Abbey Nat. Share Discussion Threads

[corpbull] 27/7/2004 11:41

dvda
My view that it is too cheap to sell up. They should invite or wait for the highest bidder. 6.50 or even higher, at least will be a reasonable price. The board should not accept the first bidder that comes along. Look at SFW, and others, patience will do us good. Not irrational decisions!!! they should learn from their first mistake, being irrational to turn down a higher offer only to accept a lower one now!!! What does that tell you of the BOARD. PRIMA DONNAS!!!

[broadwood] 27/7/2004 11:25

a77 - On the contrary, the Abbey share price is trading above the value of the bid indicating the Market is building in a higher bid possibility.

You'd expect this.

[a77] 27/7/2004 10:28

I see the smart money has started selling - so they obviously don't think another bidder is likely to emerge.

[whipround] 27/7/2004 09:56

Yep sounds about right. I would love another bidder to come in, but who would bid for this? I bought in at this level, I am not pro or anti the bid per se and agree that the management should be allowed to carry on the job they were installed to do, rather than sell out to line their pockets.

[fauxpas] 27/7/2004 09:38

Whipround – I don't know why you seem to want to sell the SHC bid, this is a market and no sane person does anything other than push as hard as they can. No CEO "needs" £1M in comparison to £200k, its just the law of the jungle. If you hold shares in a company and somebody offers to buy them they should stagger away from the deal wondering if they really have done the right thing. I don't believe in reasonable deals, they are for fools – a "reasonable" deal is where a looser gets what they deserve.

[whipround] 27/7/2004 09:28

I wasn't suggesting it was the best ever deal, but when the company has lost £1.6bn over the last couple of years and the price has dropped to £4.20 prior to rumours, then £5.80 is not so bad. I do feel for the people who may have bought at £14.00, but that's the market for you. If you don't like it, don't buy shares - stick to gardening.

[broadwood] 27/7/2004 09:17

Two years ago nobody knew they were going to make hundreds of millions of losses which nearly bankrupted the Company.

My understanding is that at the EGM three quarters of the votes cast need to be in favour of the resolution.There will be no doubt that this will comfortably be waived through.

Anyone who feels the deal is unattractive has a perfectly easy remedy- sell in the market today.

But you could just miss out on a counter bid.

[corpbull] 27/7/2004 08:38

Whipround
Any decent person even a student will say it is NO to SCH. It is a bad offer and the board are stupid to even recommend it. If they can recommend it, it shows how well they knows their job or performing in their duties. Two years ago the board turn down a higher offer, so shareholders are not greedy, they want what is worth. So it is a PLAIN NO!!!

[the knowing] 27/7/2004 08:28

HBOS results tomorrow.

Could lift the sector.

[whipround] 27/7/2004 08:26

Can't see what the problem with the SCH bid is you greedy people. I'm sure you would have taken £5.80 when the price was £4.20

[dm1] 27/7/2004 08:07

I'd be most suprised if we don't see another bidder by the end of the week.

[the knowing] 27/7/2004 08:00

I suppose the only downside here is how long your money is going to be tied up.

[dogdig] 27/7/2004 07:58

3 years ago £14 - now £5.34 per share - I'm not selling on these terms!
Here's hoping that the small shareholders tell the Board what to do with their recommended deal - and that the Institutions do likewise!!

No sale!!!

[kaibutsu] 27/7/2004 07:55

I notice that Brandes have 8.7% o0f the company. Anyone know roughly what timeframe they started buying in?

[mclellan] 27/7/2004 07:33

On the move again!

[dm1] 27/7/2004 07:32

Any day, keep watching.

[demandred] 27/7/2004 07:29

How long would, if any, a counter bid take to come to the fore. Surely any further serious bidder would have done all the work already and would make their intentions known. No ? Yes?

[dm1] 27/7/2004 05:46

For those who want to keep an eye on the Spanish Bank's shareprice:



Expecting an uptick today. DM1

[corpbull] 26/7/2004 20:18

Thanks Guys! I hope for all our sake, a bidder will come in. Last week, NRK was talking about bidding for a big guy, can ANL will be one of the potential bidders. IMO, at this moment in time, the more the merrier, for the sake of shares holders especially those who bought them at between 7.00 and 13.00.

I hope common sense will prevail and shareholders will block the deal. I know I will be.

[bigface] 26/7/2004 18:37

Interesting that the competition authorities appear to be more interested in dubious competition issues than prerserving a British company from a European CEO selling to his European chums for peanuts.

This is an utter disgrace and I fully expect the US to help us out here.

[gemlotte] 26/7/2004 18:03

they will block this bid, add another pound imo.. usa will bid all imo