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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 |
Date | Subject | Author | Discuss |
---|---|---|---|
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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