Biffa Share Discussion Threads

[holts] 08/2/2008 09:00

with others having done their due diligence work it may encourage others , even in these difficult credit markets.

[peterz] 08/2/2008 08:26

Apparently twp? possible counter bids -

[mitzis] 08/2/2008 08:20

I am waiting.

[wad collector] 08/2/2008 08:18

363 sounds good to me (curious that over 350 -already ex-div and hard to see any counter bid in this situation.)Looks no upside to me at all - I'm OUTAHERE!

[mitzis] 08/2/2008 08:08

Done deal....

[mitzis] 08/2/2008 06:52

Ihe Independent has a few details..

[dov] 07/2/2008 23:57

the bid is 1.2bn(350p) plus 300 m in debt

[ideal420] 07/2/2008 23:43

Also, if the company is valued at 1.5bln according to post 1878, isn't that an share price around 420p?

[ideal420] 07/2/2008 23:40

Frankly, I've lost so much elsewhere that I don't mind if this takes a while. But given the interest and the issues the UK has over waste management, I would expect biffa to be fought over a little first, it just requires the first official offer to be made.

[mitzis] 07/2/2008 17:07

Tks Wapper I guess it wont be long now before we hear from Montagu.

[wapper] 07/2/2008 15:26

DJ Biffa Bidder Readies Financing For GBP1.5 Bln Bid - Sources



By Anousha Sakoui and Marietta Cauchi

Of DOW JONES NEWSWIRES



LONDON (Dow Jones)--Montagu Private Equity LLP and Global Infrastructure Partners are lining up banks for its bid on U.K. waste group Biffa PLC (BIFF.LN), according to people familiar with the situation.

Four or five banks are expected to underwrite the financing for a bid which values the company at around GBP1.5 billion, including assuming GBP300 million of Biffa's debt, according to the people. However it is unclear whether or not the banks have given signed commitments.

HSBC (HBC), HBOS (HBOOY) are likely to be part of the lineup, along with the bidder's advisers Deutsche Bank (DB) and UBS (UBS), and potentially Royal Bank of Scotland (RBS), the people said.

Biffa opened its books to due diligence by the funds in December following a revised bid proposal, which raised their offer to 350 pence a share.

The proposal is subject to a number of preconditions, including completion of due diligence, which must be satisfied before an offer can be made.

Biffa said its board, which has been advised by Citi and JPMorgan Cazenove, would be prepared to recommend their offer if it were tabled.

Buyout fund CVC Capital Partners continues to monitor the situation, another person familiar with the matter said. France's Suez and Australia's Macquarie Bank are also interested in the business, according to press reports.

[46pete] 07/2/2008 08:50

Break out at last!!

[46pete] 06/2/2008 08:57

Here we go again,same old pattern.

[46pete] 04/2/2008 09:08

More people should read the independent!!

[peterz] 02/2/2008 09:02

From above article:

Biffa's shares were pushed up as well, gaining 6.25 per cent to 323p after Altium Securities, pointing to the stock's bid potential, advised investors to "buy".

[mitzis] 02/2/2008 06:56

Altium says Buy..

[46pete] 01/2/2008 08:38

groover66. lets hope dreams turn into reality,price is looking more promising.

[mitzis] 01/2/2008 08:22

Thanks for that Wad it just goes to emphasise how cheap they are.

[wad collector] 01/2/2008 08:21

From the telegraph;

Australian investment group Macquarie, private equity firm CVC and French industrial services company Suez are all said to now be circling waste collection company Biffa.


But with Biffa's shares ending 3 worse at 304p, you could be forgiven for thinking that a takeover at the 350p mooted offer price is unlikely to happen.

Indeed, shares in Biffa have seen very volatile trading over the last few months.

Since a private equity consortium comprising Hg Capital and Montagu approached the company at the end of last year with a potential offer of around 350p, Biffa's shares have closed as high as 341p and as low as 304p.

As the shape of the bidding consortium has changed - with Global Infrastructure Partners (GIP) replacing Hg Capital as the partner for Montagu - hedge funds have become increasingly nervous that the deal will now not be going through.

There have also been rumours that Montagu and GIP are having trouble securing financing for the deal amid a worsening global credit crunch.

However, sources have said if there were any material problems in terms of the financing, the company or the offeror would then have to make an official announcement to ensure a false market wasn't being created in the share price.

And now the market talk is that Biffa has received further approaches.

[peterz] 01/2/2008 08:12

Nice little spike, if it was 25ish I'd think some news was imminent

[groover66] 31/1/2008 20:08

Wet ones Eh ? I kinda like you're thinking on that Pete (in a straight sort of way).
Don't get me wrong, Biffa dudes, you're theories and views are greatly appreciated and eagerly awaited by me. Good stuff . My point is this. Unless you're there, my dream (wet or otherwise) seems as good a way of deciding the outcome of this takeover as any....
(still holding)

[ideal420] 30/1/2008 21:37

Risk Reward is not as simple as quoting percentage upside/downside. There is also the balance of which is more likely. I'd rather gamble on 14% and I think its far more likely than 35% drop.

The credit crunch has been ongoing, the banks have backed this offer at 350 knowing that.

I understand things are very wobbly right now, but 350 has been backed. They could remove backing and the offer, but that would seem strange given the timing, the crunch was kicking off way before the offer and the banks know whats going on.

In Jan '07 we were offered 5.8% for 6mths lending into the money market which was much higher than the previous month. In May '07 we were offered 6.8% which was an amazing rate. A few months later and we knew why, there was no money. The banks have known for a long time as they've been desperate for a long time.

If the banks remove backing it would be very strange. Not that I'm saying it can't or won't happen, just that it would be strange.

[46pete] 30/1/2008 18:31

Hope it wasnt a wet one...lol

[groover66] 30/1/2008 17:10

No need to worry guys, I had a dream last night.......its definitely going.