Share Name Share Symbol Market Type Share ISIN Share Description
Melrose Industries LSE:MRO London Ordinary Share GB00BZ1G4322 ORDS 48/7P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -1.00p -0.47% 212.50p 212.50p 213.00p 214.75p 212.50p 213.50p 101,955.00 08:37:58
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Industrial Engineering 261.1 -30.7 139.9 1.5 4,009.34

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Date Time Title Posts
15/2/201709:06rights issue28.00
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Melrose Daily Update: Melrose Industries is listed in the Industrial Engineering sector of the London Stock Exchange with ticker MRO. The last closing price for Melrose was 213.50p.
Melrose Industries has a 4 week average price of 203.58p and a 12 week average price of 195.78p.
The 1 year high share price is 218.75p while the 1 year low share price is currently 60.04p.
There are currently 1,886,746,589 shares in issue and the average daily traded volume is 6,628,643 shares. The market capitalisation of Melrose Industries is £4,009,336,501.63.
meanwhile: I've invested in MRO since 2006, with major returns. I've held little else since 2010 and will continue to hold most of my money in this company. However, I would guard against expecting too much from the share price in the short term, say 1-2 years. All investors who subscribed to the new shares have already seen a gain of over 100% since July/August, 5X the 22% quoted by bigalan3. MRO paid a 40% premium to the NASDAQ quoted value for Nortek and the 95p new issued shares (to pay for Nortek) has more than doubled since, now almost £2. This means that the value of Nortek is currently rated on the LSE at around 3 times the NASDAQ value before acquisition. We all expect MRO to increase the value of Nortek several-fold, but a 3-fold increase may already be in the price. Having made these cautious observations, I am expecting Nortek to be more than just a buy>improve>sell. I am expecting it to be a nucleus for further acquisitions and am holding for more new shares.
meanwhile: "ALLIANCE NEWS PERORT : IN THE KNOW: Analysts Welcome Melrose's Rapid Nortek Restructuring. The rapid work by Melrose Industries on Nortek underpins confidence the Melrose will be successful at turning around its new US acquisition." I don't know this Alliance News organisation and I haven't read the full article since this would involve me subscribing, spending money and then dealing with 50 phone calls from them as follow up. From what I see, they seem to compile & report news items, and not carry out analysis or forecasts, I bit like Barack Obama does. I believe Nortek is being shaped to act as the nucleus of a much bigger organisation. The company & its share price could now go anywhere when this takes off.
bashfish: what is the mechanism for paying to take up rights? i initially received an amount of MRON equivalent to the value lost when the MRO price was readjusted from ~700 to ~150, i didnt specifically request these MRON or do anything other than be holding MRO when the price was changed. i actually bought £1000 additional MRON after receiving my initial load. apart from that i didnt do anything with the MRON
steeplejack: It's surprising that buyers didn't finesse their purchases by waiting for the nil paid to float.Afterall,it would be marginally cheaper and there shouldn't be any shortage of stock given the it's a 12 for 1 rights.However,clearly the institutions have been caught short and didn't reinvest all the returned cash in the months before the deal was announced.When the dust settles,I'll be fascinated to know what sort of rating the stock stands on.I remember in the 80s,anything BTR did (led by Owen Green and Norman Ireland) was applauded with sharp share price rises.Of course,Jock Miller used to work for Hanson who similarly enjoyed star studded status.What goes around comes around.
ecoover: If ex-right price is 132p why so much rise today . When new shares will be tradable it means share price to dive.
cisk: Whilst I really like this company and the management the share price seems to have got ahead of itself recently - it will take 2 to years to turn round any acquisition and I think their target sells into consumer markets - they have traditionally bought / sold industrial companies so it seems a little different for them. Also personally I'm not really looking into ploughing a lot of cash back into the market at the moment, so decided to sell my remaining holding with a view to buying back in once the dust has settled. Who knows when / if that will be... Rather keep some powder dry - it seems like things will get a lot worse rather than better in the short to medium term. Also there are a lot of cheap engineering companies out there at the moment - likes of GKN, Senior etc, share prices so depressed. Who knows what's going to happen...
