LOL Enami, precisely what I would like as anything before 6/4 next year is going to give me a headache too! |
Short term holdwrs selling out today I suspect, if you bought below 500 in August then you are 25% ahead, a fair gain for a short hold. It might take a long time for the regulatory process to complete and then another period before the cash was paid, also folks might not fancy holding US registered stock.
The offer worth 64.5p per share more than today's value if you hold on. Personally I would prefer if they completed after April 5 as I am at my CGT limit already.
1000 @ 1.5630 USD/GBP
£2,799 130 XL SHARES @ 33.66
£4,100 CASH
£6,899 TOTAL OFFER VALUE
£6,255 CURRENT VALUE
64.46 p PER SHARE GAIN |
No probs. Xmas madness :-) If it had been 610 cash plus the shares I would certainly have had the hoover out! |
Yes, tempting to buy a few more for a quick 10% because I think this will go through. Will wait to see how XL share price performs over next day or so. |
Mr A, how do you work that out please? As far as I can see the cash component is 410P making no allowance for the share component, a long way short of the current 625P market price of CGL. What have I missed? |
well if it goes down much further you get the XL shares for free (assuming t/o goes ahead). Tempting to buy a few more. |
Too quick to take profits - bird in the hand -------. |
Would help if it was an all cash offer. |
Does the market think this T/O is not going to happen? Must do or why today's drop? |
afaica Catlin own 10% of box innovation (t/a insure the box) but not sure how much that could be worth. |
Quick value calculation at end of day.
OFFER VALUE FOR EVERY 1000 SHARES
1000 @ 1.5703 USD/GBP
2763 130 XL SHARES @ 33.37
4100 CASH
6863 TOTAL OFFER VALUE
6450 CURRENT VALUE
41.26 p PER SHARE GAIN |
Thanks RCT |
I assume it means that it is in the accounts/balance sheet at a certain value (no idea what that is) and if the sale gets over this amount, then the extra will accrue to the existing shareholders only. |
Catlin also confirms that it is in advanced negotiations regarding the sale of its interest in Box Innovation Group Limited (trading as ITB). In the event a sale is agreed on terms which generate surplus capital, any distribution of that surplus to Catlin shareholders would be in addition to the indicative terms of the Possible Offer.
Anyone any idea what that could mean? |
Damn, i've been waiting to buy in to catlin |
XL Group dropped from 35.01 to 33.72 at wall Street open as I type so not expecting 699p worth unless it recovers. |
Amlin now rising!! |
I have sold, happy with that. |
Under the indicative terms of the Possible Offer, XL would acquire 100% of Catlin for consideration of 410 pence in cash and 0.130 shares of XL for each Catlin common share. On the basis of the closing price of an XL share on 16 December of $35.01, an exchange rate of $1.573:GBP1 and a fully diluted share count of 386 million shares, the Possible Offer values each Catlin share at 699 pence. Under the terms of the Possible Offer, Catlin shareholders would not receive a final dividend for the year ended 31 December 2014. |
plus and minus, it was about 3% of the port and one of those I planned to increase significantly, looking for good steady income and the chance to grow.
A small very welcome gain, but nothing compared to the hit in other areas recently.
I normally sell out too early with these T/O situations, so I think we will wait a bit and see how it develops.
Continued good luck to those holding. |
XL 699p value woo hoo |
strangly, BRIT which I hold, spiked at abt same time just now? |
even more annoyed now !! |
Register for real-time alerts, custom portfolio, and market movers
Hot Features
Premium
