Big Food Grp. Share Discussion Threads

[bigface] 21/9/2004 08:09

Tend to agree cairbbean - the deal is more or less done.

[caribbean] 20/9/2004 23:27

I find Grimsys statements a bit strange, first his 110p announcement 'not made with the agreement of Bidder' I took that to mean an invite to other interested parties to join in, but then the statement to recommend the offer seemed a mite too quick to me. Can it be the deal has already been done at 110p.
I agree with bigface the pension problem is no suprise to Bauger.

[bigface] 20/9/2004 20:31

It depends why the bid fails the knife. If it fails because another bidder comes in, for example, the price could rise to double your 60p.

fatmansays - My take on the statement is that they are making it clear to Bauger that they intend to recommend accepting their offer to remove one element of doubt from the proceedings.

Expert - I wonder who you will be working for next 1/4 - Malcolm Walker, Bauger,
or Grimsby - Good luck!

WHILE THERE ARE NEVER ANY GUARANTEES IN THIS GAME I THINK THE QUESTION WE HAVE TO ASK OURSELVES IS: WHY WOULD BFG OPEN THEIR BOOKS TO BAUGER IF THEY THOUGHT HE WASN'T GOING TO BID 110p?

[the knife] 20/9/2004 20:16

what will the price fall to in the bid doesnt go ahead? any guesses? 60p?

[expert363] 20/9/2004 19:07

once again the staff told one thing and being sold out again why should the employees beleive anything the managment says!!!!!

[fatmansays] 20/9/2004 18:49

Bigface:

What's your take on this evenings statement that Board would recommend 110p if offer was made.?

Do you think it sounds like they are a bit eager to grab any offer, or do you think the share price might run up a little closer to the 110p tomorrow ?

[bigface] 20/9/2004 17:56

Uncertainty generated by Bauger reserving teh right to lower price has hit the share price I prefer a fall frankly as it makes it more likely that the deal will go through at 110p.

The 98 won't hold, but if it does will be selling eveything to buy in the morning

Good luck

Fun isn't it!!!

[old crow] 20/9/2004 12:32

Are the MMs reducing price to 100
and looking for that 10% profit.

Keep Crowing

[bigface] 20/9/2004 08:29

I think it probably is caribbean, whih is part of the reason I think that despite the pension problem, that 110p will go through. bauger can't really lose at his average price, and I think he knows it.

[halogen] 19/9/2004 23:21

caribbean,if only.

[caribbean] 19/9/2004 22:19

Maybe Walker (who has never got over losing his company)may fancy a free hand by Bauger to take up the rains again! His Cool Trader 'hobby' proves he can still do it. Why would he want to do it? Pride & 750 stores, I'm sure he would like to walk back into Deeside to prove a point. How would the city take this? after all he left them holding the bag while sunning himself in the Maldives, they could get to love him again once the graphs start going in the right direction. Bauger can sit back and make money faster than they will with Grimsy. Ah if only life was so simple,

[bigface] 19/9/2004 20:06

Cheers farsight and caribean and thanks for the link kingy

The Knife - sales to 10 Serptember 04 are being compared with the exceptional summer sales to 10th sep 2003. They are bound to be lower like for like. Profits (according to Grimsby reported in the FT) are not affected as lower sales are being "mitigated" by maintaining margin and cost cutting.

If Bauger can accerate the refurbishment of stores faster than BFG can then sales and profitability will increase. He may well sell off some of the businesses.

The pension problem is common to virtually all businesses, but was reported in three separtate papers with three different figures.

Bauger would have been aware of this before making his bid.

The Telegraph was telling its readers to sell BFG the other week - perhaps those running working peoples pension funds let the Telegrapgh do their thinking for them too.

[halogen] 19/9/2004 20:04

Intresting posts on the stories about walker the talk`er,,making a play for some of the iceland stores,i belive this to be true.
His recent baby cooltrader,is going great guns,he`s first store which has been open about 2 years in wrexham,was his reinstatement in to frozen food,,,,,,he even had the cheek to offer the iceland manger in wrexham the same job in his new store in the same town,on improved terms.
He now has a number of cooltrader stores,and increasing all the time. Most of these stores are based around the north wales/merseyside.
Hope this adds substance to the above.

[farsight] 19/9/2004 18:18

Good one bigface.

[the knife] 19/9/2004 17:24

kingdwg,

thanks for that, yes it makes sense, bauger buys bfg then sells the lot - iceland to mw, ww to bb and booker to private equity. ultimately they are saying this business is going nowhere as a listed company so privatise it and split it up into components. presumably wont make any money out of the transactions though, just ridding themselves of the embarassment

[kingdwg] 19/9/2004 17:04

Well here's the link anyway

[kingdwg] 19/9/2004 15:35

I think it was in the Mail or the Indy that Malcolm Walker is up for some of the stores.

[the knife] 19/9/2004 14:12

bigface,

re my earlier comment, Grimsey and Co have been unable to get to grips with this business, sales figures on friday were awful. this is inspite of Grimsey's record at wickes and management having actively bought shares in the market on a number of occasions. very very competitive on the high street and business sqeezed by large supermarkets and convenience stores. perhaps bauger will succeed where others have failed. but my guess is this is going to be a deal too far for them.

regards

the knife

[uknighted] 19/9/2004 13:43

Surely the pension deficit must have declined with the stock market rising over the last few weeks?

[caribbean] 19/9/2004 12:10

Interesting times guys. I'm with Bigface rather than media who maybe spent 10 minutes on analysis. Bigface has been pretty consistant over longer term. Hope next week brings more suitors to the party!

[kingdwg] 19/9/2004 09:56

Bit of a negative article about the pension fund deficit in the Telegraph this morning then they go on to say other bidders could emerge this week.

[bigface] 19/9/2004 08:19

U in over 110 rogerman?

[bigface] 19/9/2004 08:16

I read three reports FT & Guardian & Mail who are positive overall, though typically certain figures vary which reiterates the need do your own thinking.

The common ground is that Management have opened the books to Bauger (which is further evidence that they are happy with the price), though Grimsby is reported as saying that the bid may flush out another buyer.

There is a feeling that the price is on the low side, but shreholders will agree to sell out to Bauger.

[uknighted] 19/9/2004 00:48

If it gets taken over at 110p then your shares will be bought back at 110p - no dealing charges. Once the offer becomes unconditional then you will have to accept it. Majority rules ok - you have no choice!!