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GNK Greene King Plc

849.20
0.00 (0.00%)
04 Nov 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Greene King Plc LSE:GNK London Ordinary Share GB00B0HZP136 ORD 12.5P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 849.20 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
849.00 849.20
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 849.20 GBX

Greene King (GNK) Latest News

Real-Time news about Greene King Plc (London Stock Exchange): 0 recent articles

Greene King (GNK) Discussions and Chat

Greene King Forums and Chat

Date Time Title Posts
08/10/202007:09Greene King2,063
28/6/201806:32Leisure day...1
10/12/200408:43GNK62

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Greene King (GNK) Top Chat Posts

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Posted at 21/3/2020 08:51 by skyship
Last August a HK based propco bid £2.6bn for GNK - 850p/share.

Timing is everything. Looking at MARS I suspect that today they could have bought GNK for £300m-£500m!
Posted at 29/9/2019 14:01 by jeffian
The timetable (included in the Scheme Document ) has to be couched in those terms because it depends on Regulatory approvals etc which are beyond their control.

What you do know for sure at this stage is that the Court hearing and company approvals are set for 9 October and GNK have "guided" investors -
"The Acquisition is currently expected to complete in the fourth quarter of 2019, subject to approval of Greene King Shareholders and CKA Shareholders and receipt of the required decision(s) from the European Commission and the sanction of the Scheme by the Court."
Posted at 21/8/2019 13:33 by spud
Counter bid by Molson Coors? Canaccord seems to think there could be...



Analysts at Canaccord Genuity raised their target price on British landlord Greene King on Tuesday, but lowered their recommendation for the firm's shares from 'buy' to 'hold' following the previous session's accepted offer from CK Noble.

Shares of Greene King surged on Monday after the pub group agreed to be bought by a subsidiary of CK Asset Holdings, the flagship of the CK Hutchison Group, for 850.0p a share in cash - the broker's new target price.

Following the announcement, the Canadian broker took a fresh look at its numbers on Greene King, pointing out that the offer was at "a substantial premium" to its previous 670.0p share price target.

But Canaccord Genuity wondered if there was still a possible counter-bidder to be flushed out, noting that it had long held the view that the major asset-intense pub companies were potential targets for major brewers wishing to enter the UK market, with the most obvious bidder being Molson Coors.

"If any brewer is interested in extending its position in the UK market, they need to hurry up," said Canaccord

spud
Posted at 20/8/2019 07:48 by waspfactory
Thanks hotters, it was a nice start to the week. Plenty more UK PLC's are looking attractive to overseas buyers with GBP this low and undervalued share prices.
Posted at 19/8/2019 17:36 by kinwah
Financial bids like this are about the only takeovers the Competition and Markets Authority will allow these days. Greene King is being bought for its dullness. Good assets, reliable earnings, slow but steady growth. You can see why the board have recommended the offer. It would take years for the share price to get to 850p under its own steam. But congrats to the holders, especially those who predicted a takeover only days ago.
Posted at 14/8/2019 11:34 by spud
Weak pound and weak share price = A bargain for an American company. How long before yet another old English business makes the trip across the Atlantic I wonder...

spud
Posted at 13/6/2019 11:33 by thefartingcommie
fyi...

BUZZ – Greene King: Falls; Berenberg says dividend cut, more investment necessary
10:33

