We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Customisable watchlists with full streaming quotes from leading exchanges, such as LSE, NASDAQ, NYSE, AMEX, Bovespa, BIT and more.
| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Axis-Shield | ASD | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 469.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 469.00 |
| Top Posts |
|---|
Posted at 21/10/2011 08:47 by troutisout Alere have extended purely because they haven't got enough acceptances to delist, they have control of the Company, by virtue of the 20.5% acceptances, but that in itself is not enough for them to take it over. The RNS clearly gives investors clear guidance and it would seem holding onto your shares is not a dangerous ploy, if they get to 75% there will still be ample time to accept or sell your holding. The one thing that spikes the guns of any potential bidder is the 29.9% Alere holding, this would render any bidder hamstrung when it came to any special resolution votes or if it wanted to delist the Company. Trout. |
Posted at 20/10/2011 23:07 by slaterlpj You should only ever trade any share for a profit. The only person who cares about your wealth is you.The board of any company you invest in don't care tuppence if you do well or otherwise. They don't care about large investors particularly, but they have to fear them. Small investors they can ignore and treat with contempt, just as they have in this case. I wouldn't be surprised, -- but won't be holding to find out, -- if on Monday after the deadline passes, some other devious twist emerges, and another offer pops up, supported of course by the ASD board. We'll see. Yup, we are all better off out of ASD. Good riddance. |
Posted at 07/10/2011 19:28 by croasdalelfc not much the directors could have done once the large investors sold up...30% had already gone and others were willing to do so.The mistake if any was not finding another suitor at a higher price |
Posted at 07/10/2011 13:09 by slaterlpj To Axis shield, Subject: Please pass to investor relations. --- Share price sell out. Dear Axis Shield, In light of your recent public announcements, -- first stating how much you believed Alere to be undervaluing ASD at 460p (repeated), -- and then your subsequent capitulation to accept a mere 10p increase to an offer of 470p; -- Don't you consider it appropriate to make a general apology to ASD shareholders for misleading them? Had you not been so publicly adamant in stating that you were not going to accept 460p, or any amount that undervalued ASD, then many shareholders would have taken the opportunity to sell at levels exceeding 470p, and probably close to 500p. Yours faithfully slaterlpj. Shareholder. If I get a reply, I'll let you know. :) |
Posted at 01/10/2011 12:07 by scobiebreasley Suitor Alere tightens grip on Axis-Shield, taking 30% stakePublished Date: 01 October 2011 By PETER RANSCOMBE AMERICAN life sciences giant Alere appeared to gain the upper hand yesterday in its takeover battle for Dundee-based medical testing kit maker Axis-Shield after tripling its stake in the company to 30 per cent. In a flurry of stock market announcements, the Massachusetts- based firm revealed it had increased its holding from 11 per cent to 22 per cent before the total rose again to 29.9 per cent. Axis-Shield hit back, revealing it had been in lengthy talks with a "third-party" that had been interested in mounting a counter- bid to Alere's hostile 460p-a-share offer, which valued the firm at £230 million. The Scottish company said the potential competing offer "could have delivered significantly higher value" for investors. But the third party had been unable to assemble a formal offer before yesterday's deadline - Day 50 in the takeover tussle - by which rival suitors must put their bids on the table under new Takeover Panel rules introduced last month. Instead, Axis-Shield said the potential suitor - whose name it refused to release - had "reserved its rights" to make an offer if Alere's bid fails or is withdrawn. Ian Gilham, Axis-Shield's chief executive, told The Scotsman: "It's obviously disappointing to see some of the big shareholders selling some of their shares but I would highlight that it's only part of their stakes - I think there's some hedging of bets going on there. "Our recommendation remains that 460p doesn't offer good value to shareholders. Alere is making a highly opportunistic offer in order to try and acquire Axis-Shield on the cheap." Shareholders in Axis-Shield have until 10 October to decide whether they will sell their stakes to Alere. The stock closed up 1.6 per cent or 7.13p last night at 455.5p, having hit 470p earlier in the session. Michael King, an analyst at Nomura, said it now looked more likely Alere would reach its target of buying 50 per cent of Axis-Shield's shares, but that it was not yet "game over". He added: "There are still ten days to go so there's still plenty of time. It all now depends on what other big shareholders will do, so hopefully things will become clearer next week." Numis analyst Charles Weston, another long-term Axis-Shield watcher, agreed Alere now had the upper hand. He said: "It's a shame the third party and Axis-Shield didn't make the potential approach public sooner by a day or two. The longer-term shareholders may have made a different choice about selling if they'd known about the third party." Much