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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Berendsen | LSE:BRSN | London | Ordinary Share | GB00B0F99717 | ORD 30P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
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|---|---|---|---|---|---|
| 0.00 | 0.00% | 1,268.00 | 0.00 | 01:00:00 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 1,267.00 | 1,268.00 | ||||
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| - |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| - | O | 0 | 1,268.00 | GBX |
Berendsen (BRSN) Share Charts1 Year Berendsen Chart |
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1 Month Berendsen Chart |
Intraday Berendsen Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 11/9/2017 | 15:11 | Berendsen plc_European textile services group | 342 |
| 11/3/2017 | 08:39 | BRSN Broker Ratings - STRONG BUY | 2 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
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| Top Posts |
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Posted at 20/7/2017 11:11 by meson Presumably with BRSN's current price of £12.72, a premium of 22p, the price of Elis shares must be rising. Maybe it's worth hanging-in? |
Posted at 08/6/2017 07:01 by grupo Elis raises € 2.2bn on Berendsen, who accepts itAnthony Bondain, published on 08/06/2017 at 06h31 Elis raises € 2.2bn on Berendsen, who accepts it Photo credit © Elis (Boursier.com) - Elis's demonstration of strength has borne fruit. The British group Berendsen agreed to return to the negotiating table after the French had announced a hostile takeover bid, failing to get along with the management of his counterpart. An agreement in principle was finally signed yesterday, which defines the outlines of a project of rapprochement supported by the two directorates. Technically, the deal would take the form of a "Scheme of Arrangement" under English law, based on a Berendsen valuation of 2.2 billion pounds (about 2.5 billion euros). This corresponds to a price of £ 12.50 per share. In the hostile proposal, valuation was £ 2.05 billion, or £ 11.73 per share. The British has obtained some concessions in exchange for the support of its board of directors, in particular an increased share in cash and the possibility of receiving an interim dividend of £ 0.11, which is not included in the aforementioned price. Elis proposes the remission of £ 5.40 in cash for each Berendsen share and 0.403 new Elis shares (43% in cash and 57% in Elis shares). The overall valuation per share is calculated on the basis of the closing price of Elis of 20.17 euros on 6 June 2017 and an exchange rate of 1 pound sterling for 1.145 euro. The offer represents a premium of approximately 45% on the last price before the initial announcement of Elis and 54% on the weighted average price over three months. Elis plans to propose a "mix and match" option, which allows, subject to the availability resulting from the choices exercised by the other shareholders, to vary the proportions of new shares Elis and cash. The boards of the two companies expect to unanimously recommend the transaction once the required conditions have been met. The Canada Pension Plan Investment Board, which owns 5% of Elis' capital, has committed to subscribe to a reserved capital increase that will help the company pay the cash portion. It will cover 10.13 million new shares at 19.74 euros each, representing a product of approximately 200 million euros. The transaction must create a major European actor in hygiene and maintenance services. |
Posted at 07/6/2017 20:29 by waldron After two unsuccessful attempts at rapprochement, the industrial laundry group Elis (ELIS.FR) signed an agreement to buy its British competitor Berendsen (BRSN.LN) for about 2.2 Billion pounds sterling (2.53 billion euros).The previous offer of French, made public on 18 May and rejected by the Berendsen directors, valued the latter to the tune of 2.05 billion pounds. The Boards of Directors of Elis and Berendsen announced on Wednesday that they had reached an agreement in principle for a reconciliation that would involve the launch of a takeover bid in cash and shares. Elis plans to offer 5.40 pounds sterling in cash and 0.403 shares for each share of its competitor. The shareholders of Berndsen will also receive a dividend of 11 pence per share. Based on the closing price of Elis of € 20.17 on June 6 and a foreign exchange rate of € 1.145 per pound, the proposed takeover offers Berendsen at 12.50 pounds per share excluding interim dividend , Or a total capitalization of 2.2 billion pounds, the French group said in a statement. The previous offer from Elis was 11.75 pounds per share. The board of directors of the British group said it planned to unanimously recommend the new offer, which represents a 45% premium on the closing price of the Berendsen share on 17 May. The Canada Pension Plan Investment Board, or CPPIB, which owns approximately 5% of Elis' capital, will subscribe to a capital increase reserved to participate in the financing of this transaction, the French group, Issue 10.13 million shares at a unit price of 19.74 euros, for a total of nearly 200 million euros. -Thomas Varela, Agefi-Dow Jones; +331 41 27 47 99; Tvarela@agefi.fr ed: ECH (END) Dow Jones Newswires June 07, 2017 13:32 ET (17:32 GMT) |
