Alliance & Leicester Share Discussion Threads

[2gemini] 16/7/2008 17:18

Looking at disclosures and trades there appears to be ongoing shorting. By the way, think it's pretty poor that the AL website has nothing at all on it about the takeover! Nice to see they're keeping us private shareholders informed-not!

[tricky1992000] 16/7/2008 14:38

it won't be 3 pounds,

it's 3 shares for one

and santander's share price is gonna collapse.

more like 2 pounds

[jennyj] 16/7/2008 14:34

How was A+L stock manipulated to 1/3rd its current value.



Put in your FOI requests NOW, lets start the class action.

Manipulation - Fake value - Sale at bad deal

Directors must have been in on it £12 - refuse

£3 - Accept ?

Doesnt ADD up, mass fraud!

[tricky1992000] 16/7/2008 14:21

loganair

this is the worry



Manuel Romera, director of Madrid's Instituto de la Empresa, said: "I can see a mortgage crisis building. We have a serious property bubble in this country and everyone is in denial; it's worse than the US."

The country is over-housed, households are over-indebted and the construction industry continues to churn out homes. Taylor Woodrow Espana took out ads in some British newspapers this week advertising Spanish properties at substantial discounts.

On top of that, households now have some of the highest debt levels in the eurozone, much of which is based on variable lending rates leaving consumers open to sudden increases in borrowing costs.

The worry is that should the suspected property bubble burst, and some analysts estimate that house prices are overvalued by 30%, then other industries such as banking and retail would also suffer.

Bernard Connolly, global strategist for Banque AIG in London and former head of economic research for the European Commission in Brussels, warned: "Spain is going to face the very direst of economic circumstances: a cycle of recession, deflation and widespread private sector default - a depression in fact."

[loganair] 16/7/2008 14:16

Down at the moment.

[tricky1992000] 16/7/2008 14:11

loganair, look at the trend on the santander share price. (bnc)

[loganair] 16/7/2008 14:08

The offer in now currently worth £2.83 + 18p Dividend = £3.01

[kumala] 16/7/2008 10:28

thanks loganair: will probably sell out before the final date i think.
K

[loganair] 16/7/2008 10:08

KUMALA - Yes. However you will be able to sell your Santander shares.

[kumala] 16/7/2008 09:53

so does this mean mean we are unlikely to see the share price any higher than this and if we want cash for our shares we need to sell them into the market, otherwise we will end up with Sant, shares instead.............
K

[zipper] 16/7/2008 07:45

"Bradford & Bingley fell 4¼ to 48¾p as analysts dismissed the suggestion that it could be taken over at a large premium to the current price. "A&L is a unique case - a small bank with a relatively small balance sheet and a good quality loan portfolio," said Jonathan Pierce, an analyst at Credit Suisse. "In contrast to A&L, we think any bid for B&B would likely be at the encouragement of the regulator with an offer price much closer to, if not below, the current share price." A&L eased 10½ to 324½p as Goldman Sachs, Credit Suisse and Dresdner Kleinwort all argued that a counter-bid was unlikely."

[indieman] 15/7/2008 22:39

Santander stock is worthless, eh? Actually, it's the second biggest banking group in Europe.

Some thoughts-

The share price could have risen beyond the offer price because of pressure of buying from those wanting to liquidate short positions.

A&L wouldn't have accepted the offer if they seriously believed, along with the FSA, that a better, acceptable bid would be forthcoming. That implies the directors believe that the banks assets could not reasonably be sold for significantly more. Much of this is due to the risk of future impairment of assets.

The shares are only worth what someone else is prepared to pay for them. Saying that they're worth more than the offer price is an opinion, a statement of faith, a mantra, rather than anything a reasonable person would describe as a fact.

[whitestone] 15/7/2008 16:04

Looking through the UKREG news it would seem two of the major shorters of A&L were the Yank investment banks of Merrill Lynch and suprise, suprise, Morgan Stanley......

[malcolme2] 15/7/2008 13:36

I agree logan.

[loganair] 15/7/2008 13:33

malcolme2 - I don't think A&L had much choice but to accept the Santander offer.

[jennyj] 15/7/2008 13:26

Israel are going to nuke the UK

Its not the truth, there is no evidence, BUT its SCIENTIFIC FACT!

[bobbyg2] 15/7/2008 13:02

Shorting oil!?!

very very brave jennyj - you only need Israel to drop one bomb on one iranian research facility and youre gonna be one poor bunny.

[loganair] 15/7/2008 12:51

peak - Santander have already said that A&L will be rolled up into Abbey, and will be BNC shares that will be given.