Dtz Share Discussion Threads

[bubble pricker] 25/11/2011 16:52

The article is poorly researched journo drivel. It may very well be that UGL may in total pay $250m to acquire TZ. However, such money will in the first instance be used to pay off DTZ debt. It is nonsense to believe that UGL will hand over $250m to existing DTZ shareholders, and then inherit all the debt on the balance sheet.

Once again, the company itself has said that DTZ sharholders will get nowt.

8 November 2011

DTZ Holdings plc

('DTZ / 'Group' / 'Company')

Selection of preferred bidder

On 7 November 2011, DTZ announced that it continued to evaluate interest in the business generated through the formal sale process commenced on 19 October 2011.

DTZ is now pleased to announce that it has selected UGL Limited ('UGL') as its preferred bidder.

[...]

The valuation of DTZ derived from the UGL proposal, however, means that, given the level of debt within DTZ, there is minimal value, if any, that may be attributed to the ordinary shares of DTZ.

[typo56] 25/11/2011 16:05

Something doesn't stack up about that article. If Leung owns 8m shares and he stands to get a payout of $7.5m that's about 60p per share. Different share class? Or are they talking enterprise value, in which case he's not going to get $7.5m, is he?



Plus the 2011 annual report seems to state his holding at 1 May 2011 as 7,227,838, not "more than eight million shares". A minor point, but indicates inaccuracy.

[duncandisorderly] 25/11/2011 13:09

'No firm offer' made yet for DTZ, says UGL
Samantha McClary 23/11/2011 11:00


Australian services giant UGL this morning denied reports in the Hong Kong press that it had agreed a deal to take over DTZ.

In a statement to the Australian Stock Exchange, the group said: "UGL advises that the report is incorrect as no firm offer has been made by UGL for DTZ."

The report in Hong Kong's The Standard claimed that a memo had been circulated to staff saying that the company had been sold.

It said that a price of $250m (£160m) had been agreed.

UGL has until 6 December to make a firm offer for the agent

[duncandisorderly] 16/11/2011 13:37

tomatoe/tomato

[bubble pricker] 16/11/2011 04:30

Duncan, you must be a bit slow to comprehend. There is a formal sales process in place (see RNS below). According the the company's own statement, "there is minimal value, if any, that may be attributed to the ordinary shares of DTZ". Which part of that do you not understand?

______________________________________

7 November 2011

DTZ Holdings plc
('DTZ / 'Group' / 'Company')

Update on formal sale process

On 19 October 2011, DTZ announced that it was evaluating preliminary expressions of interest from parties potentially interested in acquiring DTZ by implementing a formal sale process of the company.

That formal sale process is ongoing and has attracted considerable interest in the business which DTZ continues to evaluate.

Based on the valuation of DTZ derived from proposals received to date, however, and, given the level of debt within DTZ, there is minimal value, if any, that may be attributed to the ordinary shares of DTZ, although the exact value is uncertain.

[duncandisorderly] 15/11/2011 19:04

Thats 9 million shares that were bought at 4p last week.Somethings going on

[duncandisorderly] 15/11/2011 14:19

potatoe/potato

[bubble pricker] 15/11/2011 14:15

there will be no "bidding war", certainly not for the equity. Why would anyone want the equity (and go through Takeover Code shenanigans) when they can go to the creditors and negotiate a price?

There will be nothing in it for existing shareholders whatever happens.

[duncandisorderly] 15/11/2011 11:28

You may well be correct bp,but all I know is you need two contenders for a bidding war and at the moment this one has three as far as I know.

[bubble pricker] 15/11/2011 09:17

duncan. DTZ is bust. The company has itself said that there will be little if any value to shareholders. Why on earth people keep clutching straws I will never comprehend. Sure, someone might be interested in some of DTZ' assets. But in that case they will deal with the creditors. Why would anyone make an offer to the shareholders?

I have just opened a short position on this, from 3.3p. I wish this company would have come to my attention before, but there is still plenty of room at the bottom even from 3.3p. Shares of bankrupt companies often keep trading at some value, mainly because some die-hard shareholders keep buying more in the false belief that because it has fallen 97% it must be cheap. There is no value left for sharegholders, the company says in its own statement, and yet people keep dreaming about takeovers.

[duncandisorderly] 15/11/2011 08:30

That's a no then.Bloody hell has everyone on this site topped themselves.I read somewhere that there was a very large American company after DTZ.I will do some research

[duncandisorderly] 14/11/2011 10:03

Does anyone know which other compannies could/would be interested in acquiring DTZ,thanks.

[welshwiz] 11/11/2011 11:39

Time to be closing that big gap :-)

[sportbilly1976] 11/11/2011 08:22

UKMassey,

No, he means you won't be able to buy this stock soon as it will be suspended...

[athik] 09/11/2011 17:53

I would get out as quick as!!

[ukmassy] 09/11/2011 11:52

Pwhite, Do you mean shorting rather then shortly? LOL!

[pwhite73] 09/11/2011 11:47

Interesting developments here and one to watch. But you cannot buy this stock for shortly when you log into your monitor screen you will see the lettes 'SU' under the flag column and the numnber '2' under the RN column.

[dbno] 09/11/2011 09:27

I'm new to this. Who are sgp please?

[welshwiz] 09/11/2011 06:24

I take no notice of jounarlistic tittle tattle.
In the real world i hear murmurrings of an sgp induced egm.
I therefore raise my target to 15p.

[p o n a] 08/11/2011 22:16

JPMorgan Asset Management sold about 12.5 million shares yesterday, or 4.5 per cent of the company, at 2 pence a share, the JPMorgan Chase & Co. affiliate said today. Schroders Plc also sold its 1.47 per cent stake.

[mally6] 08/11/2011 11:41

my take
sgl own 56% but obviuosly want the the remaining 46% for peanuts so dtz have gone to ugl who may buy outright or do a merger.if ugl were to offer anything sgl will not give up its share cheaply.i reckon a bidding war will start between the two.dtz going to ugl away from sgl shows me they dont want to throw away dtz.this should be interesting from here onwards will stick it out
personally the rns no value to shareholders dont mean too much just yet

[p o n a] 08/11/2011 10:47

Yes I did Duncan - I picked up a few more.

[p o n a] 08/11/2011 10:47

If shareholders dont approve - creditors will force the company into administration and then sell it to UGL.

Any RNS they issue regarding a confirmed offer will no doubt make that clear.