Posted at 24/5/2017 11:02 by sarkasm Alliance NewsTOP NEWS: Berendsen Eyes 2018 Earnings Growth, Repeats Elis Rejection Wed, 24th May 2017 10:12 LONDON (Alliance News) - Berendsen PLC shares eased back on Wednesday after the textile services firm reiterated its 2017 profit forecast and guided toward earnings growth in 2018, but also repeated its rejection of the takeover approach by French peer Elis SA. Berendsen shares were down 1.8% on Wednesday at 1,059.72 pence, but shares have retained the majority of the value gained since the offer was made by Elis last week, with shares currently 24% higher than the price of 863.50 pence at the close the day before the offer was announced. The laundry company reiterated its guidance on Wednesday that adjusted operating profit over this year is expected to be around GBP150 million, as it expects an annual drop from the GBP161 million adjusted operating profit reported in 2016. However, Berendsen on Wednesday added guidance that it is on track to return to earnings growth in 2018, forecasting adjusted operating profit of GBP170 million. Berendsen returned to the overhanging issue of the takeover offer made by Elis last week. Elis offered GBP2.05 billion for Berendsen with the aim of creating a pan-European textile and facility services giant - having already been rebuffed by the mid-cap firm twice before. Despite representing a massive premium to Berendsen's value at the time, the company rejected the proposal and said it does not see the basis for "any further discussions" with Elis. Berendsen said it believes that Elis is making an opportunistic attempt to acquire the company whilst it is implementing its investment programme, without reflecting the future value of the costs being incurred, adding it believes the value of the strategy should accrue fully to Berendsen shareholders alone. On Wednesday, Berendsen reiterated its belief that a combination with Elis is not of any interest to it, stating the offer "fundamentally fails" to reflect its full value, would create a business with "significantly higher leverage" than Berendsen would have alone, and create "increased risk" for shareholders. "Berendsen continues to see no basis for discussions with Elis," said the company. "The timing of Elis' approach is highly opportunistic in three ways, all to the detriment of Berendsen's shareholders." "Firstly, Elis' approach has been timed to take advantage of Berendsen's recently depressed share price and valuation," Berendsen said, pointing to the fact that, although the offer was at a huge premium at the time, its share price on May 18 was only around 63% of its highest share price during the preceding 12 months. "Secondly, a significant portion of the consideration payable to Berendsen's shareholders under Elis' proposal is in Elis shares; its approach has also been timed to take advantage of Elis' own share price," Berendsen added, stating Elis had a share price equal to 98% of its all-time high at the time of the offer. "Thirdly, the board believes that Berendsen is at a point of inflection and that selling Berendsen on the terms offered by Elis would deprive Berendsen's shareholders of the full benefit that will accrue from the delivery of its strategy," the company said. Chairman Iain Ferguson said he "firmly believes" that Berendsen has the right strategy, management team and capital structure to deliver significant value for Berendsen's shareholders over the medium-term as an independent company. By Joshua Warner; joshuawarner@allianc |
Posted at 24/5/2017 10:14 by grupo guitarlumber 24 May 2017NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN ANNOUNCEMENT OF A FIRM INTENTION TO UNDERTAKE ANY TRANSACTION WHETHER UNDER RULE 2.7 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE") OR OTHERWISE AND THERE CAN BE NO CERTAINTY THAT ANY TRANSACTION WILL PROCEED NOR AS TO THE TERMS ON WHICH ANYOFFER MIGHT BE MADE. THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR IMMEDIATE RELEASE 24 May 2017 Berendsen plc Statement regarding Elis' Possible Offer -- Board reconfirms 2017 forecast for adjusted operating profit(1) of approximately GBP150 million -- Board announces 2018 forecast for adjusted operating profit(1) of approximately GBP170 million -- Board continues to believe Elis' proposal very significantly undervalues Berendsen and its prospects -- Board believes the