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GKN GKN

482.40
0.00 (0.00%)
03 Jan 2025 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
GKN LSE:GKN London Ordinary Share GB0030646508 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 482.40 481.00 481.50 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

GKN Share Discussion Threads

Showing 2976 to 2999 of 3075 messages
Chat Pages: 123  122  121  120  119  118  117  116  115  114  113  112  Older
DateSubjectAuthorDiscuss
19/3/2018
22:56
Minerve,
Have you tried the B&M Bargains Pick & Mix to put your portfolio?
Personally, I keep my shares in a portmanteau.

meanwhile
19/3/2018
22:40
I will be pleased if Melrose fail. The thought of GKN Aerospace and Dana holdings in my portfolio are much more attractive than a big bag of Bertie's Allsorts.
minerve
19/3/2018
22:38
Good update Bukko.
minerve
19/3/2018
20:55
- MAUMEE, Ohio, March 19, 2018 /PRNewswir
-
- Dana Incorporated (NYSE: DAN) has undertaken a series of productive meetings with U.K.-based shareholders of GKN PLC (LON: GKN). During those meetings, Dana outlined the compelling rationale for its proposed combination with GKN Driveline. Dana received direct feedback from GKN shareholders that they would like to hold stock in the proposed new Dana plc and participate in the undeniable strategic benefits of the Dana-GKN Driveline combination, as well as the significant value that will be unlocked through this transaction

n order to provide more shareholders with an opportunity to hold stock of Dana plc, Dana today confirmed that it will seek a secondary 'standard listing' on the Main Market of the London Stock Exchange for Dana plc following the completion of the proposed combination.
Additionally, Dana confirmed that it expects to continue to pay its current quarterly dividend of $0.10 per share to the enlarged shareholder group.
Jonathan Collins, executive vice president and chief financial officer of Dana, said: "The clear message from shareholders is that they want to be able to hold stock in a combined Dana plc, which will be a global leader in vehicle drive systems and electrical propulsion. Through a secondary listing on the London Stock Exchange, existing shareholders of both Dana and GKN will have an opportunity to share in the success of the new company, including value created through the delivery of $235 million in annual synergies

bukko
19/3/2018
20:36
grahamburn

I will stick my neck out and say that no w8-ben form is required, but anyone affected by the matter should seek advice from a professional source.

As I understand it, the structure avoids issue of dividends cross border. Instead the dividends are issued by each part of the combined entity (Dana plc in its UK domicile) direct to its shareholders, and local taxes apply.

bukko
19/3/2018
14:38
On a separate matter, Dana has agreed for the new combined Dana/GKN entity to have a standard listing on the London Stock Exchange.

So presumably should the deal proceed, UK-based shareholders will have to complete the IRS's W8-ben form (valid for 3 years) with regard to withholding taxes in the USA on any dividends declared. Though that should be a formality and many UK holders will secure any dividends free of US tax, there are many instances for UK residents where the 30% withholding tax is still deducted in full or at a reduced rate of 15% if nominee holdings are held through Crest.

grahamburn
18/3/2018
22:48
Another billion promised for GKN pension funds by Melrose, apparently from proceeds of disposals of the constituent parts of the company.

So since the original Melrose offer, a further £1.7B to be spent on the acquisition. Too much in my opinion, just to provide a swansong for the Melrose trio who have always wanted to run a big company.
Those improvements Melrose will need to make at GKN just keep getting bigger.

meanwhile
18/3/2018
22:28
"Personally I do not wish to hold MRO paper at all."

Me too. If they get it, I am moving on and I will not be looking back.

minerve
18/3/2018
22:01
Cosimondo & all

From the tone of your post I assume your short is predicated to be closed before the last day of trading in GKN shares.

Further to Minerve's comments I would refer you to GKN's defense documents where they state that the MRO offer equated to a PE ratio use of 22 for Melrose and 14 for GKN. Followed by derisive comments. I mention it in case you wish to check it out for your model.

