Hammerson Share Discussion Threads

[manrobert] 13/4/2018 10:09

be interesting to see how hammerson board respond toj ustify turning down bid now around 200p above current price.

[rock star] 13/4/2018 08:52

Good to see the invaders repelled. We are in a time of protectionism. In the UK we have sold our soul for short term gains. Not good.

[cc2014] 13/4/2018 07:48

Interesting times. Let's see what the share price does. 480p or lower?

[manrobert] 13/4/2018 07:41

well done board of hammerson selling shareholders down the river

[cc2014] 11/4/2018 11:06

I'm guessing INTU rising is simply to do with the maths.

If K doesn't go ahead, HMSO share price will fall to say 480p. 0.475x480 = 228p for INTU.

HMSO would have to fall to 442p to give INTU a share price of 210p which is where it is now (ignoring dividends). So, INTU looks value on this measure.

If K really wants this it will have to bid for both HMSO and INTU. I don't know if they have the capital to do that (or the desire).



I'm kind of in agreement. what the market is saying is we're not interested at 635p. If you come back at 700-750p we might think about it.

[manrobert] 11/4/2018 10:07

for better or worse I have bt more hammerson

[trcml] 11/4/2018 10:04

My tuppence worth. The question is what HMSO hoping to achieve? HMSO wants INTU; it'll make HMSO virtually takeover-proof; as well as guaranteeing HMSO directors and senior managers a career for life. By rejecting K, HMSO is playing for time. HMSO has already said the offer documents for INTU would be in April, albeit currently on hold. The process of mopping up INTU shares, the bulk of which are owned by just a few shareholders, won't take long. There is the hurdle of the Competition Commission to overcome but some (advance) assurances to sell enough centres to pacify the Competition authorities has already been announced.

K cannot proceed without backing from H's key shareholders. I think what the market is saying is this: buzz off K, you're not going to get H at any price. Money isn't everything. K knows it's too late to buy Intu (also the calibre of centres isn't as good).

As for INTU share price rising strongly on the news, don't forget it's only a few days until xd: that could have something to do with it.

[cc2014] 11/4/2018 09:22

well I get the Board rejecting the offer. It's significantly below NAV and that's the job of the Board.

However, I find the market reaction quite astonishing. Clearly the market was expecting a revised higher offer than 635p but even then I don't see the rationale for the price drop. Unless they have knowledge that Kleppierre are happy to walk away.

INTU rising strongly on this news which suits me as I have four times as many INTU but I can't help feeling there's something I don't understand going on here.

[manrobert] 11/4/2018 09:18

couple of 80k buys.i wonder.

[manrobert] 11/4/2018 09:06

crazy selling saying to the board that hammerson is not worth 600 plus.no plan from the board to support the price,it looks like they are a sitting duck to a hostile bid.

[manrobert] 11/4/2018 08:37

think they are trying a softly approach to see if they can get agreement before going over the head of the board.still think they could send their brokers into the market and pick up cheap shares.they specialy havnt said its their final offer.

[cc2014] 11/4/2018 08:21

I think it's rather puzzling.

Klepierre have already intimated in an interview that if they cannot get agreement with management they will consider going aggressive.

I can moan and groan and pretend 635p isn't enough but in reality I would vote it through.

I am really struggling not to buy some CFD's to short term trade to add to my long term holding.

I'm surprised how much selling is taking place on this news. The stock market can be a complete mystery to me sometimes. Clearly there are many people out there who think Klepierre wont' follow through with an official bid, which of course may happen but I would have though in this case the share price will fall back to a price somewhere above the previous low. Say around 480p

[manrobert] 11/4/2018 08:07

not quite a brisk response this time.a 3rd bid may succeed?

[cc2014] 11/4/2018 07:33

635p rejected

[manrobert] 10/4/2018 19:17

the situation might encourage the French group to send their brokers into the market on Thursday or Friday and pick up around 10% of the company which would reduce the overall cost of their bid.

[manrobert] 09/4/2018 14:46

the hammerson board have said take no action but have not put forward why and how the company is worth more than 615.

[cc2014] 09/4/2018 14:26

I agree - they will get it for £7. But I think the clever thing for them to do would be a make a bid including INTU. Then I think they might get it for around £6.50.

[manrobert] 09/4/2018 14:12

thanks cc I feel the same.logic suggests a higher bid but market not moving that way.i reckon the French could win with offer around £7.

[cc2014] 09/4/2018 13:51

No information at all. Share price suggests market not very hopeful of successful bid.

If you take out the dividend share price off low but no higher than it was at the end of December.

I continue to hold but I'm starting to get a little nervous

[manrobert] 09/4/2018 13:44

anyone got any ideas on bid situation?

[manrobert] 05/4/2018 13:18

should be in play again soon

[manrobert] 22/3/2018 12:08

I agree hammersons is a sitting duck.got no defence.but I think it will get a higher offer.

[777mason] 22/3/2018 10:38

interesting times I believe we will see a drop to £510p way overbought on the Bollinger Bands.sitting duck

[manrobert] 22/3/2018 10:24

maybe put yourself in the position of the French company.they have had a cheap bid turned down.hammerson only at 437 because of a bid for intu not favoured by their shareholders.i don't see many options for hammersons to lift their share prce and a higher bid from the French likely to be snapped up.on the other hand it is frustrating to see price falling.

[cc2014] 22/3/2018 10:04

ok, i really don't know what to do now. The share price is falling driven by a sell program. The same style of program is running in the buy direction on INTU.

It's almost as if someone is reversing what they did yesterday.


I'm looking at things this way.

HMSO - possible bid at 613. Not sure why we wouldn't get one. It's alot higher than the existing share price and Klepierre would likely have some extra ammo and be prepared to go to 650. Potential gain say 60p.

If bid does not happen HMSO was 437 before so would likely fall back but perhaps not as far as 437 as the market now recognises some possible bid premia. Say it would fall back to 460. Potential loss 90p.


INTU was 204 before the bid. If the bid fails and HMSO goes to 460, INTU would likely be 215 based on 0.475 HMSO for each INTU at 460.
INTU currently at 210

So, INTU at least seems unlikely to fall further unless vote goes against merger which is unlikely.

So, I have decided to hold both trades. If either of them pop up a decent amount though I'm going to sell half which is kind of a cop-out but I would feel easier in my own mind