Colliers Intl Share Discussion Threads

[wakeland] 20/3/2012 13:18

The BOD should have issued a trading statement, they might think that the FS offer is acceptable but shouldn't they then empower their poor unfortunate shareholders with at least some sort of guidance with which to make a decision.

[wakeland] 20/3/2012 13:13

First Service issued a ridiculous RNS, firstly saying that any offer would be in cash at below the prevailing price and in the next sentence they were saying that there may be no value at all.

[jojo_jo] 20/3/2012 10:15

Muzicant will deifinitely bid, if a low ball offer comes in. If they make a good offer he could opt to 'take profits'. No other reason to hold 12%... if they make a low offer and it sticks he's well out of pocket.

Brinkmanship at its worst (but at least the Colliers BOD didn't play dirty games and push out a negative trading update at the last minute, to help FS's cause - I half expected that!)

Must admit Colliers UK seems to have upped their game recently. They seem more active and interested, and have improved the website considerably. Perhaps things have improved this quarter.

IMPO/DYOR.

[caledoniaman1] 20/3/2012 09:56

What do you think a 'low ball offer' would be circa ?

[wakeland] 20/3/2012 09:53

They have until 5pm, probably bang a low ball offer in after hours.

[parsons] 20/3/2012 07:58

No news yet they cant agree a price!!!

[wakeland] 19/3/2012 12:52

Georg Muzicant has increased to 12% but it remains to be seen which side of the fence he is sitting, until he makes a serious (monetary) purchase he doesn't look like a likely bidder to me.

[joeblogg2] 19/3/2012 11:21

Lets hope a fair bid is made otherwise Sir John needs to kick the bid into touch and start looking after shareholder value!! Colliers is a respected name with value!!

[jojo_jo] 14/3/2012 22:14

Brinkmanship guaranteed.
More than enough nays to block First Service's plans. They just haven't got enough of the company to push through a low bid.
Only a good, fair bid will do it.
IMPO/DYOR.

[jojo_jo] 13/3/2012 18:09

Only a few days to go before we know what FS are planning. They have to bid, or risk losing most of their investment to date. Interesting times ahead.
IMPO/DYOR.

[jojo_jo] 12/3/2012 11:17

Creeping north. Sentiment is beginning to favour a premium offer, followed (in my opinion) by a bidding war.

[jojo_jo] 07/3/2012 13:26

On the leaderboard today, so expectations are building of bids ieo. (Estate Agent jargon for you!) 1.5p/share.

IMPO/DYOR.

[jojo_jo] 07/3/2012 09:58

Muzicant, the man from Colliers Austria still adding - OVER 11% now. Clearly has acquisitive intentions in order to expand his Austrian franchise throughout Europe (Colliers CRE gives him the UK, Spain and Ireland). This, at £10m, would be a cheap way of doing it.
Certainly gives First Service something to think about. Losing out to a rival bid would mean writing off virtually all of their investment in Colliers CRE - a darn sight more than £10m!

IMPO/DYOR.

[jojo_jo] 05/3/2012 17:21

I think they'll probably test the water around the 1.5p mark (valuing the company at a measly £2.2m). That should flush out a rival bid or two.
If they were a bit more adventurous, perhaps offer £10m for the company, it would make the rival bidders stop and think. It's worth a lot more really, but £10m might be enough to stop a bidding war.

IMPO/DYOR.

[joeblogg2] 05/3/2012 13:13

20th March not long to go to find out whether First will bid or not.

[jojo_jo] 05/3/2012 13:07

Colliers are still a major player, particularly in the Hotel/Hospitality space. The 2% - 3% commission fee for the Wyndham Grand is more than Colliers' current Mkt.Cap! It just highlights how ridiculously cheap this stock has become.
This is a rare opportunity to acquire a 5 Star London hotel - the only 'All-Suite' 5* in London. I imagine there'll be queues of buyers for this stunning, trophy hotel, which will probably go for higher than the ask. Nothing to do with Colliers, but I read a story recently about an Arab Royal departing without settling his £500k bill! Perhaps that prompted Harcourt to sell the Wyndham. It won't be hard to sell, that's for sure. An Arab will probably buy it! LOL.

