Intl Power Share Discussion Threads

[aleks_atanasov] 29/3/2012 13:48

yeah by the way its impossible to predict a bid outcome.

[waldron] 29/3/2012 13:40

FT gives highest consensus target as 417P

[aleks_atanasov] 29/3/2012 13:34

fair value would be +20, 30% if someone else tried to buy it.

[elmfield] 29/3/2012 13:27

shows we are at fair value,

[waldron] 29/3/2012 13:25

GDF Suez Makes Non-binding Offer For Rest Of International Power
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Gdf Suez (EU:GSZ)
Intraday Stock Chart
Today : Thursday 29 March 2012
French power operator GDF Suez SA (GSZ.FR) Thursday confirmed that it made a non-binding indicative proposal to buy the shares in U.K.-based International Power PLC (IPR.LN) it doesn't own yet at 390 pence each, insisting such a transaction would provide "significant benefits to both businesses."
The group "strongly believes that the indicative proposal offers attractive terms to International Power shareholders" and that a merger would simplify GDF Suez's structure and improve the further integration between the businesses.
The move is supported by the two largest shareholders of GDF Suez, the French state, which owns 36%, and the Belgian investor Albert Frere's holding Groupe Albert Frere, which owns 5.2%.
Earlier Thursday, International Power said that it had received such a proposal.
GDF Suez is now required, by no later than 1600 GMT on April 26, to either announce a firm intention to make an offer for International Power or announce that it doesn't intend to make an offer.
The news sent the group's share price down--at 1141 GMT, share in GDF Suez were trading down 1.8% to EUR19.09 while the CAC-40 benchmark index was down 1%.
Would the transaction proposed be completed, GDF Suez would remain committed to maintain its A credit rating and would also consider increasing its asset disposal plan, it said.
The group has planned to dispose of EUR10 billion worth of assets between 2011 and 2013. Earlier this year it said that in 2011, it sold two thirds of the assets sales that were planned over the period.
In February last year, GDF Suez finalized the combination of its international operations outside of Europe and some assets in the U.K. and Turkey with International Power, creating the world's largest private power generation group.
- By Geraldine Amiel, Dow Jones Newswires; [phone]; [e-mail]

[waldron] 29/3/2012 13:09

International Power Gets 390P Bid Approach From GDF Suez
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Intl Power (LSE:IPR)
Intraday Stock Chart
Today : Thursday 29 March 2012
International Power PLC (IPR.LN), a power generation group, said Thursday that it has received a non binding indicative proposal of 390 pence in cash per share from GDF Suez S.A (GSZ.FR) to acquire the outstanding 30% it does not already own.


MAIN FACTS:
-GDF Suez is now required, by no later than 1600 GMT on April 26, to either announce a firm intention to make an offer for International Power or announce that it does not intend to make an offer.


-International Power shares at 0906 GMT, up 18 pence, or 4.6%, at 4,014 pence valuing the company at GBP19.53 billion.


-By Rory Gallivan, Dow Jones Newswires; 44-20-7842-9411; [e-mail]

[aleks_atanasov] 29/3/2012 12:25

yeah me too, but emotions have no place in this business. :)

some headlines on dow jones from GDF blah blah blah .. they have support from theyir largest shareholders for that 390 offer and that the offer is an "attractive opportunity" for IPR shareholders..

[hillbrown] 29/3/2012 12:13

Understand what you are saying Aleks but even so they will have to do better than that. I'm not suggesting north of a fiver which is what a norm would imply but 10/20% will be needed. I'm slightly biased cos I have levered up with a CFD.

[aleks_atanasov] 29/3/2012 11:34

i dont think so, they generally need 50% of the shares to delist it, apparently they dont want to do this so next step is somehow to get it to 90% of the shares so that they can compulsively acquire the other 10%. Now they already have circa 70%... so they need only 20% of the shares.

There are many possible outcomes from here. But this isnt a normal T/O with say 20-30% premium because GDF holds so much which means it can and will squeeze the other holders.

[hillbrown] 29/3/2012 11:25

But if she put the money in PFD, maybe not so daft.

Even without a counterbidder its going to go for more of a premium. Greed and ego will do the trick. Takeout in the range of 420/450.

[optomistic] 29/3/2012 11:03

The directors who sold earlier in March must be thinking....... oh dear I got that wrong :-/
especially Mr Riley whose wife sold 200K... there will be some chilly times there if he advised her to sell.
Just shows that the directors are human after all and sometimes like the annalists not too bright. LOL

[cool runnings] 29/3/2012 11:03

This will eventually go at 425p IMO

[aleks_atanasov] 29/3/2012 10:53

03/20 *DJ International Power Group Cut To Neutral From Buy By Nomura

[aleks_atanasov] 29/3/2012 10:52

"Directors advise no action at this stage." - well they always say that when they announce they have been approached.
As for why the share is trading for more than 390 - 100% cause someone is buying in anticipation of higher offer.

[jaws6] 29/3/2012 10:50

Which broker downgraded in last week ???
is he on Gdf list ?

[jeffian] 29/3/2012 10:49

I'm usually the same, aleks, but it's hard to understand in this case why they are trading at a 15p premium to the bid. There's going to be no counter-bidder and the UK Directors are hardly in a strong negotiating position! My broker was at a loss to explain, but wondered if there may be expectation of a dividend on top, but the divi that's due is only around 5p. Was tempted to take the current opportunity but note that the Directors advise no action at this stage.

[aleks_atanasov] 29/3/2012 10:46

dow jones - traders say 425 is possible if they can secure approvals

[aleks_atanasov] 29/3/2012 10:45

as a rule of thumb i dont sell and dont take the first offer.

[jaws6] 29/3/2012 10:41

I sold half 404 , no idea where they will go

[wipo1] 29/3/2012 10:39

not sure whether to sell or hold?anyone any thoughts?

[jacks13] 29/3/2012 10:37

It will come down to what the institutional holders will accept. As jeffian says GDF have the field to themselves.

[aleks_atanasov] 29/3/2012 10:18

nobody, apparently if GDF want to delist it they have to pay more. But.. lol 2% premium that's a laugh.

its the first time i see such a tizzy situation.

[jeffian] 29/3/2012 10:14

Interesting that the price has shot to a premium of the suggested bid price of 390p. Why would it do that? Who is going to counter-bid with GDF holding a controlling stake?

[megabear] 29/3/2012 10:11

That analyst is a muppet.

[aleks_atanasov] 29/3/2012 10:08

lol what fuc* is this T/O at 2% premuim