Costain Share Discussion Threads

[dafrog] 02/4/2013 18:24

Good, but why do they have to use EU kilometers? We use miles.

[rogerrail] 02/4/2013 16:48

Another large contract win from crossrail , they must be very happy with the service they are getting from COST

[ontheropes] 02/4/2013 16:39

Subject: Share news



DJ May Gurney Not Selected to Re-Bid Norfolk County Council Highway Job




LONDON--support services company May Gurney Integrated Services PLC (MAYG.LN), said Tuesday that has received preliminary notification from Norfolk County Council that it has not been selected on to the short-list in relation to the re-bid of the Norfolk County Council highway and related services procurement contract A.

MAIN FACTS:

-Started a formal appeal process with Norfolk County Council.

-The Norfolk County Council highway and related services procurement contract A, is due to commence on April 1, 2014 for an initial period of five years.

-May Gurney Integrated shares at 1620 GMT traded down 6.0 pence, or 2.4%, at 243.0 pence, valuing the company at GBP174.9 million.



-Write to Razak Musah Baba

[solarno lopez] 02/4/2013 11:36

Thats EXACTLY what they did last time...git carried and kept upping the bid...and if we had won what a bally mess we would have had .....

[alan@bj] 02/4/2013 11:23

According to today's papers Kier's finance and legal people are combing May Gurney's accounts this week. The danger for Cost shareholders is that if Kier do make an offer the Costain Board get carried away and overpay for MG. I remember they upped their bid for Mouchel twice.

[pyemckay] 29/3/2013 17:06

unsure but they have declared an interest in mayg anyway. they possibly dont want any of costain.

Im sure this story has legs and we will see how it unfolds.


It appears that mayg are the company that several suitors like the look of. maybe a few informal meetings over the easter weekend of the keir board?

[rogerrail] 29/3/2013 16:42

Why would Kier want to enter a bidding war ? they can wait until the merger is done and buy Cost/Mayg at a knock down price.

[pyemckay] 29/3/2013 16:22

if it goes through i too am looking for the integration to work. i like costain as a company and i will take the shares on offer and hold for a few years.

if it doesnt go through and mayg are bought out by someone else i will take advantage of the weakness in costains share price to buy in to the company.



pye

have a nice easter all.

[optomistic] 29/3/2013 16:03

pye, thanks for the debt figs, if it is the £3mill figure that will be very good.
As to what I think of the deal, unfortunately I am not an accountant and can only follow the markets lead and at the moment they are obviously not happy with it for Costain, mayg is a different story and yourself as a shareholder look like you are going to be OK with it.
If the deal goes through Costain shareholders can only hope that the integration of the two companies goes smoothly and then when complete the present Costain management will be able to manage a much larger entity, as it has taken them a long long time to get to where it is...and still is only returning a relatively small profit percentage on a huge turnover.
opto

[pyemckay] 29/3/2013 15:32

£23m short term borrowings, £23m cash, £74m under obligation finance leases.

it all depends how you look at it. company claim it has £3m net debt which seems better than i thought. i will need to double check my notes again later.

what do you think of the deal optimistic?

pye

[optomistic] 29/3/2013 14:06

pyemckay

How much debt does mayg have please?

[pyemckay] 29/3/2013 13:50

as a mayg shareholder I will be happy to become a costain may gurney shareholder.
Costains cash pile will be used to pay mayg debt no doubt. Mayg shareholders do seem to be getting deal at the moment. I'm not sure of a counterbid for mayg but if something did crop up And mayg were bought by a bigger company I would have to consider buying some costain shares at this fantastic price.

[solarno lopez] 29/3/2013 12:18

you would think so

[wipo1] 29/3/2013 12:08

solarno lopez, Yes the market had been wary about costain, but recently it has undergone a re-rating will this be reversed if this deal goes through?

[solarno lopez] 29/3/2013 09:01

Remember the MAY GURNEY error in contracts quite a few months ago. No wonder the City is worried they wonder if more skeletons will be unearthed. Add that to the Mouchel debacle and and ypou have a management that really does not understand the companies it wishes to acquire

[wipo1] 28/3/2013 21:17

optomistic - costain now only valued 4 million more market cap than mayg at close of play.

I think the problem here is the city does not value MAYG the same as costain and maybe KIE/CLLN?

My take on it is the city will think cost are diluting their share value by say 60p, take fair value down to 260p?

[optomistic] 28/3/2013 16:30

The low price is attracting quite a few 'o' buyers into the market..and a few sellers as well!
I don't think May G will be happy with Cost share price drop..not as good a deal for them as when it was agreed.

[optomistic] 28/3/2013 16:24

...and I was in a 10p profit at 303. Without this bloody event I was on my way to a good return...after about 17 years in the mire.

[solarno lopez] 28/3/2013 16:00

er I need to get out at 350

[wipo1] 28/3/2013 15:57

optomistic - Yes you could be right, I guess market hate uncertainty, I would consider re-entering at 260p

[optomistic] 28/3/2013 15:48

wipo, maybe that's what they were worried about and losing their seat on the gravy train.

[wipo1] 28/3/2013 15:44

The Mayg deal has no value for shareholders. cost trying to get too big for their boots? What will happen to costains cash pile?

From a shareholder point of view costain should have just kept plodding on and would have been a bid target themselves.

[solarno lopez] 28/3/2013 12:21

And where did MOUCHEL end ...in the bin