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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Berendsen | BRSN | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 1,268.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 1,268.00 |
| Top Posts |
|---|
Posted at 08/6/2017 08:27 by grupo (ShareCast News) - Berendsen has agreed to a sweetened takeover offer from French peer Elis valuing the London-listed commercial laundry company at £2.2bn.The offer values each Berendsen share at £12.50, excluding the interim dividend and consists of around 43% in cash, with the remaining 57% being satisfied by the issuance of new Elis shares. Elis said it is intending to offer a mix and match facility to all Berendsen shareholders under which they may elect, subject to availability as a result of elections made by other Berendsen shareholders, to vary the proportions in which they receive new Elis shares and cash in respect of their holdings. The price represents a premium of around 45% to Berendsen's closing price of £8.64 on 17 May, which was the last business day before Elis made its initial proposal. Berendsen's board expects to unanimously recommend that shareholders accept the offer. The company had dismissed Elis's previous offer as opportunistic. "The board believes Elis is making an opportunistic attempt to acquire Berendsen whilst it is implementing its capital investment programme, without reflecting the value upside inherent in this strategy. The board believes this value should accrue fully to Berendsen shareholders alone," it said in a statement mid-May. |
Posted at 08/6/2017 07:01 by grupo Elis raises € 2.2bn on Berendsen, who accepts itAnthony Bondain, published on 08/06/2017 at 06h31 Elis raises € 2.2bn on Berendsen, who accepts it Photo credit © Elis (Boursier.com) - Elis's demonstration of strength has borne fruit. The British group Berendsen agreed to return to the negotiating table after the French had announced a hostile takeover bid, failing to get along with the management of his counterpart. An agreement in principle was finally signed yesterday, which defines the outlines of a project of rapprochement supported by the two directorates. Technically, the deal would take the form of a "Scheme of Arrangement" under English law, based on a Berendsen valuation of 2.2 billion pounds (about 2.5 billion euros). This corresponds to a price of £ 12.50 per share. In the hostile proposal, valuation was £ 2.05 billion, or £ 11.73 per share. The British has obtained some concessions in exchange for the support of its board of directors, in particular an increased share in cash and the possibility of receiving an interim dividend of £ 0.11, which is not included in the aforementioned price. Elis proposes the remission of £ 5.40 in cash for each Berendsen share and 0.403 new Elis shares (43% in cash and 57% in Elis shares). The overall valuation per share is calculated on the basis of the closing price of Elis of 20.17 euros on 6 June 2017 and an exchange rate of 1 pound sterling for 1.145 euro. The offer represents a premium of approximately 45% on the last price before the initial announcement of Elis and 54% on the weighted average price over three months. Elis plans to propose a "mix and match" option, which allows, subject to the availability resulting from the choices exercised by the other shareholders, to vary the proportions of new shares Elis and cash. The boards of the two companies expect to unanimously recommend the transaction once the required conditions have been met. The Canada Pension Plan Investment Board, which owns 5% of Elis' capital, has committed to subscribe to a reserved capital increase that will help the company pay the cash portion. It will cover 10.13 million new shares at 19.74 euros each, representing a product of approximately 200 million euros. The transaction must create a major European actor in hygiene and maintenance services. |
Posted at 07/6/2017 20:29 by waldron After two unsuccessful attempts at rapprochement, the industrial laundry group Elis (ELIS.FR) signed an agreement to buy its British competitor Berendsen (BRSN.LN) for about 2.2 Billion pounds sterling (2.53 billion euros).The previous offer of French, made public on 18 May and rejected by the Berendsen directors, valued the latter to the tune of 2.05 billion pounds. The Boards of Directors of Elis and Berendsen announced on Wednesday that they had reached an agreement in principle for a reconciliation that would involve the launch of a takeover bid in cash and shares. Elis plans to offer 5.40 pounds sterling in cash and 0.403 shares for each share of its competitor. The shareholders of Berndsen will also receive a dividend of 11 pence per share. Based on the closing price of Elis of € 20.17 on June 6 and a foreign exchange rate of € 1.145 per pound, the proposed takeover offers Berendsen at 12.50 pounds per share excluding interim dividend , Or a total capitalization of 2.2 billion pounds, the French group said in a statement. The previous offer from Elis was 11.75 pounds per share. The board of directors of the British group said it planned to unanimously recommend the new offer, which represents a 45% premium on the closing price of the Berendsen share on 17 May. The Canada Pension Plan Investment Board, or CPPIB, which owns approximately 5% of Elis' capital, will subscribe to a capital increase reserved to participate in the financing of this transaction, the French group, Issue 10.13 million shares at a unit price of 19.74 euros, for a total of nearly 200 million euros. -Thomas Varela, Agefi-Dow Jones; +331 41 27 47 99; Tvarela@agefi.fr ed: ECH (END) Dow Jones Newswires June 07, 2017 13:32 ET (17:32 GMT) |