I imagine Muzicant, JLL et al are biding their time, and just waiting for FS to make their move. Under JLL, Colliers could easily reduce and eventually erase the debt. The Banks would certainly welcome a takeover by them.
There will be several others interested as well. Some of them have been mentioned on here recently.

IMPO/DYOR.

[scburbs] 05/3/2012 10:22

Colliers still picking up mandates. This looks like a good one.

"Harcourt Developments will announce today it has appointed Colliers International its agent to sell Wyndham Grand hotel, in Chelsea Harbour.

The Irish property developer will ask £80m for the 158-suite west London property."

Source: Times/EGi

[jojo_jo] 03/3/2012 13:14

Mr Muzicant up to abot 11%, as of March 1st. Could be more by now. He seems to be adding steadily every week. He could soon be up to 15%.
The Colliers Austria boss is clearly still very, very interested in bidding for Colliers UK... when FS finally stop playing silly games and show their hand. They now know a low bid will certainly fail, and if they don't make a knockout bid (ie. one which values the company fairly, perhaps at £10m or more) they will probably be trumped by Muzicant, and/or others who are no doubt watching closely. 20% of turnover is a cheap price for any company, and that equates to over £13m here.

Sit tight (or add) and wait for the bidding war to play out. It's coming!

IMPO/DYOR.

PS. I notice that Jones Lang LaSalle are becoming more interested in the Hotel/Pub/Restaurant sector, a speciality of Colliers UK, so acquiring Colliers would be an ideal and cheap way of increasing JLL's presence in this space - even (combined with Colliers UK) dominating it. Clearly it would cost them many millions, and take several years, to build up a setup like Colliers UK. Why go to that expense and trouble, when they can buy a ready made market-leader off the shelf, on the cheap (and at the same time remove a major competitor!) ... AND don't forget our CEO is a former JLL director.

[jojo_jo] 21/2/2012 22:26

No news is good news.

Perhaps FS now realise that a low-ball attempt to 'steal' the company won't work (besides being apalling PR for them). They know there is at least one bidder waiting in the wings. They need to make a knockout bid now, or risk crystallising their investment losses in the event a rival bid is successful, which it will be if it is simply the highest.

A cash purchase is the end of of the road for all shareholders, other than FS and a few employees/directors, so there is no incentive to consider anything but the highest price. They will have to reconsider their tactics, or risk losing out.

Looks like a good time to add a few, at these prices. Will snap some up tomorrow.

IMPO/DYOR.

[loverat] 21/2/2012 09:12

Anyway - might see another run up here.

[loverat] 21/2/2012 07:57

Precisely.

[loverat] 21/2/2012 07:15

An extension - for more due dilligence. You have to laugh.


TIDMCOL

RNS Number : 7716X

Colliers International UK PLC

21 February 2012

21 February 2012

Colliers International UK PLC

("Colliers International UK" or the "Company")

Offer Period Extension

In accordance with Rule 2.4(c) of the Takeover Code ("the Code"), FirstService Corporation ("FirstService") was required, pursuant to Rule 2.6(a) of the Code, by 5.00 p.m. on 21 February 2012 (the "relevant deadline"), to either announce a firm intention to make an offer for Colliers International UK, under Rule 2.7 of the Code, or announce that it does not intend to make an offer for Colliers International UK. There is no certainty that at the end of this period an offer for the Company will be made.

In accordance with Rule 2.6(c) of the Code, at the request of the Board of the Company, the Panel on Takeovers & Mergers (the "Panel") has consented to an extension of the relevant deadline, until 5.00 p.m. on 20 March 2012. This is to allow FirstService to perform further due diligence.

Further announcements will be made as appropriate.

For further information, please visit www.colliers.com/uk or contact: