||EPS - Basic
||Market Cap (m)
|Oil Equipment Services & Distribution
Wellstream Share Discussion Threads
Showing 2426 to 2448 of 2450 messages
|Extension of the Offer
The Offer, which remains subject to the terms and conditions set out in the Offer Document, is being extended to, and will remain open for acceptance until, the next closing date which will be 1:00 p.m. (London time) on 3 February 2011.
anyone still holding these?|
|any ideas whether HMY might be a target for after WSM? A bit of a long shot but recently won a contract for pumps for ships working for oil and gas industry in Brazil.|
H2 2010 has seen some improvement in key lead indicators and general market activity. This bodes well for continued strength in our Brazil operations and for recovery in activity levels outside Brazil. Longer term, the fundamentals of the sector remain positive with the industry continuing to favour floating production and subsea systems as the most economic development solution for many offshore discoveries.
Following the General Electric Company recommended cash offer for the entire share capital of Wellstream plc on 13 December 2010 offer documents were posted by General Electric Company on 20 December 2010. These are available at www.wellstream.com.|
|What's happened to Oilwell Varcos intrest?|
|What was the spike up to 820p caused by?|
|somethings brewing - glad i'm still holding|
|closing auction 790.....|
|shorts closing methinks|
|large buys or short closing ?|
|so the mkt got the price about right back in sept|
|some large buys going through
many multiples of 5000|
|I'm not sticking around to find out
|GE agrees £800m Wellstream deal
By Sylvia Pfeifer, Energy Editor
December 13 2010
General Electric has agreed to buy Wellstream, the UK oil and gas services group, for approximately £800m as part of an aggressive expansion into energy services.
GE, which has twice been rebuffed by Wellstream, confirmed on Monday it will pay 786p a share, including a special 6p a share dividend, for the UK group.
GE increases dividend in bullish stance - Dec-10.General Electric bullish on finance arm - Dec-08.GE's £755m bid for Wellstream is turned down - Oct-06.GE emerges as mystery bidder for Wellstream - Oct-04.Wellstream soars on bid approaches - Sep-21
GE's previous offer of 750p, valuing Wellstream at £755m, had been rejected as too low by the board of the UK company. GE confirmed it had made that offer in October and said it was "disappointed' it had been rejected.
The agreed deal will end months of pursuit by GE of Wellstream which announced in September it had been the subject of several bid approaches. National Oilwell Varco was among GE's rival suitors.
The offer price represents a 29.1 per cent to Wellstream's closing share price of 609p on September 20, the last business day prior to the UK group's announcement that it had received a number of preliminary approaches.
The price also represents a premium of 53 per cent to Wellstream's average closing price of 514p over the three months to September 20 and is 5.2 per cent above Friday's closing price of 747p.
Wellstream has manufacturing bases in the UK and Brazil and is one of the world's largest suppliers of flexible pipes for the oil and gas sector. One of its main attractions to potential bidders is its exposure to Brazil, which is investing heavily in exploration. Petrobras, the Brazilian energy group, accounts for a substantial part of Wellstream's income.
For GE, the deal will mark its second substantial acquisition in the energy sector in two months and will bring together two former sister companies. Wellstream was owned by Dresser 15 years ago. The Texan maker of gas engines for the energy sector, was bought by GE in October for $3bn. The two are seen as complementary.
John Krenicki, president of GE Energy, said at the time that the Dresser deal was just the latest in a series of acquisitions in the sector. As a result of the purchases, the US conglomerate has doubled its energy revenues in the past five years to about $30.2bn in 2009.
Energy is GE's largest industrial unit and analysts expect it to generate about $31bn of revenues in 2010. Its performance has been sluggish of late as power companies have delayed ordering equipment.
Jeff Immelt, GE's chief executive, has identified infrastructure products as an area to focus on as it scales down its financial services arm and returns to its industrial roots.
GE's share price has failed to follow the recovery in the S&P 500 since the financial crisis. Mr Immelt said GE would increase its quarterly dividend by 17 per cent to 14 cents a share, last week. Shares in GE closed on Friday at $17.72 in New York.|
|lets hope so - nice little xmas earner!|
will there be a counter bidder ?|
|New bid , just shy of £8, apparently|
|Will it be January before we hear anything?|
|volume up last 3 days
how high will GE go ?|
|thanks asif , the possibility of a contested bid is interesting.
|Original RNS confirming 'receipt of bid approaches that might/might not...' issued by the Board on 21st September..since then ....!!!!
Aren't there Takeover Panel Rules ref timescales ? Such a situation materially affects the share price and as such surely needs to be regulated?
Am I misinformed ?|
|Are we going to get a bid?|
|IMS v short
Obviously v busy with other things!|