Shearwater Share Discussion Threads

[indomie] 28/6/2010 08:48

The results are pretty impressive - debt has been wiped out, pension deficit down.....

£2.10 offer includes the final dividend.....

[the_bhoys] 28/6/2010 08:47

Not suprised to see URS bid for a UK consultancy given the strength of the dollar against sterling. They took over Thorburn Colquhoun about 11 years ago, and then Dames and Moore.About four years ago they were actively courting Mouchel but nothing ever came of it.

[dickbush] 28/6/2010 08:26

Toriel

The market was treating the shares a bit like BT's: the share price was as much affected by the expanding deficit on the pension funds (negatively) as by its recovering profits (positively).

IMO we are getting a fantastic price for our shares, considering the pension fund's deterioration over the last 12 months. I can't believe that there's another bidder willing to pay more. More power to his elbow!

A big thank you to the negotiating team at SWG. I'd hate to play poker with those guys.

[spot1034] 28/6/2010 08:24

WSH up a little which is perhaps a reaction to this news, but HYC not moving higher yet. I'd have thought they now look very cheap indeed after this news - perhaps on the radar of one of the rejected suitors here.

[spot1034] 28/6/2010 08:18

I think the market has been far too harsh on companies dependent to any extent at all on UK public spending. SWG's exposure to this problem was not as severe as the market was pricing in.

[toriel] 28/6/2010 08:14

I find it interesting that a company (or maybe more than one company) values SWG at over 200p per share when the market was unable to see value anywhere near this.

I'm certainly pleased to have doubled my money in this company, and I appreciate there will be gains from synergies, cross-selling and so on that justify a significant premium over the price a few weeks ago.

However, a company which a month ago everyone thought was worth a pound per share is suddenly worth two. That doesn't say much for (i) our judgement as shareholders of the potential of the company; or alternatively (ii) the company's provision of information that allows us to make such a judgment; or alternatively again (iii) the bidder's ability to assess the company.

Something has gone wrong (though from the point of view of those of us lucky or clever enough to hold the chares, much has gone right). So what is it? Does the extent of the synergies really mean that a doubling in share price is justified? If so, why did the market not see this? If not, how has the bidding company got it so wrong?

[wormcatcher] 28/6/2010 08:14

Taken 225p having held from 55p - all the best to everyone.

[chrisis33] 28/6/2010 08:12

You could take half? (not holding here)

[zangdook] 28/6/2010 08:11

To take 225p now or hold to September for...how high might this go?

[celeritas] 28/6/2010 08:09

The only reason I took this on Chips comp was for the takeover, it was a sitting duck at the 100p level and rightly so, well done long term holders.

[zangdook] 28/6/2010 08:05

What are those big trades at 220p?

Edit: well over 220p now

[spot1034] 28/6/2010 08:04

What do people think? Is there more in this yet? I'd have said 210p was intended to be a knock-out bid - obviously they knew others were interested and would come in if they pitched the offer too low. I don't think many of us were expecting more than 200p This is going to be a difficult one to call now.

[dickbush] 28/6/2010 08:02

OH, I ALMOST FORGOT. YAHOOOOOOOOOOOOO!!!!!!!!!!!

[dickbush] 28/6/2010 08:01

WITH CH2M IN THE FRAME IT WILL OPEN ABOVE 210P

[celeritas] 28/6/2010 08:00

Looking good guys, seems I was near the mark with circa 200p.

[spot1034] 28/6/2010 08:00

A great start to the week and a better offer than most of us were expecting I'm sure.

[foodcritic] 28/6/2010 07:42

No. It will open very near the offer.

[sharestriker] 28/6/2010 07:39

Please excuse my inexperience but will you still be able to add to your investment when the markets open at £1.20+?

[abcd1234] 28/6/2010 07:29

Interesting....The second player now says they are considering what to do.....

2nd RNS out now :



~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
CH2M HILL announcement re Scott Wilson

CH2M HILL Companies, Ltd ("CH2M HILL") notes today's announcement by URS
Corporation of a recommended offer for Scott Wilson Group plc ("Scott Wilson").

CH2M HILL has undertaken due diligence on Scott Wilson and is considering its
position with respect to making a cash offer for Scott Wilson. CH2M HILL will
make a further announcement shortly.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

[abcd1234] 28/6/2010 07:28

For the last 2 weeks, since the "multiple bidders" rns came out, you could buy this share, in quantity, at 120p. And now the recommended offer comes in at 210p., 75% higher. Even warren buffet would say 2 weeks was not long to wait for such a return ;O)

[empirestate] 28/6/2010 07:24

well done players

[abcd1234] 28/6/2010 07:18

amazingly quiet here, now this offer is out

though I expected the results tomorrow, so that may be the same for others too

[zangdook] 28/6/2010 07:12

Though I liked this company and I'll be sorry to lose my involvement with it.