of Alere's stake-building took place during Thursday's trading, before yesterday's statement from Axis-Shield revealing news of the third party's interest. Mark Niznik, a fund manager at Edinburgh-based Artemis and a supporter of Axis-Shield's board's stance over Alere's offer price, said: "I still think Alere is getting Axis-Shield on the cheap. I wanted to hold out for a higher price but it looks like other investors got nervous with the turmoil in the stock market." Legal & General, Axis-Shield's second-biggest investor after Alere, sold 158,100 shares at the offer price, taking its holding down to 4.5 million shares or 9.1 per cent of the firm, while Royal London parted with 382,250 shares at the same price, leaving it with 320,357. Some institutions sold their entire holdings, with Canada Life parting with 600,000 shares and Variopartners dumping a million shares. So-called "arbitrage" funds - which take advantage of price differences in markets in order to make money - unwound long positions on their contracts-for-differ |
Posted at 26/9/2011 17:04 by scobiebreasley MMs trying to frighten investors at the end of the day, I think. Still think that a deal over 460p will be done (ever the optimist!) |
Posted at 25/9/2011 08:37 by soulman I agree that if the bid is unsuccessful then the share price must surely drop - by how much is the question/worry? I was tempted on Friday to sell half my holding because of this concern. However I didn't because I can't help feeling that Alere are trying to get ASD on the cheap (who can blame them)by using the current general market weakness to make their offer look generous and to make investors nervous. Also having held ASD shares for some considerable time I don't want to sell now and then see the share price much higher in a few years time. I know ASD have promised much over the years and the share price has often got ahead of itself but the financial numbers keep getting better and I have a feeling in my bones that during the next few years one's patience could finally be rewarded. |
Posted at 14/8/2011 11:45 by scobiebreasley Axis-Shield investors split over Alere bidPublished Date: 14 August 2011 By Peter Ranscombe SHAREHOLDER uncertainty is giving the board of medical testing kit company Axis-Shield confidence that it can fend off an unwanted bid from a US predator. Alere, a New York-listed life sciences company, last week issued its offer to stakeholders at 460p a share, valuing the Dundee company at about £230 million. Axis-Shield's management now has until 24 August to publish its defence document having rejected the US group's bid, saying it "fundamentally undervalued" the business and its prospects. Chairman John Brown last week gave investors a taste of what will be contained within that formal defence, confirming that the firm is on course to launch its key lipids test before the end of the year. Lipids - which are measured as an indication of heart and lung diseases - could be a key sector for the Scottish firm, with the market forecast to be worth $500m (£310m) by 2013, more than the red blood cell test sector in which Axis-Shield operates. Key to the company's defence will be its Afinion machine - which can run several tests on a single sample - and which will run the forthcoming lipids test. Introducing the new test will put Axis-Shield head-to-head with current market leaders Alere and Abaxis. Chris Glasper, an analyst at Brewin Dolphin, said: "We continue to believe the approach is opportunistic and is driven by Alere's concern over the competitive threat posed by Afinion to its Cholestech franchise in the US coupled with a dire trading performance from its health management division. "The strategic value of Afinion in particular is what is at stake here. We continue to believe the true take out value of Axis-Shield should be above 550p." Such an offer would value the firm - created in 1999 through the merger of Dundee-based Shield Diagnostics and Norway's Axis Group - at about £275m. Brown has admitted that there may be a level at which a bid would be "sufficiently interesting to permit someone to indulge in discussions with us but we don't feel it's there at the moment". He refused to be drawn at what size of bid would hit the mark. Shares in Axis-Shield closed up 11p on Friday at 478p, valuing the company at £239m, indicating that a higher offer may be possible. The stock has been a rare riser in a sea of red over the past fortnight amid the market turbulence. Axis-Shield's share price jumped nearly 50 per cent to hit a ten-year high of 500p on 6 July, the day Alere made its informal approach public. The US firm spoke to Axis-Shield's board in June but was rebuffed and so turned its bid hostile on 5 August. Alere - formerly known as Inverness Medical - said its bid offered investors certainty in volatile markets. But Sebastien Jantet, an analyst at Investec Securities, said: "We continue to view Alere's approach as having a sound strategic footing, but it looks to us like Alere is trying to take advantage of the current market turbulence to get Axis on the cheap. "We await with interest Axis' detailed response to the offer and remain of the view that Alere will need to up its offer to secure Axis. We are also of the view that now that Alere has upped the ante, other players may also emerge." |
