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Umbro Share Discussion Threads
Showing 226 to 250 of 250 messages
|nice 7p in this with no risk agreed takeout price 1.9306
LONDON (Thomson Financial) - Sports Direct International PLC said it has
sold 29.07 mln shares in Umbro PLC to Nike Inc's unit Nike Vapor Ltd at 193.06
pence per share, or a total of 56.12 mln stg.
The company said it has entered into an irrevocable undertaking
with Nike to vote in favour of the scheme of arrangement relating to the
acquisition of Umbro by Nike at 193.06 per per Umbro share in respect of 14.61
mln shares. These shares are the balance of Sports Direct's stake in Umbro, it
|Umbro, the sportswear company, has seen its shares come under pressure on suggestions that a mooted takeover by Nike may not materialise.|
|Sportswear retailers, thought to include Sports Direct and JJB Sports, will square up to Nike with submissions to the Office of Fair Trading's investigation into the sportwear giant's acquisition of Umbro, due tomorrow|
|Has the deal fallen through?|
|IIRC he sold those on soon after for a quick profit
Can't remember if he (or SPD) bought back in again after that|
Very clever Ashley, when you own 3.5% of rival Addidas it seems reasonable to suggest that you would rather sell your 30% stake to them. Maybe in an all share offer that would increase your stake in Addidas.|
|Well, this PI got out this morning at 192 (xd today, btw). As I see it there are three scenarios:
Ashley uses his holding to get the terms he wants for supply to his stores and the bid goes ahead or Nike agree to leave Ashley as a minority shareholder. In that case it is not worth holding on for months for the extra penny.
Ashley blocks the bid and the share price collapses.
Ashley mounts a counterbid. As today's papers indicate, this is likely to run into problems with the F.A. However, it could provoke a higher offer from Nike even though commentators consider the original one a very good price, particularly with the gloomy short-term outlook. IMHO the potential reward here is less than the risk so I have got out.
To those staying in the hope of a higher bid - good luck!|
|No PI'S left lol|
Yet most City analysts were betting Mr Ashley would launch a full bid for Umbro. Andrew Wade, an analyst at Seymour Pierce, said: "You look at his history, and he has bought brands for what didn't look like the cheapest deals at the time. But he's been able to make them perform."
There was talk late in the day that JJB was also set to increase its holding in Umbro.|
Could this be a four way battle between, Sports direct, Nike, JJB and addidas.
Nike has $2billion in the balance sheet, low interest rates in America and a poor $ makes it plausible to suggest it wouldnt mind taking this over in a hostile bid in order for it to gain market share in a geographical area in which it has been struggeling.
JJB and Sports Direct are more likely to negotiate binding contract agreements that continue to supply the two businesses with unitary cost goods.
Plus a premium price to the 195p paid by Sports Direct today.
If this takeover is blocked investors can still take confidence in the 195p paid by SD.|
You certainly can`t lose much.However, I think a bid from Aahley is unlikely.Today`s action could just be the blocking stake being removed at a slight premium.On arisk/ reward basis though you`ve got agood trade.|
|Have just bought this share at 194p for a number of reasons.
Minimum price over next 2 weeks, 193p (takeover price).
Possible rumours of rival bid. HIGH
Interest rate cut in USA causing stockmarket gains. LOOKING VERY POSSIBLE
Ashley being a clever wealthy billionaire may decide to launch a counter bid, if nike have an interest in this company it must be worth something.
A move upwards to 198p as seen today or 200p on further press rumours as you can see is promising, never grumble at a small profit.|
leeds kits are selliing well and brands have real potential and has cash in the bank very very cheap|
|Gotta be JJB or SPD.|
|check out ibl|
|'O' trades 41,42,50,51 all went through at 195p|
|How do you know 30m was bought???? Thats 25% of the company?????|
|Over 30m bought earlier at £1.95...maybe counter bid on the way ?|
|whats happening with this now????
just for the record if it does get taken over how do the share holders get paid and when?
i bought some through self trade|
|This is on the "the appointment website daily news update">
Does this still require a shareholder vote?
Or is that it done and dusted?
If so not much to be gained now unless in earlier
Nike agrees £285 million deal for Umbro
Nike has agreed to buy Umbro in a £285 million deal in which shareholders will receive 193.06 pence per share. The announcement follows speculation that a bid would be forthcoming after Umbro said that it had received an approach last week. Recent sales of replica England kits have been poor for Umbro, but Nike said that it intended to apply its own considerable resources in "financial strength, product, operations and development capabilities, global supply chain and distribution resources and sports marketing relationships" to accelerate Umbro's existing growth strategy. The company added that Umbro would operate as an independent, UK headquartered Nike affiliate.
Mark Parker, president and CEO of Nike, said: "Umbro is a brand with a powerful heritage and deep experience in the world's most popular sport and the world's biggest football market. With its close links to The Football Association and the England team, Umbro's future is even stronger than its past".
Steve Makin, CEO of Umbro, added: "We will be a stronger and better business as part of Nike and this deal will allow us to accelerate our existing growth strategy by leveraging Nike's global resources and expertise. We look forward to taking Umbro to new levels with Nike's support".|
|In case anyone hasn't noticed this is being done as a scheme of arrangement. That means they need a 75% vote and then it is binding on all.
That also means that Sports Direct and JJB are able to block it. Hmmm.|
|iko i think if that offer is firm there wont be much of a rise as it wont be worth it to people. on the other hand if jjb still want it then there could be a slight bidding war.|
|iko dont know mate
i bought some more this morning so will they be included in the buy out?|
|offer is at 193 so will this rise above or not?|