Cookson Share Discussion Threads

[flatoutfred] 02/4/2012 09:29

.
Ha, and here was me thinking folks were buying in for the due divi !

[dizzylizzy2] 02/4/2012 09:23

mmm...very tasty indeed. Seems a lot of people knew of this beforehand?
Breaking the company in 2 could attract a bid for the electronics side so plenty of upside to come.

[rwlly] 02/4/2012 08:03

Hopefully shoot up.

[robertfaulkner] 01/4/2012 20:40

Where is everybody. The Sunday Times Business section front page 1/8th article "Cooksons plots £2bn break up" See BigBig's post above for full article.

This is the biggest news on Cookson, what will the share price do tomorrow?

[robertfaulkner] 01/4/2012 14:15

Well done BigBig, I saw it this morning, I sold at 730p a week or so ago.

Have I missed out? I wondered why they shot up so much, this story must have been common knowledge amongst the city in crowd.

Will be interesting to see if the share price shoots up on Monday and stays up

This one way or the other will prove insider trading is alive and kicking

[bigbigdave] 01/4/2012 07:18

Sunday Times

Cookson plots £2bn break-up

ONE of the oldest industrial companies in Britain is working on a secret plan to break itself in two.

Cookson, whose £1.9 billion stock market value puts it just outside the FTSE 100, is plotting to spin off its electronics business, which makes parts for gadgets such as the iPad.

It has appointed Rothschild, the investment bank, to work on a proposal that would see the division floated as a standalone company on the London Stock Exchange. It accounts for about a third of Cookson's £2.8 billion in annual sales.

A break-up could help Cookson's share price catch up with its rivals. The FTSE 250 company, which began three centuries ago with metal and glass operations on Tyneside, trades at a 15%-20% discount to the rest of its sector. The shares closed last week at 691p, having hit a high of 724½p in the past year.

Cevian Capital is the biggest shareholder with an 18% stake. The activist investor, chaired by Lord Myners, has been agitating for Cookson to split, but it is understood that the management team had been working on demerger plans for some months before Cevian declared its hand.

Cookson has more than 15,000 staff in 40 countries. It has two main divisions plus a smaller precious metals operation in Europe.

The biggest division produces specialised ceramics for steelmakers. It accounts for about two-thirds of sales.

Most of the rest of the revenue comes from the fast-growing electronics arm, which manufactures the high-performance materials used in circuit boards.

Nick Salmon, Cookson's chief executive, believes this section of the business would thrive as a separately listed company. Analysts predict it could be valued between £800m and £1 billion.

Michael Blogg at Investec said: "These are two large businesses that could probably stand on their own two feet."

Three years ago, Salmon came under fire for launching an emergency £240m cash call and cutting 1,250 jobs. However, the announcement in February of an 11% rise in annual profits to £211.6m has rebuilt the company's reputation in the City. Cookson declined to comment.

[deadly] 22/3/2012 14:52

China is the driver for steel, copper etc. and the news is negative

[robertfaulkner] 22/3/2012 14:50

Thanks Deadly, is it that steel/iron production will be down. Is China especially effected?

[deadly] 22/3/2012 13:25

linked to resource stocks through foundry products

[robertfaulkner] 22/3/2012 13:21

What's upset Cksn, down 26p - 3.6%?

[robertfaulkner] 21/3/2012 08:11

A week without a post?

Maybe budget will hope

[kazz] 14/3/2012 14:47

Good call on the 730p Bob.

[robertfaulkner] 14/3/2012 14:03

I don't know how but my 730p limit sell struck, now I have £33k I don't know what to do with.

I should just put it safe in a Building Society, 65 in June and I keep telling myself get the portfolio into cash like a pension fund would do. Then I worry about inflation.

[robertfaulkner] 13/3/2012 18:27

Another great day for Cksn, I got greedy and moved my limit sell to 730p, I would be out at a good profit at my (pre today) limit sell of 720p

Time will tell

[rwlly] 13/3/2012 07:59

Thanks for the info, looks positive for the share price

[robertfaulkner] 12/3/2012 23:24

The more I read about Cevian the more I like the sound of them, they say they invest in an undervalued plc for the long term.

I'm was tempted to get out of my 4500 Cksn shares at 720p (I picked this as about the max share price over the last few years).

Why, if it gets to 730p again, it should not go on up much more, I have no logic. I have nothing I can do with the funds I would get from selling out of Cksn.

It would be a nice big profit on one sharte in my portfollio where all the banks are well under water



Strategy

Cevian Capital is an active ownership investment firm creating value by (i) acquiring substantial ownership positions in undervalued public companies and (ii) realizing their long term value potential through active ownership.

Cevian generally invests in companies overlooked or misunderstood by the market and in many instances out of favor with investors. Cevian targets investments where there is a meaningful opportunity to enhance the long term value by improving corporate governance, operational performance, corporate strategy and structure.

Cevian manages a concentrated portfolio, with significant ownership positions in a limited number of publicly listed companies and is typically one of the largest shareholders in its portfolio companies. Consequently, Cevian maintains a strong commitment to oversight of each of its investments.

[robertfaulkner] 12/3/2012 22:59

they acquire signiicant ownership positions in European public companies where long term value can be enhanced through active ownership.

How much does an investment vechile like this have to own to be in active ownership?

They don't have to have more than 50% do they ?



"About Us

Cevian Capital is an international investment firm acquiring significant ownership positions in European public companies where long term value can be enhanced through active ownership. Cevian Capital is advised by Cevian Capital AB, Cevian Capital AG and Cevian Capital (UK) LLP. "

[robertfaulkner] 12/3/2012 22:52

This Swede seems to own Cevian Capital and directs Cevian Capital II master fund,


I just hope he keeps buying, today he spent £4 mil on 581,911 more Cksn shares, their total shareholding in Cksn at £7 a share is worth £29 million




Christer Gardell
Board member (non-executive, independent of the company and its significant shareholders)

Born 1960
Nationality Swedish
Education MSc.(Econ)


On Tieto Board
Member of the Remuneration Committee
Member of the Board since 2010

Professional Experience
Managing Director, Cevian Capital AB
Founder and Managing Partner of Cevian Capital, a fund focused on public companies in Europe

Cevian Capital AB acts as an investment advisor to a significant shareholder of Tieto, Cevian Capital II Master Fund L.P.

Board Memberships
Board member of Metso Corporation

[dizzylizzy2] 12/3/2012 22:21

Cevian Capital bought another 582k shares bringing their holding to 15.07%. Wonder when they'll stop buying? Well, good for the share price in future as I doubt they will dump their holding due to newspaper carping on about Greece etc as the same jounos will switch and find something to be positive about the following day.Do you ever notice how quick we move from doom and gloom to rosy outlook?
Good on Cevian but Mr Myners is not the only clever one round town as I was filling my ISA with these during the last fear bout last year all the way to the bottom. Nice.

[rwlly] 08/3/2012 07:20

I think MMs were trying to shake a few loose shares of the tree.

[robertfaulkner] 07/3/2012 18:40

At least Cksn regained a bit of the lost ground from Tue but didn't close near it's day high.

Let's hope for good news on the Greece bond swap tomorrow

[robertfaulkner] 07/3/2012 18:37

Thanks Guys, L200 has a opposite opinion on the BARC thread Ken Bachelor's thread if anyone is interested

[gorse] 07/3/2012 09:08

I have also signed.

[kazz] 07/3/2012 09:01

Done Bob.

Regards....kazz