Posted at 07/7/2011 08:44 by hotfinance14 The Herald :£230m takeover approach for Axis rejected City predicts future bid from US rival Alere after rebuff mark smith deputy business editor Share 7 Jul 2011 INVESTORS yesterday pumped around £82.5 million into the stock market worth of Axis-Shield after the Scottish-Norwegian medical diagnostics company rebuffed a takeover offer from US rival Alere but the City's expectation is that it will be back shortly with a higher bid. Shares in Axis-Shield, which has dual headquarters in Dundee and Oslo, yesterday rocketed 49.25%, or 165p, to 500p on news of the rejected £230m cash takeover approach. Alere, which has made around 60 acquisitions over the past seven years and is a giant by comparison, made its indicative offer described by Axis-Shield as "unsolicited and highly preliminary" on June 7. Nonetheless, Axis-Shield said in a statement yesterday that its board had unanimously rejected the proposal because it "fundamentally undervalued the company and its future prospects". One insider close to Alere, a diagnostics and health management company based in Massachusetts, said the indicative offer, which represents a 37% premium to Axis-Shield's share close yesterday, had been intended to bring the matter to the attention of shareholders and to trigger talks between the two companies. "Alere is keen to work towards a recommended takeover offer for Axis-Shield and would welcome the opportunity to discuss a possible transaction with Axis-Shield in a constructive manner," the US company said in a statement. The insider added: "They are clearly attracted by Axis-Shield's business and the 37% premium on Wednesday's closing share price and 44 times the company's price/earnings ratio is a handsome price not withstanding that it's all in cash. "The outright rejection by the Axis-Shield board has disappointed them, particularly given that it was an indicative offer, which they thought would be a basis for discussion. "They are now considering their options, but this is not a do or die deal for Alere. This is a company with a $32 billion market cap and more than 11,000 employees in 25 countries." Alere already has a number of operations in the UK, including a research and development centre in Stirling that employs around 60 people. Axis-Shield specialises in its fast-growing point-of-care diagnostic NycoCard and Afinion tests for conditions including diabetes, rheumatoid arthritis and vitamin deficiency. Its Afinion HbA1c kit, for example, helps to monitor the crucial long-term control of blood glucose levels in diabetes patients and takes roughly half the time of rival tests although in most cases blood samples are sent to laboratories and weeks can pass before the results are returned to the patient. Axis Shield's HbA1c test takes approximately three minutes. Earlier this week, the company, which is led by chief executive Ian Gilham, said revenue in the first six months of 2011 grew by about 10%, driven by its point-of-care division which supplies tests for its installed base of about 10,000 Afinion machines in doctors' surgeries. The company, which was created through the merger of Shield Diagnostics and Norwegian competitor Axis in 1999, has also developed a lipid panel test, due to launch in Europe later this year, to measure cholesterol levels as an indicator of cardiovascular disease. Its Dundee-based lab business employs around 120 staff, out of some 550 globally. Meanwhile, a number of analysts regarded the offer by Alere as a shot across the bows, and perhaps just the beginning of the bidding process. Aanalyst Sebastien Jantet at Investec said Alere was a credible bidder, but he agreed with the Axis-Shield board that the offer undervalued the company, and the prospects for its lipid tests in particular. "We would urge investors to hold on and believe we may well see another bidder emerge," he said. "With Alere putting Axis into play, other bidders may well emerge, including possibly Siemens, whose DCA platform also competes with Axis, and Abaxis, which has a lipids offering." He also said a return approach by Alere would need to be at least 530p, and an offer above 600p was possible. Aviva Investors, which holds nearly 4% of Axis-Shield's shares, backed the board in rejecting Alere's indicative offer. In 2010, Axis-Shield made £7.5m pre-tax profit on revenue of £102m. |
Posted at 06/7/2011 16:59 by zho Diagnostics group Axis-Shield has jumped nearly 50% after it rejected a £230m bid from US rival Alere, opening up the prospect of an auction for the company.The US group has offered 460p a share in cash and said it hoped it could work to a recommended deal. But Axis - created in 1999 through the merger of Shield Diagnostics and Norway's Axis - said the offer undervalued the company and its future prospects. Axis shares jumped 164p to 499p as investors bet on a higher offer or rival bidder. Analyst Sebastien Jantet at Investec said: Today's announcement from Alere effectively puts Axis in play and, whilst a 460p approach may look attractive given the current price and Axis' track record, we think it undervalues the company. We would urge investors to hold on and believe we may well see another bidder emerge. We up our price target to 530p, being our previous 410p target plus a 30% premium for control, and remain buyers. He suggested Siemens, Abaxis, and possibly Danaher as potential rival bidders. |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Hot Features
Premium
