|Scott Wilson Group
||EPS - Basic
||Market Cap (m)
Real-Time news about Scott Wilson (London Stock Exchange): 0 recent articles
|25babies: No idea who bought. Just assumed URS otherwise share price would have risen if anyone else.|
|dickbush: INDOMIE - 29 Jun'10 - 07:57 - 1246 of 1248
I wonder how the SWG board got this so wrong? Surely they must have known CH2M were prepared to pay more than £2.10 but recommended URS?
In these situations the board of the target company tends to look at things that have nothing DIRECTLY to do with the share price eg how many have jobs with the acquiring company, how good their compensation is going to be, length of service contracts, options etc etc.
My guess is that the above is all a lot better for the SWG execs if URS is the acquirer, and may explain why they need only to match the best offer to retain the Board's backing.
This is one time when I don't mind the execs looking after themselves a bit. They've certainly looked after me.
I can hardly believe I'm saying this, but well done SWG's advisers for getting an agreement with URS that makes them respond so quickly.|
|indomie: US giants URS and CH2M Hill in Scott Wilson bidding war
28 June, 2010 | By NCE Editorial
US giants URS and CH2M Hill have this morning revealed they are in a bidding war for consultant Scott Wilson.
Scott Wilson has told the London Stock Exchange that it is recommending to its shareholders a buy-out by US consulting giant URS. URS would pay £2.10 per Scott Wilson share, valuing the company at £161M.
But programme management giant CH2M Hill has also told the Stock Exchange that it too has completed a due dilligence assessment of Scott Wilson and is deciding whether to match or improve on URS' offer. It said it "notes" the URS offer and that it will make a further announcement "shortly".
Scott Wilson chairman Geoff French said the board was recommending the URS offer because it represents a "compelling proposition" for shareholders, customers and employees.
"The board of Scott Wilson considers that the Offer, at a price of 210 pence per Scott Wilson Share in cash, provides a compelling opportunity for Scott Wilson Shareholders to realise a significant premium in cash, and reflects the underlying value of Scott Wilson," said French.
"As part of an enlarged and global group, our employees will be able to participate in larger and more complex projects as well as benefit from further investment in new areas of expertise and international markets where Scott Wilson has already established strong foundations.
"In an increasingly global marketplace, the board believes that a combination with URS will significantly enhance Scott Wilson's future prospects and we are excited about our future together," he said.
URS chairman and chief executive Martin Koffel said the takeover was an important step forward in his firm's strategy to expand in the UK infrastructure market and in other key regions around the world. URS believes that the acquisition of Scott Wilson will increase its non-US revenues to approximately 14% of total revenues from the current level of approximately 8%.
"Scott Wilson's market sectors are well aligned with URS's existing focus," said Koffel. "In addition to its strong infrastructure practice, Scott Wilson is well positioned in the environment and natural resources sectors, including the nuclear power market, which is a key area of strength for URS."
Takeover speculation was triggered earlier this month when a large movement in Scott Wilson's share price forced the firm to announce that it had received approaches with regard to a possible acquisition.
Following these approaches, Scott Wilson provided due diligence information to a number of undisclosed parties, including URS.
If no further offers are made, shareholders will be asked to vote on the URS bid on or around 30 July.|
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.|
|toriel: 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?|
Scott Wilson confirms takeover bid
7 June, 2010 | By NCE Editorial
Scott Wilson has told the London Stock Exchange that it has received approaches with regard to a possible acquisition of the company.
In a statement it said that the board had noted the recent movement in the company's share price and announced that it has received approaches with regard to a possible acquisition. There can be no certainty that these approaches will result in an offer for the company, it said.
Contractor Costain has already been linked with an acquistion of the firm. In March it unveiled an ambitious strategy to expand significantly in consultancy and engineering design in order to offer clients the "full life cycle" of services. Chief executive Andrew Wyllie said the expansion would be fuelled by acquistional and organic growth.
The firm currently regularly works in alliance or network with Capita Symonds, Halcrow, Land Bridge Associates, Shepherd Gilmour, but also works regularly with Scott Wilson.
Wyllie unveiled the strategy, dubbed "Choosing Costain" as he announced preliminary results for the year ended 31 December 2009 showing a record turnover of £1.1bn, a record order book of £2.6bn and a net cash balance of £121M. In 2008 the firm turned over £996M and had an order book of £2.0bn.
Analysts said the potential buyer was likely to be an overseas firm making a speculative bid. Grontmij said it "could not confirm" whether it had made a bid. In January it said it was looking for acquisitions in fast growing markets such as central and eastern Europe. Scott Wilson employs over 200 staff in Poland based in offices in Warsaw, Poznań, Wrocław, Kraków and Gdańsk. The company's activities in Poland are principally in the road, railway and environmental sectors.