risks for Berendsen's shareholders arising from a combination with Elis are significantly higher than those for Berendsen as an independent company On 3 March 2017, the Board of Berendsen plc ("Berendsen" or the "Company") announced a profit forecast for the financial year ended 31 December 2017 stating that adjusted operating profit(1) for 2017 was expected to be approximately GBP150 million (the "2017 Profit Forecast"). The Board of Berendsen today reconfirms the 2017 Profit Forecast and expresses its confidence in its delivery. Furthermore, the Board of Berendsen today announces a forecast for adjusted operating profit(1) for the financial year ending 31 December 2018 of approximately GBP170 million (the "2018 Profit Forecast"). In relation to the announcement made by Elis SA ("Elis") on 18 May 2017 (the "Possible Offer"), the Board of Berendsen continues to believe that Elis' proposal very significantly undervalues Berendsen and its prospects. Berendsen continues to see no basis for discussions with Elis for the following reasons: 1. Elis' proposal fundamentally fails to reflect Berendsen's inherent value 2. Elis' approach is highly opportunistic 3. The combined business would have significantly higher leverage than Berendsen which would put at risk the delivery of Berendsen's strategy 4. A combination of Berendsen and Elis would significantly increase risks for Berendsen's shareholders Berendsen confirms that it will upload an investor presentation to its website at www.Berendsen.com. Please refer to the Appendix to this announcement for the Directors' confirmation with regard to, and further information on, the 2017 Profit Forecast and the 2018 Profit Forecast, including details of the assumptions on which they were made. As required by the Code, Berendsen confirms that this announcement has not been made with the agreement of Elis. Reasons for rejection of the Elis proposal 1. Elis' proposal fundamentally fails to reflect Berendsen's inherent value As previously stated, Berendsen is currently investing in its commercial and customer service capabilities and accelerating its capital investment in plant and machinery, improving the efficiency of existing plants and investing in plant conversions and new builds, with an expected investment of GBP450 million over three years, of which GBP300 million is growth capital investment. The GBP300 million of growth capital investment is expected to generate a pre-tax return on capital employed of at least 15%, equivalent to an adjusted operating profit(1) of GBP45 million. In addition, Berendsen sees further upside from stronger organic revenue growth. Implementation of the strategy is progressing in line with plan. This strategy has provided the Board with greater visibility and confidence in Berendsen's medium-term growth opportunities and represents a competitive and sustainable platform for future value creation. Berendsen has good momentum in the delivery of its clearly defined strategy, underpinning the Board's confidence in its medium-term targets. This is reflected in the Board today reconfirming the 2017 Profit Forecast of approximately GBP150 million and announcing the 2018 Profit Forecast of approximately GBP170 million. 2. Elis' approach is highly opportunistic The timing of Elis' approach is highly opportunistic in three ways, all to the detriment of Berendsen's shareholders. Firstly, Elis' approach has been timed to take advantage of Berendsen's recently depressed share price and valuation. As of the close on 17 May 2017, being the last business day prior to the announcement of the Possible Offer, Berendsen's share price of GBP8.64 was 63% of its highest share price during the preceding twelve months. Secondly, a significant portion of the consideration payable to Berendsen's shareholders under Elis' proposal is in Elis shares; its approach has also been timed to take advantage of Elis' own share price. As of 17 May 2017, being the last business day prior to the announcement of the Possible Offer, Elis' share price of EUR19.99 was 98% of its all-time high share price. As a result of the above two factors, as of 17 May 2017, being the last business day prior to the announcement of the Possible Offer, Berendsen's proportion of the combined market capitalisations of both Berendsen and Elis was 38.5%. This compares to the average proportion since Elis' IPO in February 2015 of 54.7%. Thirdly, the Board believes that Berendsen is at a point of inflection and that selling Berendsen on the terms offered by Elis would deprive Berendsen's shareholders of the full benefit that will accrue from the delivery of its strategy. 