meanwhile: "-(ShareCast News) - UBS downgraded Melrose Industries to 'neutral' from 'buy' with an unchanged price target of 385p following the recent strong performance, saying the next deal is more reflected in the price. The Swiss bank noted Melrose is up 33% year-to-date, outperforming its UK engineering coverage by 25% YTD. As a result, it has reached UBS's target price. "Melrose operates an unusual 'buy, improve, sell' business model and the current leverage to any future deal upside is high given the small nature of the continuing group. "This is being factored into the share price today - we estimate that a c£2bn deal on which management double equity over 3-4 years is now being priced in." UBS said delivery on a new deal in line with past deals could create an upside case of 425p per share. The bank said Melrose is hoping to at least double shareholder equity on any deal it undertakes, adding that if history is anything to go by, it's likely management can deliver.-" End. This is good thinking for a broker. All they need now is to get the simple Maths right.
meanwhile: MRO almost at 360p now. The rise, not spectacular, seems almost relentless. So why the rise and how far could it go? It's unlikely to be Brush; so it's likely to be speculation around the next acquisition. This itself is hardly a revelation, but you may wish to read on. An understanding of Logic is required. I've followed MRO for over 10 years and they have made me some money. I've no wish to drive up the share price now, (because I'll be keeping my shares well into the future), but I am pleased to share my positive view of possible future moves in the price, based on my experience with MRO. MRO's past acquisitions have invariably been a great success. The higher market has been slow to acknowledge this but I believe it's happening now. Their acquisitions, for which they paid market price (or sometimes seen as a little above), are now seen as having been cheap, at least to MRO. Cheap because of the potential for MRO to transform each business and, of course to MRO, they were always cheap. The next acquisition, if viewed in the same light as past acquisitions, I expect will now be seen by the market as a cheap deal for MRO. And it could be a big one. The current capitalisation of £500M might need to add £3B, possibly more. It could be financed in a variety of ways but a big rights issue is expected to be part of it. We could see, just as a guess, an offer of 3 new shares at £3 for each old share currently held. This could raise almost half the £3B. The rest could come from a placing. Now the main factor affecting the old MRO price at that point, is what the market saw that £3 raised being worth, when in MRO's hands and paying towards the acquisition. They could see it as a mediocre deal and see the £3 as still valued at £3, or even less if they saw it as a bad deal. But they could see it as a great deal for MRO, and see the £3 as being (in its new home) being worth £3.50p (50p premium) or more. Before the new shares were traded, that premium would go on the old shares, because they would carry the option to buy shares (re-valued at £3.50) for £3. At 3 for 1, the premium would be 3x 50p = £1.50 total. So where would the old shares trade then? My guess is that the next acquisition will be seen more widely by the market as a great deal for MRO.
meanwhile: The Capital Return and the consolidation left investors with about 15% of their original investment. Investors still keen to invest in MRO have plenty of cash to take up an expected Rights Issue, but probably too much cash & too little shares. Taking this view, some investors will have been topping up their holding of MRO shares. It could have been done, if you were quick, at around 295p, as Eipgam has said. It could be done now at 343p. But is this too high and should we wait? Well if the market as a whole slumps, MRO will follow, and waiting will have paid off. If the market doesn't slump before an acquisition & Rights Issue emerges, buyers could be trampled in the rush. (There just aren't many MRO shares around these days.) Better to have shares to sell at this time to raise cash for the Rights Issue. The Elster example, movements in the MRO price over the acquisition period, would support this. I write this not for personal gain or benefit or from greed and avarice, but for the possible benefit of any of my non-professional colleagues on this site, who might wish to consider this view. I myself have modest needs; I always say that "Excess should be quite enough for anybody".
meanwhile: Take a look at the 10 year MRO share price graph. There's no cycle to be seen there, just a relentless rise, a major downward blip with the banking crisis and a few small ones for various reasons which now appear insignificant. This one will join them.
Melrose share price data is direct from the London Stock Exchange
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