||EPS - Basic
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Real-Time news about Brit (London Stock Exchange): 0 recent articles
|kefta: Having bought in September I was expecting a longer ride than this. However, the offer effectively draws a line under the share price and I'm happy to take the profit and move on.
I'm undecided whether to sell or let nature take its cause and wait for the payment. As with comedy the Stockmarket is all about timing, sometimes the hardest thing is to do nothing. With the Greek situation and a pending election I feel we maybe due another fall back before the FTSE eventually breaches the 7000 mark and sails in to unchartered waters.
As others have mentioned I do like the look of LRE and PHNX.
Good Luck All|
|guernseymoney: Can I please ask - are those that hold planning to sell now or wait for divi/buyout?
280p plus dividend of ??
Am not sure what to do...
ps: FT blurb as follows:
Canadian insurance group Fairfax has swooped for Brit, agreeing to pay £1.2bn for the FTSE 250 insurer, less than a year after it was listed on the London Stock Exchange.
The UK insurer remains majority owned by Apollo and CVC, which have been exploring ways of selling their remaining stake. The FT reported yesterday that a sale of Brit was close.
Fairfax has obligingly tabled a 280p a share offer, and existing shareholders will also still receive a 25p cash dividend for 2014. That represents an 11.2 per cent premium on the closing share price yesterday.
The board of Brit has unanimously recommended that shareholders accept the offer, and both Apollo and CVC have signed irrevocable undertakings to sell their shares.
Prem Watsa, the Fairfax chairman and CEO known for contrarian bets on the eurozone periphery like the Bank of Ireland, said:
We welcome Mark Cloutier and his market leading specialty insurance and reinsurance team at Brit to our expanding global specialty platform. Brit has an outstanding track record over the last ten years and will continue to operate on a decentralized basis once owned by Fairfax.
With the acquisition of Brit, Fairfax will have a significant top five position at Lloyd's of London. We look forward to working with Mark and the entire Brit team to further develop their business over the longer-term.|
|lonrho: yes there may be a sell off related to various reasons but it is unlikely to relate to private equity reducing their stake in an undisciplined way. They have had loads of time to agree in principle a sale with institutions subject to final pricing dependent on market conditions and the brit price at the relevant date.|
|speedsgh: ramridge - all depends on your investment objectives. if the share price is hit as you suggest, it might be a very good opportunity to use the weakness to buy/add to one's holding to lock in an even better dividend yield. que sera.|
Brit share price data is direct from the London Stock Exchange