3. The combined business would have significantly higher leverage than Berendsen which would put at risk the delivery of Berendsen's strategy Elis' reported net debt / EBITDA as at 31 December 2016 was 3.4x(2) , significantly higher than Berendsen's reported net debt / EBITDA as at the same date of 1.2x(3) . The combined entity would have a pro forma net debt / EBITDA as at 31 December 2016 of 3.4x(4) . This leverage is significantly above Berendsen's and also above that of the average of relevant European Business Services peers(5) . Berendsen's strategy entails a capital investment programme of approximately GBP450 million over the course of this year and the next two years, of which approximately GBP300 million is growth investment capital with an anticipated pre-tax return of at least 15%. The Board of Berendsen believes that the ability to deliver this investment programme would be put at risk by a combination with Elis given Elis' materially higher leverage. Consequently, the expected benefit of this capital investment programme to Berendsen's shareholders would also be put at risk. 4. A combination of Berendsen and Elis would significantly increase risks for Berendsen's shareholders The Board of Berendsen firmly believes that the Possible Offer raises other significant risks for Berendsen shareholders as follows. Firstly, Elis has not previously acquired a business of the scale and complexity of Berendsen. Berendsen had GBP1.1 billion of revenues in 2016 in comparison to Lavebras, Elis' previous largest acquisition, which had 2016 revenues of GBP84 million(6) . Secondly, an integration of Berendsen and Elis would be highly complex given the two businesses operate across 28 geographies and have approximately 38,000 employees in total. This would be further complicated by the integration processes Elis needs to complete for its recently announced acquisitions in Spain and Brazil. Thirdly, integration risk would be heightened by the fundamentally different business models of the two companies, with Berendsen's operations segmented primarily by business line, and Elis' split primarily by geography. This is likely to cause complications and entail additional costs in the event of a combination of the two businesses where alignment of the distinct operating models would be required. Summary For the reasons set out above, the Berendsen Board continues to believe that the Possible Offer neither reflects the inherent value of Berendsen as an independent company, nor provides sufficient value to compensate Berendsen's shareholders for the risks inherent in the combination. Iain Ferguson, Chairman of Berendsen, said: "We are pleased to underline the Board's confidence in the strategy of Berendsen by reconfirming our 2017 Profit Forecast and announcing a 2018 Profit Forecast of approximately GBP170 million. The Board firmly believes that Berendsen has the right strategy, management team and capital structure to deliver significant value for Berendsen's shareholders over the medium-term as an independent company." |
Posted at 18/5/2017 23:20 by kazoom IMHO - that is an awful powerpoint to post on a website; it might be something that you could talk to in a room, but really to just post that on-line. Very poor.As I mentioned earlier I took the "snap" decision to sell out my small position today. At the time I was really only thinking about the dynamics of the bid, but when I think back to my decision to invest a couple of months ago I was really thinking in terms of exiting sometime in the next couple of years at maybe £12ish including dividends, so against this backdrop I don't find the £11.73 offered to be to bad at all. (I took 10.72 from the market). I don't have the "history" with this stock nor with the directors, so I will no doubt offend some people, but I always find these bid situations interesting. Some observations : > The bid is at a 36% premium to the market price. > The directors consider that it "very seriously undervalues" the company. So in context. Ellis are prepared to pay £11.73 / share for the company. Everyone else (ie the market) values the co at £8.63 (Weds close) - ie 27% lower. If the Ellis offer is too low to even make it worth talking about then presumably the directors must consider value to be at least 10% greater (probably much more). c. £13 So questions for the Directors. > How have you been so poor at communicating the obvious value in the co. that we have seen it valued at around 55% of the "true" value over the last few weeks? > Given that the company has been trading at near to 1/2 it's true value, why have you not been on a buying frenzy? (I know that if I were in a position of power and genuine knowledge over such an undervalued enterprise I would be mortgaging my mistress in order to buy as many shares as possible. I don't know how investors feel about this deal. If you think it is too low, it is always a paradox. > The shareprice has gone up 20%(25% earlier today) on the suggestion of the bid. > If you take the additional 10% or so on offer for the bid - you will be disappointed to lose out on however much more you think it is worth. > But if the bid fails the price will no doubt lose all of the gains it made today and you'll have to put your faith in the directors that they can deliver on all of their promises - and convince the market sufficiently to cause the price raise. You might guess that I'm tending to think the bid is a good thing (but the points above stand whatever I think). The two stand outs for me are : 1 - The synergies predicted by Ellis (& not address at all by the directors I thib) make a lot of sense, given the complementary geographies. 