Axis-shield Share Discussion Threads

[tabber] 25/8/2011 16:35

Good to know people can withdraw their acceptance, didnt realise that. I'm sure some will. Owning a load of private shares doesnt sound like a picnic, so I hope i'm correct in saying there are enough directors and investment houses that are rejecting the offer already to scupper the bid. (Think they need 90% to delist ASD, and send it private)

I havent held these shares for nearly 10 years to give up now!!

[jpjp100] 25/8/2011 12:44

and, in today's other news, First Eagle has another nibble.

nice rejection recommendation letter - I agree with it

[hotfinance14] 25/8/2011 11:08

Edgar...what do you think is a fair value ?

I would say a minimum of £7.50.

[edgar222] 25/8/2011 10:25

surely 560p is also an undervaluation given the placements and sales of Afinion alone ?

[hotfinance14] 25/8/2011 08:45

Brokers Collin Stewart believe a fair value for ASD is 560p. Will we receive another bid ?

[hotfinance14] 25/8/2011 08:30

I also reject the offer.

[croasdalelfc] 25/8/2011 07:10

OK...I reject the offer :-)

[dlem] 24/8/2011 12:25

Corporate Factsheet August 2011

[croasdalelfc] 24/8/2011 12:14

Increase the offer to £10 and I might take it.

[jpjp100] 24/8/2011 11:00

Interims generally positive, need to keep that momentum going - I am sure they can.

Pretty derisory view on the Alere offer in the interims - the right position to take imo

"OFFER BY ALERE

Axis-Shield shareholders will be aware that Alere AS Holdings Limited on 5 August 2011 made a cash offer (the "Offer") for the entire issued and to be issued ordinary share capital of Axis-Shield at 460 pence per share to Axis-Shield shareholders. As indicated in the announcement on 11 August 2011, the Board will write to Axis-Shield shareholders to set out its position in further detail no later than Thursday 25 August 2011. The Board, after consultation together with its financial and legal advisers, continues to believe that the Offer fundamentally undervalues the Company and its future prospects."

So, further details of the defence later today or tomorrow. Could make interesting reading.

First Eagle is certainly keen on this one. The amounts they are adding on a daily basis are varied and generally quite small - I wonder if that's due to a shortage of available CFDs or First Eagle choosing to deal so small?

[slaterlpj] 24/8/2011 08:53

First eagle increased long positions --- again.

[hotfinance14] 24/8/2011 08:31

Superb interim results with revenue and EBITA increasing significantly.

[hotfinance14] 22/8/2011 13:08

Interims are reported on Wednnesday. ASD must be confident they are impressive results.

[jpjp100] 22/8/2011 11:51

That First Eagle is expecting a higher bid - either from Alere, or somewhere else.

They might be wrong of course and lose a shedload of poke

But they might be right

[hotfinance14] 22/8/2011 10:45

Wgats your take on that JPJP ?

[jpjp100] 22/8/2011 10:16

lo and behold, First Eagle adds some more to its long CFD holding, this time at 4.8053

[scobiebreasley] 21/8/2011 16:31

Shareholder group thwarts Alere's bid for Axis-Shield


Published Date: 21 August 2011
By Peter Ranscombe

A GROUP of shareholders big enough to thwart Alere's takeover of Dundee-based Axis-Shield has already rejected the US life sciences giant's £230 million bid, Scotland on Sunday has learned.
Between them, insurance giant Aviva, Edinburgh-based investment manager Artemis and Axis-Shield's own directors own more than 10 per cent of the company's stock.

New York-listed Alere had set itself the target of winning 90 per cent of shareholder approval, meaning in effect that its 460p-a-share cash bid is dead in the water at its current price, unless one of the investors was to change its mind.

Ahead of Wednesday's interim results from the Scottish medical testing kit maker, Sebastien Jantet - an analyst at Investec Securities - has suggested that a price of up to 570p a share would be closer to fair value, slapping a price tag of about £285m on the firm.

Jantet added: "Whilst Alere now owns around 9 per cent of Axis, the deal is far from done. From a tactical perspective, persuading Alere to pay up will either require another bidder to emerge or shareholders to dig in their heels."

Mark Niznik, a fund manager at Artemis, added that a rival bidder could still emerge, highlighting Abbott, Roche and Siemens as possible buyers.

Axis-Shield, which was created in 1999 through the merger of Dundee-based Shield Diagnostics and Norway's Axis Group, has until Thursday to publish its defence against Alere's formal takeover bid, which was made earlier this month following an informal approach in June.

Alere said its bid offered shareholders certainty on their return, but Axis-Shield's board argued that the offer "fundamentally undervalues" the company.

Interim sales at Axis-Shield are expected to have risen by 10 per cent to about £56m.

[hotfinance14] 20/8/2011 17:53

Yes...which is early next week.

[edgar3] 20/8/2011 16:52

Aren't we all now waiting for the management statement?

[slaterlpj] 20/8/2011 07:12

So what's the max? 550? At 480 now only 70p diference.

It's worth looking at your holding to see how much you are risking vs the extra you stand to make by hanging on for another bid by Alere.

I'm finding harder to stay put with my remaining stock now.

Same old story isn't it? I'm way ahead, but I'm greedy for more with no extra effort on my pary. lol.

Seriously though, if there is another rout in the markets in general on Monday, and this holds up as is expected due to the bid, -- and maybe even increases as speculation ramps up -----, then I think it's dump ASD time and look for bargains else where.

If the bid holds up and goes to 550, you haven't missed that much depending on your holding level.

If the bid fails the share price will drop back, and then it will be a golden opportunity to buy a lot more, just like Alere will, as Trantante says, at a way cheaper price. Then await the next push up in the share price either by another bid, or by the genrally improving fortunes of ASD anyway.

[jpjp100] 19/8/2011 14:03

first eagle reporting another addition of CFD long this morning @ 4.7552, now having 2.12%

[tratante] 19/8/2011 13:18

The bid has certainly kept the price pinned up while chaos reigns elsewhere, but if the bid fails and Alere don't immediately announce a new offer I worry the price won't hold with the current state of the market. It's in Alere's interests not to come back immediately. If the price drops they can hoover up some more stock on the cheap and reduce the final cost of buying ASD.

[slaterlpj] 19/8/2011 08:03

Better hope First Eagle aren't headed by the famous Eddie. lol.

First eagle seem to be keen on this sort of thing with pharmas.

They did the same with PROSTRAKAN (PSK), but from what I can see, their last position resulted in a small loss.

I think PSK went out for 130 to a Japanese company, and F Eagle were long for 132ish.

[jpjp100] 18/8/2011 14:57

first eagle keeps having a nibble - a few more long CFDs announced this morning @ 4.7571 to go with the few in yesterday's announcement

[tratante] 17/8/2011 17:40

These staying well above the bid price. Those buying must be confident of the bid failing and Alere coming back with a higher price, or another buyer emerging.

Recall similar views expressed about previous takeovers only to see the instis demonstrate the short-termism for which they are famous and sell for a knock down price.

Not too long before we find out!