Galliford Try Share Discussion Threads

[spudders] 30/4/2017 13:12

Peel Hunt recommendation BUY target 1690

[fizzypop] 28/4/2017 14:30

Looking cheaper by the minute.

[grahamburn] 05/4/2017 09:27

Probably time to buy Bovis shares if Greg's record at Galliford is anything to go by!

[speedsgh] 05/4/2017 08:53

Galliford Try inks £163m London housing deals -

[speedsgh] 05/4/2017 08:49

Was that a collective sigh of relief that I heard at 7am this morning?...
"On 12 March 2017, Galliford Try announced that it had approached the Board of Bovis and proposed an all share merger between Galliford Try and Bovis. Galliford Try now confirms that it is no longer considering a combination with Bovis."

In other news...
Ex-GFRD CEO Greg Fitzgerald has today been appointed CEO of Bovis

CEO appointment and operational update -

[broadwood] 05/4/2017 07:54

H
ousebuilder Galliford Try has given up its pursuit of under-pressure rival Bovis Homes just a week after fellow suitor Redrow walked away from the takeover tussle.
Galliford had remained in talks with Bovis after its approach was first rejected last month, but said it had abandoned plans for a tie-up after it was unable to "secure the support of the board of Bovis on terms that represent the best interests of Galliford Try shareholders".
The move leaves Bovis without any potential deals on the table, with Redrow last week saying it would not return with a higher offer after its initial proposal was also rebuffed.

[speedsgh] 04/4/2017 11:51

Costain/Galliford Try JV wins £96m M1 upgrade -

[communityheat] 04/4/2017 09:15

Is the UK about to have a district heating scandal? One needs to ask if house builders and Heat providers are cashing in on installing incorrect heat specification generating extra cash?

[speedsgh] 03/4/2017 11:37

spudders - correct...

For the purposes of the Code, Galliford Try will be treated as the offeror company. Under Rule 2.6(a) of the Code, Galliford Try must, by 5.00 pm on 9 April 2017 either announce a firm intention to make an offer for Bovis under Rule 2.7 of the Code or announce that it does not intend to make an offer for Bovis, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline will only be extended with the consent of the Takeover Panel in accordance with Rule 2.6(c) of the Code.

[spudders] 02/4/2017 11:29

Divi to be paid this coming Thursday. I believe GFRD have until the 9th re Bovis.

[lord gnome] 29/3/2017 14:59

Judging from today's price action, either the triggering of Article 50 portends a profit collapse at GFRD or we are about to announce a done deal for Bovis.

[speedsgh] 28/3/2017 20:40

Galliford Try in box seat for Bovis after Redrow refusal -

Housebuilder Redrow abandons pursuit of rival Bovis, clearing the way for Galliford Try -

"...It is understood that Galliford Try is still keen to effect a combination, with the two businesses being seen as highly complementary. Galliford would bring operational expertise that Bovis is lacking, as shown by the payouts to buyers to get deals over the line..."

[speedsgh] 28/3/2017 20:38

Muse awards Galliford Try £25m London flats job (22/3) -

Galliford Try bags £30m Almacantar London resi job (20/3) -

Galliford Try lands Brampton scheme (15/3) -
Galliford Try Partnerships has been awarded a £23.5m contract by the Metropolitan Housing Trust for a development at the former RAF Brampton site in Huntingdon, Cambridgeshire.

[micos] 23/3/2017 08:51

And there she goes!! An ideal buying opportunity IMHO, DYOR.

[micos] 22/3/2017 16:51

Today's drop looked like XD day had arrived early so still a drop to come again tomorrow.

[ganthorpe] 21/3/2017 10:40

Construction margins seem to be taking a long time to improve despite all the talk of legacy contracts which should have worked through by now? Better to sell off construction or switch scarce labor to house building?

[broadwood] 13/3/2017 08:43

( - Housebuilder Bovis Homes was forced to respond to recent press speculation regarding a potential offer for the company on Monday, saying it did receive written proposals from Redrow and Galliford Try outlining potential merger proposals.
The FTSE 250 firm said Redrow proposed a share and cash transaction for the company, while Galliford Try proposed an all-share transaction for the company, with both proposals preliminary and subject to due diligence.

"The board of Bovis reviewed the proposals and concluded that neither reflected the underlying value of the Bovis business and therefore both should be rejected," the board explained in a statement.

"The board also concluded that the Redrow proposal was not in the interests of Bovis shareholders as the cash element of the offer would require shareholders to crystallise value at the current Bovis valuation."

Bovis said the decision to reject the proposals was communicated to the two parties.

"Redrow subsequently indicated that it was not willing to improve the terms of its proposal and discussions were terminated.

"Discussions with Galliford Try are ongoing."

In the meantime, the board said it was making "good progress" with plans to recover and improve group profitability and enhance return on capital employed, with the search for a new chief executive also progressing well.

"The board of Bovis remains committed to maximising returns to shareholders and will continue to consider all strategic alternatives."

[broadwood] 13/3/2017 07:30

Galliford Try has proposed to Bovis that the equity in the combined group would be split 52.25% to Galliford Try shareholders and 47.75% to Bovis shareholders. On the basis of the share price of Galliford Try at close of business on 10 March 2017 this would value the entire issued equity of Bovis at GBP1,191m or 886p per share, representing a 7.0% premium to the closing share price of Bovis on the same date.
Under Galliford Try's proposal, Galliford Try shareholders would receive the Galliford Try interim dividend announced on 21 February 2017 to be paid on 6 April 2017, and Bovis shareholders would receive the Bovis recommended final dividend announced on 20 February 2017 and payable on 19 May 2017

[wiltshireram] 12/3/2017 22:04

Interesting that the share price has been climbing ahead of the approach for Bovis; also that Redrow are no longer in the frame.

That would be some acquisition for GFRD, almost doubling the current market cap.

TBH, I'm not sure whether I'm happy with the bid or not! Any views from others?

[deadly] 10/3/2017 19:12

Highest for well over a year today!
Still good value and big dividend.

[fabrezan] 02/3/2017 13:25

Linden Homes seem to be joining the Bovis club