2- The response from the Directors seems to me more about job preservation than it does about delivering the best outcome for the owners (AKA shareholders). From my point of view it looks as though the shareholders would be best placed to accept the offer. From a purely personal point of view a rejection would be great as it will create the opportunity to buy back in at a lower price. All IMHO etc. etc. Glad to be out, watching with interest. |
Posted at 18/5/2017 09:37 by kazoom HmElis SA proposes a combination with Berendsen plc Part cash / part shares - valued at £11.73 Berendsen's response : The Board of Berendsen unanimously concluded that the Revised Proposal very significantly undervalues Berendsen and its prospects. Berendsen does not see the basis for any further discussions with Elis. Shares up c. 25% to 10.75 (c. 8.5% below the proposed price) Unless the shareholders rebel it looks unlikely there will be a deal at this price. Having a first offer at 11.00 rejected Elis only increased the offer by about 6%. So it seems unlikely to me that there will be a deal - so which way will the share price go from here? (Answers on a postcard please!) |
Posted at 01/4/2017 08:36 by mattcookson Turnaround potentialBerendsen’s (LSE: BRSN) share price has slumped by almost 10% since the company warned about the cost of legacy issues from its UK textiles businesses earlier this month. As a result of increased levels of machine downtime, and bottle necks caused by inefficient machinery relating to its UK operations, adjusted operating profit for 2017 is expected to be approximately £150m, down from £161m in 2016. However, looking forward, I’m optimistic about its longer term growth prospects despite recent setbacks. Revenue continues to grow as Berendsen continues to expand into new markets, and the company has a turnaround plan for its lagging UK business — it intends to invest some £450m in improving its operational efficiency. The company has a strong track record in delivering earnings growth, with a five-year compound annual growth rate (CAGR) in earnings per share of over 13.2%. At a current price of 842p, its shares trade at 12.9 times its consensus forecast for full-year earnings per share of 65.1p. That’s a big discount to the sector average of 17.2 times, and seems unfair given its turnaround potential and above-average dividend yield. Shares in Berendsen yield 4.0%, with a dividend payout ratio of 52%. Read full article here: |
Posted at 25/3/2017 18:29 by cjones123 Well each to their own I suppose. I am a long term investor and actually picked up a few more BRSN shares at a bargain price on Friday and will add a few more next week when some of my divi payments come through. As far as drop after ex divi is concerned, it always bounce back up to the levels before ex divi in couple of weeks time, so no issues there at all. I personally love shares that pay good divi and BRSN is definitely one of them. Given the chairman's hefty purchase of 25000 shares on Friday. This will open UP on Monday and head north switfy. Sure share price will be volatile for a few days but watch the space, BRSN will be trading over 900 in few weeks time :). |
Posted at 25/3/2017 16:45 by cjones123 Are you reffering to the results announcement below?? It really depends on how you interpret the results. Profits and revenue both rose year on year and divi was also increased by 5%.BRSN share price has been hit by market manipulation + overreaction = unexpected/senseless drop over the last couple of days. This is still a profitable and expanding business which is paying good divi, hence it rose very quickly back up to 860 level after the post result panic selling. Great BUY in my book, snap it on the cheap while you can :). -------------------- Commercial laundry company Berendsen posted a rise in full-year profit and revenue but sounded a more cautious note on its outlook as it said it will continue to be affected by legacy issues. For the year to the end of December, adjusted pre-tax profit increased 4% to £140.6m on revenue of £1.11bn, up 2% on the previous year. Statutory pre-tax profit rose to £120.3m from £113.4m as revenue grew to £1.11bn from £1.02bn. Meanwhile, the dividend per share was lifted 5% to 33p. |
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