Tdg Share Discussion Threads

[psolomons] 17/6/2008 11:51

appalling behaviour if they are a stalking horse. their rns was pretty conclusive having carried out due diligence.

[rbcrbc] 17/6/2008 10:39

I still think laxey were just a stalking horse.

Still as long as they keep paying a good divi, I'm not too bothered. I still see TDG as very good long term potential.

[psolomons] 17/6/2008 08:44

we will have to see what Laxey say then, before friday.

[onlyonestorm] 17/6/2008 07:53

MMMMMMMMM


Wincanton says will not proceed with offer for TDG




LONDON (Thomson Financial) - Wincanton Plc. said it will not proceed with
its offer for TDG Plc. as it does not believe it is not in the best interests of
its shareholders.
The company had made an indicative cash offer of 281.25 pence per share for
fellow logistics company TDG on May 9, trumping a rival approach from offshore
investment group Laxey Partners.
The offer -- less the dividend of 8.75 pence -- was at a premium of about 30
percent to TDG's closing share price on Feb 26, the day before Laxey made its
offer.

[psolomons] 12/6/2008 00:16

Ive just read the RNS's since Feb relating to the possible take over. There are a couple of mentions of the bid being lowered on agreement with the board of TDG. What board of directors in their right minds would agree to lowering the bid if they have any consideration for shareholder value. It seems an amazing thing to publish. 8 days to go til we get clarity.

[psolomons] 13/5/2008 05:52

Looks like TDG is well run but has much greater potential. They turn over more than £ 500m, they have over 7000 staff and make a measly £15m profit. They really should be making more money and who ever takes them over will no doubt look at staff numbers.

[coogar] 11/5/2008 23:41

Well they obviously want it or they wouldn't have purchased almost a quarter of it already and be about to make an offer for the remainder!

Whether they know what to do with it once they've got it is an entirely different matter.

[rbcrbc] 10/5/2008 19:32

Except laxey are an activist investor not a transport company - They dont really want it. We need a third bidder.

[coogar] 10/5/2008 18:51

The press today seems to think the laxey partners offer may be as good as a done deal, as they already hold 22% :(

[rbcrbc] 09/5/2008 12:38

So they did flush out one other bidder, hopefully there are a few more....

[deadly] 09/5/2008 12:21

Well bid confirmed (almost)- was a nobrainer really. Question is whether it will bring out any others from the woodwork.

edit - seems I was prescient or just too slow to read the RNS. This looks like it could be a tasty bidding war. Shame I don't have more of them.

[zipper] 09/5/2008 12:20

looks like you were right kirk3!

[rbcrbc] 09/4/2008 17:56

Kirk - I am begining to smell the hops.

[rbcrbc] 15/3/2008 14:26

Where are they hiding these assest that would make it worth a breakup ?

SP = 246p NAV = 211p


Balance sheet

We retain a strong balance sheet with a conservative gearing. Net assets
increased by 9.5% during the year to £171.0m, representing 211p per share,
compared to 165p at December 2005 and 193p at December 2006. This was due in
part to retained earnings and a positive movement in exchange, but also due to a
£12.5m improvement during 2007 in the Group's pension position net of deferred
tax, as discussed below.

[kirk3] 15/3/2008 13:04

my bet - asset strip. tdg has a lot of real estate

[rbcrbc] 14/3/2008 21:21

But they aren't a transport company - what would they do with it ?

Bet you a virtual pint we hear nothing more

[kirk3] 14/3/2008 19:01

have to disagree - Laxey already hold 22% of this company, which means they've done a lot of research and are probably doing their due diligence as we speak.
bet you a pint they follow up with a firm bid - at good price! ;-)

[rbcrbc] 07/3/2008 21:26

I am not convinced that Laxey actually wants to buy TDG, I suspect that they may just be trying to flush out a buyer....






Welcome

Laxey Partners Limited (LPL) is a globally active value investor.

Investment philosophy

LPL conducts investments in companies which it feels are undervalued. Having researched these companies in great detail, LPL encourages and supports these companies to fulfill their potential and hence enhance shareholder value. LPL has a strong track record in this respect and its associates have substantial international expertise in focusing on the delivery of shareholder value.

LPL operates as a "hedge fund". Its investment universe can broadly be split into three areas of which the first two are core:

European value investments in quoted operating companies
Global discount arbitrage strategies
General global special and arbitrage situations

[kirk3] 07/3/2008 19:21

hello all,
anyone know why these are currently discounted to the 275p offer?? - especially since the ex-div date is in just 6 weeks and so laxey may want to get it done before then.
is this a good time to pick some more up while they're cheap??

[bryan2] 27/2/2008 16:58

Have a look at the final results published today very impressive given the rise in fuel price.
Gearing at 12% is exceptionally low for a capital intensive industry.
I'm in no rush to sell at 275p I expect higher offers to come in.

[bryan2] 27/2/2008 09:07

Hold Tight

The offer from Laxley is not overgenerous.
There might be other bids from Wincanton or the French group that recently bought out Salveson

[horsemike] 25/2/2008 18:04

Miss W

This is going up ahead of the results on Wednesday (27/2)as the hope is that these will be ahead of expectations. Additionally, on the 18/2 they were recommended by Ian Lyall in the Daily Mail at a price of 2.08. For value investors they also have a yield of 6.5.

I doubt very much that there is any bid froth in the price rise.

I have held these for some time and am waiting for the results before I add to my holding.

[miss womble] 25/2/2008 13:13

What is going on here? Is there a bid and should we be incresing our holding? Happy investing

[dancing piranha] 21/1/2008 18:02

How much further to drop I wonder?

[sruk77] 02/12/2007 22:49

Midas share tips: Specialist haulier TDG

2 December 2007

TDG transports everything from paint to petrol and from Bailey's Irish Cream to vacuum cleaners. The company has 1,200 lorries and works for a wide range of businesses, including Tesco, ICI and drinks giant Diageo:



TDG used to be known as Transport Development Group and was a combination of lots of different haulage and storage businesses, all of which worked independently, often in competition with each other. But the company has been rationalised and restructured to become a single entity, operating primarily in Britain and on the Continent.
The transportation industry is highly competitive and many of the key players have joined up to create huge outfits capable of shifting masses of goods around the world. TDG is not like that and it does not want to be.

Chief executive David Garman is keen instead to focus on specialist areas that require greater expertise and are a lot more profitable than the basic movement of goods.

The company is building a presence in four sectors --chemicals and hazardous products, temperaturecontrolled distribution, paper and packaging, and transcontinental transportation.

The first three require particular types of lorries and the last one also demands advanced logistical skills. The markets in all four areas are growing and there is a particular need for companies with the ability to transport goods from Asia and the Middle East to Europe.

TDG is actively looking for partners to help expand its presence in these regions, but it already works with Sainsbury's and Morrisons, who import goods from China.

Shares in TDG have fallen since the summer on fears that any downturn in consumer confidence will mean fewer products to transport. TDG is less exposed to this than many peers, however, as it focuses on industrial areas such as chemicals that should be less affected by the economic cycle.

Garman has a clear view of what he wants to create - an international distribution business that is big enough to do what customers want but small enough to be nimble.

•• Midas verdict: TDG shares trade at 209p and the dividend yield is nearly seven per cent. Brokers believe the shares are substantially undervalued. Buy.