Brown (n) Share Discussion Threads

[boystown] 31/1/2023 00:19

Another brief comment from Simon Cawkwell, aka Evil Knevil, aka "Live Ink " on this BB via Master Invesor:

"N.Brown (BWNG) is sharply ahead this morning at 35p as the market wakes up to the fact that bid talks may well be on the way. The Alliances are loaded with stock and the Mashley feels like running the joint. It is simply a matter of price and it is hard to see why this should be less than 60p."

[japinto101] 30/1/2023 23:26

can’t remember which companies were involved ,but on a few occasions I’ve seen pure equity bids.0 cash element.Really materially increase the value of the initial equity bid price.Market professionals see a good deal,fit and prospects and Immediately the acquirer's shares can rerate and thus the offer moves immediately to a higher monetary value than the actual bid. Just Do it …I’ve got a lot of recovering to do and need to start somewhere.

[japinto101] 30/1/2023 22:54

All Frasers have to do is make an offer purely by paper swap.Exchange their equity which is at a ten-year high!well Browns is nearer 10 Year lows.This is the absolute bargain of the century especially for Frasers paper swap. It will then springboard frazers share price intothe stratosphere,or at least low earth orbit…The market will soon latch onto the synergies created by a strong credit arm.A new major business Arm.
This is monopoly and chess roled into one.Frasers have the magical touch of gameifying business.

Maybe they should launch a cryptocurrency …Frasercorn ..Or Unifrasercorn. Anyone.!

[ivancampo] 30/1/2023 18:24

Ashley bought them Gripfit, all there in the RNS's. 3 trades totalling 505k today - either Alliance or Ashley again, hoovering up what they can.

[gripfit] 30/1/2023 17:28

Who’s bought them ?? Will be interesting

[no dice] 30/1/2023 15:30

Schroders account for 46m of the total FG holding of 58.15m announced Friday, still another 12.15m to be to be notified.

[camo1997] 30/1/2023 14:59

Schroder owns 1.25% of Frasers. Anything brewing?

[ivancampo] 30/1/2023 14:56

Schroeders out, 0%.

[smithie6] 30/1/2023 09:55

nett assets £441 million

intangibles 122

so, TNAV = 441 - 122
= £319 million.

(before the RNS about Allianz settlement. one should also look in detail to see how much of the expected Allianz settlement was included in those numbers. some of it was included I think)

versus a cap. value of £166 million.

not surprising that there might be competition for a buy out.

I cannot see any takeover taking place at £166 million to obtain TNAV of £319 million, & those assets being profitable.

( this number needs adjusting for the difference between allocated for Allianza settlement & the actual settlement, delta=£24million.

so the TNAV number of £319 million reduces by £24 million.
=£295 million

=64p/share

versus a share price of ~35-36p

looks cheap imo

[smithie6] 30/1/2023 09:49

...that worked out well !! je je.

[outsizeclothes.com] 30/1/2023 09:39

Why would anyone sell?
But that's just it ! Schroeders sold loads at under 30p !

[smithie6] 30/1/2023 08:42

indeed...TNAV per share is much higher than the current share price

[santangello] 30/1/2023 08:31

....and why on earth would anyone sell ???Gifthorse, mouth etc

[smithie6] 30/1/2023 08:29

you can now sell at 34p

buy trades going thru at 35.9p

moving up

[gripfit] 30/1/2023 08:07

Looks extremely strong this morning …

[creditcrunchies] 30/1/2023 07:41

Looking at the Fraser's stake now they're in this for more than a trade they'll try to take it over. Issue is getting the Alliance's to trade their shares. The bulk of those were bought at 50-60p range, recent transactions have averaged it down a bit. I don't think they'll accept anything less than 60p. Not sure what happens to other shareholders in that scenario

[outsizeclothes.com] 29/1/2023 23:32

Having underwritten the 2020 Open offer, the Alliances have been buying since that at way below the Offer price of 57p. The Mashley is looking for a quick profit, into an Alliance bid.
Amongst other things, considering what they paid in the open offer, the Alliances aren't going to take anything less than 50 from the Mashley, nor are they going to bid anything more than maybe 40 to try the take this private and tidy things for themselves in running the Company the way they want to.
All IMHO, but I have 85k shares at 27p where my mouth is, looking for that 40p bid.
Long term holders will, unfortunately, get shafted by either party bidding now.

[gripfit] 29/1/2023 11:52

BWNG get a shout on director dealings in the MAIL ON SUNDAY …

[johnv] 28/1/2023 14:00

Thanks no dice.

[no dice] 28/1/2023 12:11

For those asking why the Alliance Concert Party do not have to make an offer for the business when their shareholding is >30%, the answer is that this requirement was waived by a resolution passed as a part of the open offer process at the end of 2020.

[dicktrade] 28/1/2023 05:45

Schroeders and Statens are also large holders in FRAS and I imagine have a relationship with Ashley so I imagine some deal has been done . If Ashley now holds 18% of BWNG then one can only assume that he will make a bid for the rest. 50p anyone ??

[johnv] 28/1/2023 00:05

Yes but at what price are they going to ask for our shares.

[gripfit] 27/1/2023 22:21

There’s no getting away from the fact that a buyer has bought them …. And they haven’t bought them to loose money on them . It’s also likely that has cleared the seller out .