the mkt is effectively saying no bid and then some!

I think this now undervalues this by a lot. Buying now puts the bid premium in for free.

[gbb483] 22/11/2007 17:58

The relative prices have gone opposite ways today, is it off?

[ed 123] 22/11/2007 12:59

Agree. Announcement soon?

[miamisteve] 22/11/2007 12:45

CLLN moving in the opposite direction. I'm pretty sure the bid is off now due to market weakness.

[ed 123] 19/11/2007 21:55

MCA's shareprice is now (un?)comfortably below its level when the proposed bid was first announced. Imho, CLLN cannot now bid at the proposed terms.

This is an interesting situation but only perversely enjoyable. Two years from now I should be able to look back here with some detachment.

The stock market giveth and the stock market taketh away.

[shawzie] 19/11/2007 14:56

Carillion is classified as construction and McAlpine as business services,
perhaps that is why Carillion share price has fallen more than McAlpine - not ignoring any takeover premium, although I would be very surprised if Carillion proceeded
a takeover at 585p. The NAV of Carillion is negative once intangibles are stripped out.

[gbb483] 19/11/2007 11:52

So which is dragging which down ??

[mikey34] 15/11/2007 20:58

Ed,

BBY coming in.What agood idea....would be nice.

[ed 123] 15/11/2007 16:15

Not a good day. Any chance of BBY coming along with a cash bid for MCA? It would help the shareprices of both MCA and CLLN.

(bottom lip quivering)

[ed 123] 15/11/2007 12:28

miamisteve, I hope they can work CLLN back to 400p but too many sellers are coming out above 380p. BBY's statement was encouraging. If CLLN can put out a similar one they could get their 400p.

Failing that, I wonder if the two Boards might revise the 585p downwards 'in view of market conditions'? CLLN's shareprice is still too weak, imho.

[dassera] 13/11/2007 19:18

Like Taylor Woodrow - George Wimpey

Ouch

[shawzie] 13/11/2007 16:42

I would like to see Carillion walk away from this deal - 585p surely overvalues
McAlpine and the fact that the McAlpine share price hovers around 10% below the
offer price seems indicative that the market thinks that also.
McAlpine should perform better, split into the two companies as proposed by the Board - ALTHOUGH TOTAL SHARE PRICE FOR THE TWO COMPANIES COULD FALL IN THE SHORT TERM.

[miamisteve] 13/11/2007 11:37

Ed - i've seen it before. This is a friendly merger and if carillion proceed, bth parties will wait for their sp's to recover. I think 400p is the price that they will be happy with.

I'm also quite sure that rather than unearthing any skeletons they will find MCA with better growth prospects than expected aside from the synergies.

[ed 123] 12/11/2007 11:46

CLLN 367p :-(

Sadly, I can't see CLLN bidding at 585p value unless they can get their own shareprice up to, say, 400p.

Credit market, US slowdown, etc. are weighing on the broad market.

[ed 123] 09/11/2007 16:18

CLLN 372p :-(

[ed 123] 08/11/2007 11:16

Someone has been working their magic on CLLN after its low start this morning. MCA needed that.