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Real-Time news about Concateno (London Stock Exchange): 0 recent articles
|mercury123: Don't like the look of such big sells but it hasn't decimated the share price so maybe we're OK. Wish they'd get on with their announcement.|
|mercury123: Aviva's just taken a major long position in this - could be an interesting move tho the share price seems unmoved|
|dibbs: Papal Power,
As you say, in a recession environment... so who knows. It is very hard to second guess where a bid will or will not appear. I'm sure that some companies create the takeover smoke where this is no fire in a vain hope to jack up an ailing share price.
Certainly COT is one that I shall keep an eye on. The share price is back towards the base of an uptrend that remains intact. Not bad given the market this year. Using basic trend lines and the 200 day moving average you could argue these are worth a flutter... then again if the markets tank some more it may not!
HAT looks interest also, thanks, another one to keep an eye on.
OT, KENZ, a bit quiet really. Then again newsflow as has been seen from HMS can soon perk things up! I reckon that the downside should be fairly limited overall, a few will sell because the price of crude is falling but you do not need $150 oil for activity to remain high within the sector.
|dibbs: PapalPower - do you think that there will be a bid then? Surely it would be at a reasonable premium to the current price. Share price suggests a bid will not follow..
Looks an interesting company, new to me I have to admit.
|vatattack: From Sunday Telegraph
Concateno considers £460m bid for East Surrey Holdings
By Andrew Murray-Watson (Filed: 10/04/2005)
Concateno, the cash shell, is considering a £460m counter-bid for East Surrey Holdings, the gas and water group which last week accepted a takeover offer from Terra Firma, the investment firm run by Guy Hands.
Advisers for Concateno, which was set up to consolidate the UK water sector, are due to meet with Pat Barrett, the chairman of East Surrey, early this week.
Concateno, which listed on the Alternative Investment Market just last Thursday, is only interested in East Surrey's water business, Sutton East Surrey Water, which is valued at about £140m. Terra Firma just wants to retain East Surrey's £300m gas distribution division in Northern Ireland.
It is understood that Concateno does not want a bidding war with Terra Firma and would prefer to do a deal with Hands to carve up East Surrey for their mutual benefit. However, it is prepared to make an offer for the entire group if an agreement with Hands' company is not possible.
Terra Firma has gained the backing of East Surrey's management to float off the water business immediately after the takeover is finalised. But Concateno, led by veteran water industry executive Keith Tozzi, hopes that a reversal of Sutton East Surrey Water into its listed cash shell would be just as attractive.
Kellen Acquisitions, newly formed by Terra Firma, has agreed to pay East Surrey shareholders 525p a share in cash, and an interim dividend of 10p per share, worth £453m. This represents a 13 per cent premium on East Surrey's share price on April 6, the last day before details of the approach were made public.
Concateno's consolidation strategy focuses on the south east of England where a clutch of smaller companies is up for grabs. However, Ofwat has stated its opposition to a reduction in the number of water companies.|
Concateno share price data is direct from the London Stock Exchange