Hargreaves Lansdown Share Discussion Threads

[m_kerr] 23/5/2024 16:29

NOt surprised PE have bid, as I have stated on here before a PE offer was in the pipeline as it has most of the attributes PE look for, including a cheap share price.

It seems the board are aware of the strengths of the business, and PE will have to stump up more to get the deal over the line.

In this case, the bloated cost structure makes it an even more attractive target, since it's easy low hanging fruit to strip out those costs.

There are very few quality companies in the ftse. I suspect it may be a morrisons situation where the winning bid is significantly above the initial offer.

[danb45] 23/5/2024 16:16

I was presuming if a bid goes through HL would still be listed ? Obvs not if Peter takes it private A proper ball ache moving everything

[growthpotential] 23/5/2024 16:01

I would certainly move my accounts if it went private (SIPP, LISA, Cash ISA, Junior ISA)

[danb45] 23/5/2024 15:59

as a holder obviously happy about the rise today.But as a user of HL are there downsides if a bid goes through ? I'd presume not but have seen some comments where investors are saying they'd pull their investments out, any one with ideas why they'd do that ?

[giltedge1] 23/5/2024 13:12

Agree £10 floor but 5% shorts to buy, usually afternoons so lots of upside £12 maybe.

[adamb1978] 23/5/2024 11:49

Sometimes you see an amount of bid spec remaining in a price after an offer fails. I dont think its a foregone conclusion that the price goes back to 900p when the approach fails, but agree that it wont stay at 1050-1100. I'm completely realxed about that impending pull back though

[stoopid] 23/5/2024 11:43

We all think the bid was a cheeky one and so do the board. But, if the deal collapses HL will tank. I doubt the "consortium" will up the bid to what the board would find acceptable, which I reckon would be about 1500

[eigthwonder] 23/5/2024 08:47

cheeky focker bid. and if they hoped by publicising it they would somehow shame the board into engaging at that price, the initial reaction would suggest that it is going to backfire. quick profits are all well and good but like lea i had this one in for the long haul

[leadixon] 23/5/2024 08:31

As my biggest position I’m actually annoyed as I wanted this as a long term holding given I really like the current direction of travel so not surprised at a bid, but I’d want at least 16/17 for them to take it off market now, but no way they’ll pay it

[dexdringle] 23/5/2024 08:18

These PE monkeys should buy SJP instead. Half the price and twice as profitable.

[chester9] 23/5/2024 06:46

The directors buying in late Feb is interesting with hindsight.

[adamb1978] 23/5/2024 06:39

Agreed Lomax. And looking back 2-3 years on the chart, people will mentally have this pegged as a share price in that area with the recent lower levels being an unusual blip. Coupled with the long-term founder owners, an offer needs to be way way higher than the derisory one suggested

[lomax99] 23/5/2024 05:33

Forecast eps for the current FY puts them on a PE of 14.4 at £9.79. Schwab are on a PE of 23, which would equate to £15.66, which is 59% higher than the rejected offer price of £9.85. HL. An offer would need to be materially higher to succeed.

[adamb1978] 22/5/2024 20:29

OK - I thought the founders owned more than that...but they do own 25% which means they can block special resolutions etc. Some of the instis will listen to them too.

Those two deliver the deal or kill it.

[newbold120] 22/5/2024 20:28

Agree - can't see the board recommending this. UK market is on the move now. Imagine what would happen to fees and service in a leveraged buyout situation ?!

[dickbush] 22/5/2024 20:26

FWIW I, too, believe, this bid is derisory. £14/15 looks a minimum given the ratings of competitors.

[dickbush] 22/5/2024 19:13

Shareholders

Peter Hargreaves 93,838,474 19.78 %

Lindsell Train Ltd. 56,874,459 11.99 %

Stephen Philip Lansdown 27,087,419 5.711 %

Baillie Gifford & Co.23,517,973 4.958 %

The Vanguard Group, Inc. 14,827,238 3.126 %

BlackRock Investment Management (UK) Ltd. 14,677,495 3.094 %

Liontrust Investment Partners LLP 12,385,345 2.611 %

Metropolis Capital Ltd. 10,861,123 2.290 %

BlackRock Fund Advisors 7,827,000 1.650 %

UBS Asset Management (UK) Ltd.7,184,417 1.515 %

[adamb1978] 22/5/2024 18:58

I think the founders will be looking back at the c.1500p price a couple years ago and not sell out now. They don't need the cash, will be picking up piles of divis and will expect the price to get back there. It feels massively opportunistic from the funds

[stoopid] 22/5/2024 18:33

There will have been some big time info leakage around the 26th April regarding that approach and offer.Coincidently, that's exactly the same day as HL started it's meteoric rise from the depths of about 730...

[yf23_1] 22/5/2024 17:41

It costs a lot of money to acquire clients, especially 'sticky' clients and HL. has a lot of them.

[oggyrocks] 22/5/2024 17:38

What would people expect for this ? £11 or more ? Shorts will be closing tomorrow so that will boost price.

Only have a smallish position here - but this makes it more exciting. Bought at just over £8 per share.

GLA