Forth Ports Share Discussion Threads

[alan russell] 16/2/2006 22:25

I have been sorely tempted to increase my holding but the rise from 1350p in mid November is so strong that a certain pull-back is surely inevitable (particularly as the rise has been fuelled by takeover speculation). Maybe not... who knows? There must be good chance of a retreat to the mid 1600's within the next few months if no bid emerges. In the long run I have nothing but confidence - 2000p by the end of 2007 - so why worry about the exact timing? Should I, shouldn't I? Any views?

[gateside] 16/2/2006 19:31

UBS has raised the target for FPT to 1750p from 1505p and has them as a HOLD

[highland terrier] 09/2/2006 13:29

I should have stated that the rise in Associated British Ports was on yesterdays price.

[highland terrier] 09/2/2006 13:27

I think it's more to do with a statemet made on Monday morning that Singapore's PSA was unlikely to get involved in a bidding war with Dubai over P & O as it is felt that Dubai have unlimited money and therefore are unlikely to be outbid.
Also in todays paper it states that Associated British Ports was up 46p to 633.5p on takeover talk.

[ed 123] 09/2/2006 12:45

Maybe a combination of renewed housing confidence and the BAA situation. It makes both halves of Forth's assets look more valuable.

[markth] 09/2/2006 12:28

I have to say, if it stays here at close of play, it looks good for us longs.

[markth] 08/2/2006 12:57

Well it's pushing up nicely today in a falling market. I wonder if it will push on past its previous closing high of about 1740. If so, a good sign for further progress I reckon.

[ed 123] 06/2/2006 16:15

Back to £17.

Due to renewed confidence in housing market?

[highland terrier] 27/1/2006 18:31

What goes up (even with fundamental reason) must come down.
No share,no matter how strong,will reach its peak and retain it.
As for how far it will drop,who knows.

[spaceparallax] 27/1/2006 17:48

Interesting to see how much of the tremendous recent rise can be retained - clearly, things are on the wane. What gooes up (without fundamantal reason) must come down.

[highland terrier] 22/1/2006 16:49

PSA to make 3.5 bln stg counter-offer for P&O - report


LONDON (AFX) - Singapore ports group PSA is to make a 3.5 bln stg
counter-bid for ports, ferries and property group Peninsular & Oriental Steam
Navigation Co this week, according to a report.
PSA is expected to table a 470 pence per share offer for P&O, trumping the
443 pence per share bid by Dubai's state-owned port operator DP World (DPW), the
Observer reported.
Once it has seen PSA's proposals, DPW is tipped to return with a fresh offer
that could value P&O at more than 500 pence, the report claimed.
On Friday, P&O said it had adjourned an extraordinary meeting of its
shareholders until "not later than Feb 15", which it said would allow PSA enough
time to put forward a formal alternative offer.
On Jan 10, P&O confirmed it had received an approach from PSA, a unit of
Temasek Holdings. Temasek has a 4.1 pct stake in P&O.
[e-mail]
paw/ec

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Statement made to Stock Exchange Today

[markth] 16/1/2006 18:33

It wouldn't hurt IMO.

[faraway] 16/1/2006 12:13

Time for a 1 : 5 re-rating then?

[markth] 16/1/2006 09:45

Not that I'm a fan of the IC (their tip has kissed many a good stock to death) but I do agree that it's undervalued; £18-£19 does sort of feel right given the upside from revaluation of their land and property (the former is carried on the books at cost).

[alan russell] 16/1/2006 08:37

Simon Thompson in the IC reckons that FPT are worth holding with a target price of 1900p. He did the sum of parts valuation of 1700p a year ago I had mentioned before.

[ed 123] 11/1/2006 10:30

Yes, not sold my Forth but did buy some Lloyds TSB today. Agree RBS looks good, too. Looking for slow and steady rise from Lloyds towards its xd date in March - maybe 525/530 by then.

markth, you must be outperforming the mortgage rate with your investments. Pity I didn't take out a big mortgage. With hindsight, I was too cautious.

[markth] 11/1/2006 09:24

Fantastic. Up another ~50p already this am.

Although I feel it's still a little undervalued, it's getting to the point where I'm thinking of booking some profits. There are some good plays (LLOY, RBS) amongst the banks at the moment which would be a good home for the money.

[markth] 10/1/2006 19:32

At £19 I could sell and pay off my mortgage.....

[highland terrier] 10/1/2006 19:07

Market makers tend to know these things in advance of announcements,however if a suitor does come in for Forth Ports and offers £19 or more per share you have my permission to rub my nose in the dirt and say I told you so.
Let me see X number of shares times £19 per share,how I'd love to be wrong.

[ed 123] 10/1/2006 18:31

Possibly, but Forth's share price rose before the P&O announcement.

Nonetheless, the P&O news has to be good for Forth.

It feels like it's only a matter of time before Forth gets a suitor.

[highland terrier] 10/1/2006 17:52

This may be reason for increase in share price.

P&O approached by PSA International about possible 470 pence/share offer UPDATE


LONDON (AFX) - The Peninsular & Oriental Steam Navigation Co said it has
received an approach from PSA International Pte Ltd which may lead to an offer
to acquire the whole of the P&O deferred stock at 470 pence in cash per unit.
It added that PSA also proposes to make an offer for the concessionary stock
and the cancellation of the preferred stock on terms similar to those offered by
a unit of DP World, Dubai's state-owned ports operator, which has an outstanding
443 pence recommended offer for P&O.
P&O said it has will allow PSA a limited period of time to satisfy its
pre-conditions and put forward a formal offer, and it will adjourn the
stockholder and court meetings scheduled for Jan 20 for about two weeks.
P&O said a firm offer from PSA is subject to preconditions that include the
board of P&O withdrawing its recommendation of the DP World offer and
unanimously recommending the PSA offer.
(Adding precondition that P&O withdraw backing of DP World offer)
[e-mail]
jc

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[ed 123] 10/1/2006 16:40

Someone was keen to get more in the closing auction - paid £16.87.

[markth] 10/1/2006 13:30

Mind you I did also sell out of oil in summer thinking it'd peaked. But I put the money in this, so maybe it was a wash.