Posted at 01/6/2017 18:57 by blueliner Believe there was a 'take profits' call from Questor in either todays or yesterdays Telegraph for BRSN.Unable to access story, don't know any details. |
Posted at 24/5/2017 18:59 by blueliner But can BRSN do the numbers! Enormous pressure will be put on middle management.Cashed in half my long held shares last Fri for £11 plus. The FT weren't exactly gushing in praise of the approach or Elis strategy even though it's a good geographical fit. The idea of holding Elis overseas shares doesn't appeal to me, so I've reduced the downside risk in meantime cannot see where Elis can go from here in terms of betterment, they're stretched according to the FT. |
Posted at 01/4/2017 08:36 by mattcookson Turnaround potentialBerendsen’s (LSE: BRSN) share price has slumped by almost 10% since the company warned about the cost of legacy issues from its UK textiles businesses earlier this month. As a result of increased levels of machine downtime, and bottle necks caused by inefficient machinery relating to its UK operations, adjusted operating profit for 2017 is expected to be approximately £150m, down from £161m in 2016. However, looking forward, I’m optimistic about its longer term growth prospects despite recent setbacks. Revenue continues to grow as Berendsen continues to expand into new markets, and the company has a turnaround plan for its lagging UK business — it intends to invest some £450m in improving its operational efficiency. The company has a strong track record in delivering earnings growth, with a five-year compound annual growth rate (CAGR) in earnings per share of over 13.2%. At a current price of 842p, its shares trade at 12.9 times its consensus forecast for full-year earnings per share of 65.1p. That’s a big discount to the sector average of 17.2 times, and seems unfair given its turnaround potential and above-average dividend yield. Shares in Berendsen yield 4.0%, with a dividend payout ratio of 52%. Read full article here: |
Posted at 30/3/2017 10:04 by pm032017 Berendsen CEO Buys SharesGreat time to top-up, as this is bound to head north from here on, especially as it's goes ex divi on 6th April, 22.5p final divi along with interim divi of 10p this gives a fantastic yield of nearly 5%. -------------------- Great time to top-up especially because..... DIRECTOR DEALINGS: Berendsen CEO Buys Shares Alliance News6 March, 2017 | 12:29PM LONDON (Alliance News) - Berendsen PLC Monday said Chief Executive Officer James Drummond bought around GBP1 Million worth of shares in wake of the textile services provider's profit warning on Friday. Drummond bought 122,840 shares at a price of 820 pence per share on Friday. -------------------- Great time to top-up especially because..... BRSN Chairman bought 25000 shares on Friday last week :). |
Posted at 27/3/2017 22:47 by pm032017 BRSN Chairman bought 25,000 shares on Friday. This is way oversold at the moment, BRSN is a solid profitable company which is paying good dividend, otherwise chairman wont be putting his own money in to it. Also, 22.5p dividend next week, goes ex-dividend on 6th April. |
Posted at 25/3/2017 18:29 by cjones123 Well each to their own I suppose. I am a long term investor and actually picked up a few more BRSN shares at a bargain price on Friday and will add a few more next week when some of my divi payments come through. As far as drop after ex divi is concerned, it always bounce back up to the levels before ex divi in couple of weeks time, so no issues there at all. I personally love shares that pay good divi and BRSN is definitely one of them. Given the chairman's hefty purchase of 25000 shares on Friday. This will open UP on Monday and head north switfy. Sure share price will be volatile for a few days but watch the space, BRSN will be trading over 900 in few weeks time :). |
Posted at 25/3/2017 16:45 by cjones123 Are you reffering to the results announcement below?? It really depends on how you interpret the results. Profits and revenue both rose year on year and divi was also increased by 5%.BRSN share price has been hit by market manipulation + overreaction = unexpected/senseless drop over the last couple of days. This is still a profitable and expanding business which is paying good divi, hence it rose very quickly back up to 860 level after the post result panic selling. Great BUY in my book, snap it on the cheap while you can :). -------------------- Commercial laundry company Berendsen posted a rise in full-year profit and revenue but sounded a more cautious note on its outlook as it said it will continue to be affected by legacy issues. For the year to the end of December, adjusted pre-tax profit increased 4% to £140.6m on revenue of £1.11bn, up 2% on the previous year. Statutory pre-tax profit rose to £120.3m from £113.4m as revenue grew to £1.11bn from £1.02bn. Meanwhile, the dividend per share was lifted 5% to 33p. |
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