Short Tracker shows considerable shorting of Melrose shares but none showing against GKN. Short positions below 0.5% are not recorded. One could of course short both for different reasons. I would rather wait and see what happens.

Personally I do not wish to hold MRO paper at all.

bukko
18/3/2018
19:02
Cosimondo,

Good luck with your investment.
We can all make judgements but they can be good or bad ones.

meanwhile
18/3/2018
18:44
MEANWHILE,

Our entries crossed. Iam not quite certain about the answer to your question. Einstein found Maths easier than me. I am sure I spend too long on it.

cosimodo
18/3/2018
18:19
I've made my final judgement now.
meanwhile
18/3/2018
18:08
I think the offer, evaluated properly might be worth taking up if you think that Melrose was going to significantly improve the performance without too much collateral damage. However any profit would be spread further and GKN shareholders cut would be reduced by about 40% plus any increase in director’s benefits. I need to record that I am currently short on GKN.
cosimodo
18/3/2018
17:41
Cosimodo,

I've looked again. You are either a genius or a complete & utter idiot. I reserve final judgement.
Your model would not be out of place as an Appendix to Einstein's General Theory of Relativity.

meanwhile
18/3/2018
17:36
Yes, exactly. The sentiment has changed and the PEs to go with it. One would have to make guesstimates of sensible PEs on all parts of the business going foward.
minerve
18/3/2018
17:21
I think I understand the Maths but the answer doesn't indicate to me that you should be shorting GKN. Using the pre-bid prices/market capitalisations of the 2 companies doesn't make any sense to me.

This is the stock market. Does your model/theory take into account the potential the market sees for improvement at GKN, either with or without MRO's ownership.

meanwhile
18/3/2018
16:52
I need to state that I have shorted GKN and this is why. With firms making bids for companies whoose market capitalisation nears theirs or in this case exceeds it. The stated valuations don't allow for dilution.
To evaluate the offer one has to do the Maths. If you add together, the market capitalisations of the 2 firms the day before the announcement (I use a 30 or 50 day moving average price), subtract any cash to be paid out (for the moment) and divide by the number of new shares, you get a lower price for the offeror’s new shares. Using this new price, plus any cash component to evaluate the offer, it can look very different.
This gives the starting value which prices the combination as if its constituents were to carry on without any changes. I think it might be useful if an accounting standard were brought in, reflecting this to be used, like the term APR. Even an online calculator might help.
Here the value of the new Melrose shares is reduced by over 18%. The value of the offer, to GKN shareholders, becomes 364p (March 2017 High = 375), rather than the 467 which Melrose quotes.
I know all shareholders concerned should seek advice, or do the calculation themselves, but the way the GKN price has risen might indicate otherwise.
Melrose would have quite a challenge on their hands to make enough extra, in excess of costs, to make their offer truly worth 467p. Playing around with my spreadsheet calculator it looks like; it would have to be around £2.589 Billion.

cosimodo
13/3/2018
16:54
I meant put money into a charity, not take it out.
meanwhile
13/3/2018
16:27
I already run a charity.
minerve
13/3/2018
16:21
Minerve,

Why not do it then, giving the money to charity? This would be a better home than where it came from.

meanwhile
13/3/2018
12:11
MRO do not want to commit to anything other than their own bonus plans. LOL

And shareholders support these charlatans?

Morally bankrupt if you ask me.

As a shareholder I would rather see the pensions sorted than The Three Amigos and a few others make c£285m between them for doing nothing really special. It's a party trick - I could do it myself if I didn't have a conscience.

minerve
13/3/2018
12:06
GKN RNS on pension schemes a short time ago together with Trustees report. It would appear that MRO have not met with the Trustees yet. Will MRO match that and how?
bukko
13/3/2018
11:56
LOL

You're trying hard. I'll give you that.

minerve
13/3/2018
11:42
The Times Business News lead story is on the evolving bid situation whilst its Business Commentary column yet again concludes that Melrose are in the driving seat. Its main thrust though is the appalling flip flopping and weekly/even daily change of policy and plans which pervade the GKN boardroom.
grahamburn
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