Chaucer Hldgs Share Discussion Threads

[solarno lopez] 08/2/2011 12:48

anybody know the price of previous potential bids

[effortless cool] 08/2/2011 12:47

Brit went for 1 x NTA, Hardy rejected 1.3 x NTA.

Chaucer's underwriting record, I would say, is more akin to Brit's than Hardy's.

Multiple approaches does not guarantee a bidding war. There were multiple approaches back in 2009, none of which lead to a bid.

[harleymaxwell] 08/2/2011 12:37

not sure they are US tho?

[aleman] 08/2/2011 12:36

Is Canopius the US insurer mentioned or are they a 3rd interest?

[crawford] 08/2/2011 09:16

BRE is only going for book value, I wouldn't much more than that here.

[edmundshaw] 08/2/2011 08:37

Motor insurance seems a good place to be at the moment. Though things change... Still 1.0 * NTA seems a low valuation.

[jonwig] 08/2/2011 07:42

EC - if 'several approaches' is the case, I doubt we'd get back to 48p. To me the current 62p seems a fair valuation. I'll stick around for another few days to see what turns up.

[effortless cool] 08/2/2011 07:09

Let's say year-end NTA per share (including dividend) = 60p.

Best case: 1.2 x NTA = 72p

Base case: 1.0 x NTA = 60p

Worst case (no takeover): 0.8 x NTA = 48p

Insert your own NTA estiamtes and multiples, but IMHO that's the sort of range you're looking at.

[peterz] 08/2/2011 06:19

Any figures suggested anywhere...80p?

[effortless cool] 07/2/2011 21:02

Is Guy Hands still considered smart money?

[topvest] 07/2/2011 20:52

Hmmm - the smart money is going for Lloyds of London insurers at the moment. Why? They are cheap and very well placed!

[psolomons] 07/2/2011 20:48

This is in tomorrows independent:

JUST DAYS after losing the music giant
EMI, Guy Hands's investment vehicle
Terra Firma is back in pursuit of a deal
– in the rather less glamorous world of
insurance.
Terra Firma is understood to be one
of three potential bidders for Chaucer,
the Lloyd's of London insurer, which
was forced to reveal yesterday that it
was in bid talks after its shares shot up
in London trading

[aleman] 07/2/2011 17:32

Was an article about Guy Hands in the FT this weekend. (Coincidence?). Must take another look.

[harleymaxwell] 07/2/2011 16:39

guy hands private equity on sky report

[this_is_me] 07/2/2011 16:23

Bidding war in prospect! Happy days!

[solarno lopez] 07/2/2011 16:07

hahah I suppose it depends where he placed the wedge!!

[lionheart79] 07/2/2011 16:03

Where's that chartist with his bearish wedge and triple top?!

[solarno lopez] 07/2/2011 15:58

.....WHOOPEE......

[lord gnome] 07/2/2011 15:48

Great news. Shampoo already in the fridge. I like nothing more than multiple approaches where the bidders are forced to compete.

[edmundshaw] 07/2/2011 15:46

well well well. :-)

I like "a number of approaches". Could be a fight here! :-))

[topinfo] 07/2/2011 15:41

DJ Chaucer Holdings PLC Statement Re Share Price Movement

TIDMCHU

RNS Number : 8129A

Chaucer Holdings PLC

07 February 2011

Not for release, publication or distribution in whole or in part in, into or from any jurisdiction where to do so would constitute a violation of the relevant laws or regulations of such jurisdiction

Chaucer Holdings PLC

("Chaucer" or the "Company")

Statement Re Share Price Movement

Chaucer Holdings PLC, the specialist Lloyd's insurance group, notes the recent share price movement and confirms that it has recently received a number of approaches regarding a possible offer for the Company.

There is no certainty that these approaches will result in any offer being made for the Company, or as to what terms any such offer may include.

A further announcement on this subject will be made if and when appropriate.

Enquiries

Gavin Kelly/ John O'Malley

Kinmont (Financial Adviser to Chaucer)

T 020 7087 9100

Michiel Bakker

Willis Capital Markets & Advisory (Financial Adviser to Chaucer)

T 020 3124 8123

Justin Griffiths/ Sarah Gestetner

Citigate Dewe Rogerson (PR Adviser to Chaucer)

T 020 7638 9571

E [e-mail]

In accordance with Rule 2.10 of the City Code on Takeovers and Mergers ("the Code"), the Company

[lord gnome] 07/2/2011 15:40

Suddenly taken off - now in auction. All we now need is the RNS confirming an approach.