Enodis Share Discussion Threads

[sharedoc] 17/8/2006 13:10

level 2 loking very strong, looks like its gonna move up !!

[amedin] 09/8/2006 10:45

hmmm

bit of a nasty surprise.

seems the deal fell through for regulatory reasons regarding ice machines.

price reaction seems a bit harsh though, surely the 2 bids have proved the assets/market positioning are worth at least 195p?

[grigor] 20/6/2006 01:11

Tucked away, a worldwide sensation

From its North American base, an international company helps fast-food places keep the hot stuff hot and the cold, cold.

[2shemshersingh] 08/6/2006 08:18

Enodis bidders are offering bids in reflection of a major correction to the markets. The board of ENO won't be able to keep rejecting these offers when the market is falling so badly. Manitowoc's share price has been falling with the overall market declines but ENO has enjoyed a high price tag. When the bidders dry up this stock could fall with the overall market.

[grigor] 08/6/2006 00:46

Enodis rebuffs £800m offer from US rival
By Lina Saigol, Mark Odell, Sarah Spikes and Neil Hume
Published: 7/6/2006 | Last Updated: 7/6/2006 21:05 London Time

Enodis has rejected an approach from Manitowoc of the US in a deal which would have valued the London-listed kitchen equipment maker at more than £800m.

Manitowoc, the crane-to-food services group, approached Dave McCulloch, chief executive of Enodis, earlier this week, according to people familiar with the situation. The approach, which came from JPMorgan Cazenove, Manitowoc's advisers, was pitched at between 205p-210p a share, those people said. However, Mr McCulloch and his board are understood to have rejected the approach on the grounds that it undervalued Enodis. The shares closed down ½p at 199¼p on Wednesday.

The move comes just one month after Enodis rejected a 195p-a-share approach from Middleby, the US manufacturer of food and drinks equipment, which would have valued Enodis at around £796m. Middleby is advised by Bank of America. CSFB is advising Enodis.

Last month, Enodis increased the pressure on its two US bidders when it reported better-than-expected first half profits.

The company saw interim pre-tax profits jump to 24.4m, from £8.8m a year earlier, lifted by a strong performance across all markets.

Enodis refused to comment on the Manitowoc approach last night. But speaking to the FT earlier on Wednesday, prior to news of the approach emerging, Mr McCulloch said the board would act if the right offer came along.

"We will do the right thing by our shareholders. At the moment the right thing for me is to focus on growing the top line and bottom line but if somebody came along and offered the shareholders value faster, so be it," he said.

Enodis's executive team is based in Florida, reflecting the fact that the US food services market accounts for more than three-quarters of its turnover.

Enodis is attractive because of its spread of business in both hot and cold food preparation and its global reach. It is one of the market leaders with an estimated 6 per cent share of a highly fragmented market. Its biggest customers include McDonald's and Burger King.

Other potential bidders could be waiting to pounce. Bankers and analysts have suggested Illinois Tool Works and UTC could emerge as possible US suitors. In Europe interest could come from Sweden's Electrolux, Italy's Ali, Germany's Rational or the UK's Aga.

ΠΗΓΗ: FT.com
Copyright The Financial Times Ltd. All rights reserved.

[2shemshersingh] 05/6/2006 21:04

The way the Sow closed today is scary for tommorow's open in UK stocks.

[2shemshersingh] 04/6/2006 09:25

once again simply rumours and nothing concrete in regards to further M&A news. The charts indicate a futher breakout above 200p but first we may see the stock touch 195p and move within a tight range for a few days before a breakout on the up or down side. My bet is upside.

[2shemshersingh] 02/6/2006 08:15

DAILY MAIL ARTICLE THAT THERE ARE 2 MORE BIDDERS. Has anyone read this news? Daily Mail not a credible paper compared to say FT.

[2shemshersingh] 02/6/2006 07:37

I'm sure it's not criminal offence to speculate or react to market rumours. I was looking for a buying signal and feel the way ENO closed at confirms something brewing. My stop limit is 184p with a target price above 220p.

[handycam] 01/6/2006 20:57

If we did and posted the reason, then that would constitute a criminal offence, I'm afraid.

Yours etc.,

[2shemshersingh] 01/6/2006 16:19

It seems something is happening with this stock, clean break above 190p on high volume. My speculation is something may happen soon like bid news. Anyone know why the stock has broken up?

[2shemshersingh] 01/6/2006 15:19

looks like it touched 191p but then fell back. I needs to break above 190p and close around 191p for further upwards moves.

[2shemshersingh] 01/6/2006 12:36

It's critical that ENO breaks to 193p on heavy volume to confirm a major upswing in the stock above 200p.

[2shemshersingh] 31/5/2006 08:24

looks like eno is holding up and not falling heavily, volume very light.

[2shemshersingh] 30/5/2006 21:13

I'm bit shaken seing how the dow closed. I hope this stock does not follow the main market like today. Ftse down 139 and this stock down a touch. Each day await for announcement of merger details from ENO such as further possible bidders or further developments from Middleby offer.

[2shemshersingh] 30/5/2006 08:11

I have a notion that Eno could attract a venture capitalists bid that has deeper pockets than corporations. The capitalist may know Enodis's competitors are interested in the company but may prefer specific areas of the business. The capitalist would break up the company and sell off sectors to interested parties and achieve more value in a break up than as an entire entity. This is just my view.

[2shemshersingh] 28/5/2006 11:23

I think as rumours circulate the stock will continue to trade within a tight range. A sudden tick in volume and spike to the share price maybe the first indication of an announcement by the bidder or ENODIS board. I've got my mind set on the trigger and will buy into this stock at the moment the stock breaks the 193p mark on high volume. The close on 190p is right on the resistance point. I was looking for a clean break above 190p and a close around 191p to confirm a short term breakout within the previous week's trading range.

[2shemshersingh] 28/5/2006 11:16

The chances of a bid auction developing for Enodis (ENO.LN) have reduced following Middleby's announcement it's unlikely to proceed with a 195p offer without the full support of the Enodis board, says an analyst. But, while this may weigh on the stock, he reckons significant erosion of the shares is unlikely as much of the rally Monday was based on the positive performance in 1H. Shares trade -1.8% at 196p.

[grigor] 27/5/2006 03:19

Enodis Up; Electrolux Bid Speculation Buoys

Friday, May 26, 2006 11:09:37 AM ET
Dow Jones Newswires

1401 GMT [Dow Jones] Enodis (ENO.LN) +1.6% at 190.25p. Traders say the stock is taking strength from speculation Electrolux is considering a bid for the company. Michael Blogg of Arbuthnot says he wouldn't be surprised at such a move as Enodis "has likely been on a number of company's radar screens."He says a bid by Electorlux would be logical if it wants to grow in the food service sector as it would give it 5%-6% market share in one fell swoop. Electorlux decline to comment. (DWE)

[2shemshersingh] 25/5/2006 08:33

The charts indicate a break above 190p will push to the 195p support level and a break below 184p will hold support at 180p. I think this stock will trade within a tight range until news breaks out. As each day goes by I await news from Middleby bid development. Whether a higher bid will be made.