* British pub operator Greene King shares fall as much as 4.4%; on track for the worst day in over a month
* Berenberg says main issues facing GNK are poor value-for-money offer, recurring charges and dividend that consumes over 100% of free cash flow
* "In the short term, we think that cutting the dividend, as well as more 'investment' into the P&L, are both necessary – and neither would be taken well in the short term," brokerage says
* GNK's current dividend yield is 5.1% - Refinitiv Eikon data
* Dividend yield of some peers: Mitchells & Butlers 0.00%, JD Wetherspoon 0.86%, Young & Co's Brewery 1.17%
* Cost pressures have weighed on GNK, and they overshadowed upbeat forecast in April...
* Berenberg also flags that FY 2020 faces tough comps, and trading is likely to have got off to a poor start
* GNK to report FY 2019 results later this month
* Broker says results may come "slightly too soon" for new CEO Nick Mackenzie to address issues
* At PT of 450p and a "sell" rating, Berenberg most bearish on GNK; median PT of 15 analysts is 685p - Refinitiv Eikon data
* Including the session's losses, GNK up ~19% YTD
Posted at 10/6/2019 05:23 by lukmanpatel
Another troll by the username lsehotdealz haha, share price is stagnant and there’s talks of fundraise at 10p on that board lol desperation has lead to going round posting on different board to prevent share price from dropping, usually ud stay quiet and average down and accumulate if you see huge potential lmaoo he’s spamming all the boards
Posted at 06/11/2018 16:19 by ianian4
Jeffian. I totally agree with you, there are many things out of their control on a day to day, week to week or month to month basis, but we are in this to make a profit from share price fluctuations. He has grown the company in size but allowed the share price to plummet on his watch, consistently over the last 4 or so years.
I can only think that the initial share price dip this morning, on the news that he was leaving, was fear that he may change his mind before the ink was dry. Luckily the resignation was accepted immediately allowing the rebound.
Posted at 12/4/2018 06:39 by the deacon
Langton's Assessment :GREENE KING 49 WEEK TRADING UPDATE:• Greene King has this morning updated on trading for the first 49wks of its current financial year being the period to the 8th April 2018 and our comments are set out below:• Headline numbers:• Greene King reports that it expects PBT in the year to end-April to be in the region of £240m to £245m. This is broadly in line with market estimates• Greene King reports managed sales in the 49wks to 8 April were down by 1.8% on the same period last year.• GNK says Pub Partners' net revenue for the first 48wks of the year was down 0.3% on last year• Brewing & Brands sales volumes were down by 0.7% (against an ale market thought to be down around 3.1%)• Managed pubs:• GNK says 'the weather over the last 12 weeks impacted trading, particularly in our destination food-led pubs, and on an underlying basis, excluding the impact of snow, LFL sales in the year-to-date were -1.2%.'• The 49wk period represents a slowdown on the 37wk period. Certainly 2018 does include the snow but it has Easter in it too, which was not the case for the first 49wks of 2017• As this is only a trading update, there is no comment on margins.• GNK says that food took the hit with 'both drink and accommodation LFL sales were ahead of last year.'• The company adds 'trading over Easter was strong with LFL sales up 2.8% against the Easter weekend last year, helped by strong sporting fixtures, especially football and boxing.'• GNK says that investment is paying off 'despite the continued challenging market backdrop.'• Momentum is clearly negative and, while 2018 numbers (though recently reduced) would appear to be in the bag, 2019 could be tough• GNK says 'we continue to reposition Pub Company to drive growth going forward; we will complete the exit from Fayre & Square by the financial year end; we opened nine new pubs over the year; and we invested core and brand conversion capex in 292 pubs.'• Other trading data:• GNK says 'after 48 weeks, LFL net profit in Pub Partners was -0.3% while own-brewed volumes in Brewing & Brands were -0.7%, ahead of the UK ale market at -3.1%.'• Both number represent a slowdown on week 37 data• GNK adds 'we remain on track to deliver targeted cost savings of £40-45m, we will have spent c. £160m in the full year in ensuring our estate remains well invested and our disposal proceeds are likely to be ahead of expectations at c. £120m following the sale of three high value leasehold pubs.'• Overall, Greene King reports it expects profit before tax and exceptionals to be 'in the range of £240-245m.'• GNK concludes 'with our high quality portfolio of pubs, excellent team, strong balance sheet and sustainable dividend, we remain well placed to withstand the external market challenges and deliver long-term value to our shareholders.'• Langton Comment: Greene King has reassured on 2018 but 2019 may be tough.• There are no comments today (and perhaps none were to be expected) on margins, debt or dividend.• We believe GNK will hold or perhaps marginally increase its dividend in order to maintain its sterling record in that regard. However, with profits down some 11%, there may be some concerns here going forward.• The weather has been unhelpful for 6mths or so.• But GNK has been able to confirm that the bottom has not fallen out of its world. This is reassuring to say the least.• Spirit was an ambitious acquisition. The group's shares have not performed well since the purchase. Certainly other pub companies have also experienced tough conditions and GNK is addressing its issues re Fayre and Square but the SPRT purchase may, with hindsight, not have been the best of ideas.• Uncertainty is unavoidable and this will extend to 2019 forecasts. These may be trimmed back.• GNK is prima facie cheap at these levels. It is one of the UK's better-positioned pub companies and, with its shares now trading at a single-digit multiple, this may be an attractive entry point.• However, the direction of travel is negative and the group has to execute on its strategy. There have been some signs of indigestion recently and cautionary comments may put off would-be buyers in the short term.
Greene King share price data is direct from the London Stock Exchange

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