Biffa Share Discussion Threads

[coogar] 20/12/2007 21:19

call-logger - 20 Dec'07 - 11:50 - 1784 of 1787

ideal420

"If it all goes through, an automated sell goes through for the price and you then have the cash"


Not quite true. You still have to accept the offer first.

Let's not get too far ahead of ourselves... The mooted 350p recommended offer has yet to materialise and might not in the end.

In at 237p, I guess I'm in a good position. For the moment at least I think I will concur with IC and HOLD for now.

[jeffian] 20/12/2007 19:41

Doesn't stop a higher offer coming in, peterz. If anything, it's an invitation to any other interested parties to come and put their money on the table. It says "Look, we're in play".

Regards, Ian

[peterz] 20/12/2007 19:33

Is that good business sense to say will recommend £3.50. Dosnt that mean that bidder will not go above that price.

[markinthepark] 20/12/2007 15:52

Biffa bidder has another shot
Created: 19 December 2007 Written by: Algy Hall
The Biffa bid saga continues, and this time it looks like it could be drawing closer to a conclusion, with a private equity consortium of Montagu Private Equity and Hg Pooled Management now prepared to offer 350p per share for the waste management group.

Advertising


The bid is based on a number of pre-conditions, including a successful outcome to their due diligence. For its part, Biffa has said the bidders will be able to nose through its books and if a firm offer is made at the 350p level, it will be recommended.


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IC VIEW:
Biffa is seen as a tasty prize for infrastructure players, so the possibility of a rival offer cannot be ruled out, despite the chronic conditions in the credit market and the fact that the shares are yet to climb above the mooted offer price. At 338p, we'd advise sitting tight.


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[call-logger] 20/12/2007 11:50

ideal420

If it all goes through, an automated sell goes through for the price and you then have the cash

[mitzis] 20/12/2007 10:02

Telegraph comment..

[ideal420] 19/12/2007 23:16

While 4/6 of my holdings are in the same position as biffa, I'm yet to actually complete the process.

(I should add the others, the takeover prices are much lower than I paid, so its not good news)

What happens?

If it all goes through, does an automated sell go through for the price and I then have the cash and option to buy back.

Or does the price just jump to 350 on the day and its a a free for all thereafter or ...?

I would be surprised there isn't a counter offer from Veola or some other organisation, simply because this is as cheap as it gets given the ever rising cost of landfill and lack of new permits being issued. It's a lockin!

[markie7] 19/12/2007 20:24

might sell as well - board have given up here in my view.

[colonel rigger] 19/12/2007 20:23

Dov - 19 Dec'07 - 20:09 - 1779 of 1779


think this is as good as it will get cant see a bidding war breaking out in this current climate

I agree with your post sold 5,000 shares today

[dov] 19/12/2007 20:09

think this is as good as it will get cant see a bidding war breaking out in this current climate

[46pete] 19/12/2007 17:05

Hopefully they are just testing to see if anyone else may be lured in.

[coogar] 19/12/2007 16:39

So, the Biffa board feels that a bid pitched 330p/share "materially undervalues" the company, yet are prepared to recommend an offer of 350p, an increase of a mere 6%.

Why?

[pippin99] 19/12/2007 15:44

No way. Much too cheap.

This is just the start imho..

[wad collector] 19/12/2007 08:27

It shows what 6 months in the market does ; 350p would have been laughed at in the spring.Price is 340 as I write - presumably there remains some doubt about the process.I shall happily settle for 352 (including dividend ).

[mitzis] 19/12/2007 08:16

too cheap.

[mitzis] 19/12/2007 08:16

too cheap.

[holts] 19/12/2007 08:15

0812 GMT [Dow Jones] A 350p/share bid for Biffa (BIFF.LN) may appear generous, but is not enough, says Kevin Lapwood at Seymour Pierce. Biffa has agreed to allow Montagu Asset Management and Hg Capital a period of due diligence on the understanding that they are prepared to offer 350p a share if the outcome of the scrutiny is successful. Lapwood believes this isn't the end of the process "although it is the end of Biffa as a quoted entity." Thinks a price closer to 400p is more realistic. Maintains outperform rating and 380p target. Shares trade +7.2% at 341p. (JNC)

[holts] 19/12/2007 08:04

was afraid that we were at the wrong end of market euphoria.

[elmfield] 19/12/2007 07:54

in these markets, not bad.

[call-logger] 19/12/2007 07:40

350 it is then (link to News is in the header)

Seems a bit cheap to me

[wynmck] 17/12/2007 18:05

Mail on Sunday;
..."the Company has spent the last few months being courted by two private equity groups,Montagu and HG Capital.
Biffa rejected their second ofer of 330p at the beginning of this month.
However most City followers expect further action.Hold the shares."

[46pete] 14/12/2007 07:37

More like a graph of the new England managers bank balance!!

[oldvic] 13/12/2007 19:03

no i think its the amphibious landing craft formation basil

[tom89] 12/12/2007 15:49

Is that there chart what they call a cup and handle?

[mitzis] 12/12/2007 09:02

Too late its up again.