Scott Wilson would not comment on speculation and said a a further announcement will be made when appropriate.|
|yoyoy: We normally ignore this type of RNS but is it possible that this is related to the fall in the share price - whoever the shares were transferred to is now selling them.
"RNS Number : 4065G
Scott Wilson Group plc
01 February 2010
01 February 2010
Scott Wilson Group plc
In accordance with paragraph 12.6.4 R of the Listing Rules, the Company advises
that it has made the following transfers of ordinary shares out of treasury:
1. 1,465,951 ordinary shares of 10 pence each were today transferred out of
treasury as part of the deferred consideration in relation to the acquisition of
Benaim Enterprise (Holdings) Limited.
2. The highest price paid for a share was GBP1.03475.
3. The lowest price paid for a share was GBP1.03475.
4. Following the above transfer of shares out of treasury, the Company holds a
total of 2,709,049 ordinary shares of 10 pence each as treasury shares.
5. The total number of shares in issue excluding treasury shares is 73,466,397.
|cwa1: Yes, I agree. I see this as telling the market they are most likely to beat expectations and certainly not be below them even IF things are not 100% uniformly great out there. Given how poorly the share price has been performing I think expectations of a warning had been baked in and this alomost a pleasant surprise. Just IMHO.|
|deadly: Don't know why anyone thinks this stock is cheap at a P/E of 10. It may be a good company, but Interserve, for one, is in a similar market and far cheaper at P/E 8% and increasing profits. I know what my money will go into. Potential t/o is the only thing holding the SWG price up.|
|simon gordon: If we do head into a Global Recession/Depression then the services that SWG offer will find less demand in the future.
In buying SWG you have to have faith that we are going to have a V shaped recovery.
I think the market is starting to price in a U shaped recovery for SWG.
If it is L shaped, as I think probable, then there is much more downside to the SWG share price.
Guardian - 18/10/08:
The short, sharp shock - the V-shaped recession:
Gordon Brown's bank rescue plans work like magic. Interest rates are slashed to 3.5% by Christmas and after the festive season confidence returns to the banks and they start to lend again. Interest rates are slashed further, to 2.5% by the summer. House price stabilise as buyers come back and consumer and business confidence turns up.
Companies report lower profits, but there are not big collapses. Commodity prices stabilise. Oil goes to $60 and stays there, helping bring inflation down to 2%. A few emerging-market economies have similar wobbles to Iceland but get assistance from the International Monetary Fund. The global economy is helped by only a mild slowdown in China and unemployment in India peaks at 2.5 million. The FTSE 100 is back over 5000 by next summer.
Five years of gloom - the U-shaped recession:
Banks remain reluctant to lend as a harsh new regulatory regime bites. Lenders focus on only the safest loans to the best risks. Interest rates are cut to 2.5% by the summer, but banks do not pass the lower rate on to borrowers in order to rebuild their profits and capital bases.
Some banks require further capital injections. Policymakers run out of ideas. Chinese economic growth slows, inflation remains and unemployment hits 3 million. The FTSE 100 is locked in the 3300-3800 range. Repossessions rise and properties lose 40% of their value. There are numerous company failures. The enterprise culture appears dead. But after five years, the first green shoots of recovery start to appear.
The double-dipper - the W-shaped recession:
It looks just like the short sharp shock, but Opec cuts production and there is a new drought in wheat-producing regions. At the same time pay demands take off and inflation re-emerges.
The Bank of England's monetary policy commmittee lifts interest rates. Consumers lose confidence and struggle to repay their debts. A new round of bank write-offs begins. Repossession rates and corporate failures climb again.
The lost decade - the L-shaped recession:
As witnessed after the Japanese banking crisis: today's inflation turns to next year's deflation. The banks remain reluctant to lend and consumers struggle to repay their loans. Bad debts mount, house prices fall 40% after a sharp drop and then a sustained drift. Corporate failures are at a record rate and unemployment reaches 3.5 million.
House repossessions rise as borrowers lose their jobs. There are bank failures and a couple of insurance companies topple over. The US is also in deep recession and the Chinese economy faces a hard landing. The FTSE 100 index dips to 3000 - another 25% down on today's levels and more than 50% below its 2007 peak - and fails to recover.
A new war in the Middle East pushes oil prices into the stratosphere. Central banks have to raise interest rates to combat inflation. Most major economies tip into depression.
Banking systems in many countries collapse, leading to widespread chaos as people are unable to access their money or pay for anything. Riots ensue and long queues appear outside soup kitchens as governments put soldiers on the streets to maintain order. Unemployment exceeds the peak seen in the 1930s.
Overall world output falls for more than a decade. It's the worst depression the world has ever seen.|
Scott Wilson share price data is direct from the London Stock Exchange