Alliance & Leicester Share Discussion Threads

[stallone10] 14/7/2008 21:30

why is the price 335 when the takeove rorice is 319?

[9999donkey] 14/7/2008 21:22

E



OR.

[9999donkey] 14/7/2008 21:22

E.


OOOOOOOOOOOOOOOOOOOOOOR!

[diku] 14/7/2008 21:21

I am a bit surprised that just over 10% of the shares changed hands despite the news and the rise...

[psps] 14/7/2008 21:00

what a bloody rip off this is.
For the price of a few oranges from Spain they buy a UK bank.
Sack the directors.
shareholders have always got shafted in UK

[csmwssk1] 14/7/2008 20:58

well they wont stick around now, the only bank with some real future value has been stolen, well done to those who bought below £3, (cant be many) commiserations to all the poor sods who now have no chance of getting their original investment back.

[anglia] 14/7/2008 20:26

LONDON (Thomson Financial) - Shares in Alliance & Leicester Plc. surged on Monday ................

The deal is subject to the approval of 75 percent of Alliance & Leicester
shareholders. Santander is being advised by Merrill Lynch, while A&L has hired
JPMorgan Cazenove, Morgan Stanley and Rothschild.

[jimrclark] 14/7/2008 20:08

£3.17 is way too low. A quarter of it's peak price.

The fact that the share price is above this suggests that the City thinks that its too low as well.

Th A&L board have panicked in my view.

[sbs] 14/7/2008 20:07

Shareholders can always reject the offer. But institutions paying up for HBOS and BB. might welcome some extra cash.

[diku] 14/7/2008 20:00

well the management didn't even put the 1200p offer to the shareholders over a year ago...instead they made the mind up for them...now they have also made the mind up for a much lower price...now that is a democratic world!!!...

[selborne_edge] 14/7/2008 19:55

Am I missing something ! Surely the A & L shareholders will need to vote and accept this very silly proposal. It seems incredible that an offer of 299 pence per share would be accepted.

[labradortrough] 14/7/2008 19:49

So the Kondratieff winter claims another victim.

[diku] 14/7/2008 19:22

if it's given away to the first person that comes along...that would come across as a desperate seller...strange how news have not been leaked over the w/end...I think the deal was probably arranged late last night in conjuction with the FSA hand...

[crazi] 14/7/2008 19:02

317p a share is way too cheap! Reject the offer I say and get a bidding war going.

[crazi] 14/7/2008 19:02

317p a share is way too cheap!

[loganair] 14/7/2008 18:11

zipper - imo a bid for B&B at a share price of 100p so the big institution make nearly 100% profit on backing B&B's RI @ 55p.

I only wish the FSA would let us small share holders know what's going on. We take all the loses so the big boys can benefit.

[zipper] 14/7/2008 18:07

banks have had their arms twisted to support BB. this never works!
unless banks have been promised a 'sweetner'

[loganair] 14/7/2008 18:04

The £1.26bn takeover of Alliance & Leicester by Spanish giant Santander will delight many in the City - none more so than Hector Sants. This is just the sort of deal the chief executive of the Financial Services Authority wants to see as British banks struggle through the credit crunch, even if it looks like a fire-sale price.

Having watched Northern Rock collapse and Royal Bank of Scotland HBOS and Bradford & Bingley turn to shareholders for funds, Sants and others at the City watchdog have been desperate to avert another disaster. The FSA was given a kicking for allowing the Northern Rock debacle to take place at all.

Not only did A&L shares jump on the news, but so too did those in Bradford & Bingley, pushing them up towards the 55p its £400m rights issue is priced at. One analyst last week claimed B&B shares were 'worthless'. There is growing hope now that this is not the case.

[zipper] 14/7/2008 17:30

'At the very least, there should be a process of inviting interested parties to make bids, not just roll over and give it all to the first person who makes an offer.'
========================================================



anyone could bid - they don't need to be invited!
if no other bids - no-one else wants it

[gregory0106] 14/7/2008 17:23

If this deal is allowed to go through when there has been no invitation to bid - just a cosey chat amoungst the directors then there is no UK comoany that is safe from being given away.

At the very least, there should be a process of inviting interested parties to make bids, not just roll over and give it all to the first person who makes an offer.

I genuinly fear this is just another example of UK assets being stripped out to off-shore based interestes - we already have no UK owned energy suppliers and will soon see another chunk of our financial sector be non-uk owned - this is not a good position for any country to be in - we are effectively being taken over without the bloodshed of a traditonal war (maybe just as well as we have preciouse little militry with which to fight a war in any case)

The sooner Brown and his jock mates are out of No10 the better off this country and all of us will be.

[loganair] 14/7/2008 17:06

Standard Life Investments (SLI) has expressed its disapproval of Banco Santander's agreed £1.3 billion bid for A&L as shareholder opposition to the deal mounts.

SLI, which has a 2.35% interest in the mortgage lender, said the price, which it described as a 'giveaway' bid, was too low and it would not be surprised a rival bank stepped in with an improved offer.

SLI head of UK equities, David Cumming, said: 'This is a gorgeous deal for Banco Santander. They are acquiring Alliance & Leicester on giveaway terms.'

Standard Life's comments follow those from fellow A&L shareholder James Henderson, a fund manager at Henderson Global Investors, who said the deal did not take into account A&L's market position, the company's name, or future earnings considerations.

[turbotrader2] 14/7/2008 17:00

but having said that, makes other banks more solid such as LLOY

[turbotrader2] 14/7/2008 17:00

shocking is this!!!

[loganair] 14/7/2008 16:49

Dope007 - Just to let you know, when I did have a mortgage it was always my priority to pay it off as quickly as I could rather than to spend, spend, spend and therefore paid off my 25 years mortgage in only 10 years.