Henderson Opportunities Share Discussion Threads

[stevehol29] 21/8/2005 23:53

Patrick

I tend to agree, well I hope we are correct anyway.

I too had considered that it would be very unusual to take out the company at almost current market value. This would normally only happen to those who really need taking out and perhaps a merger of equals in reality.

We seem to be forgetting the investment at just under 19p of D C Thompson, are they investing in the knowledge of a quick return or are they themselves building a base from which to spoil the party and make an offer themselves?

This is a market the print groups want to switch increasingly into, high growth potential should equal a decent price for the business. This is a prize asset in any strategy to expand an online offering, there certainly would be rivalry.

Fingers crossed.

Steve

[patricktrfc] 21/8/2005 21:51

MDChand ,

You never get a new bid story in the Observer, it is usually rehashed from another older source, e.g. Egg story

So Trinity Mirror bids 20p, which equals £50m, not exactly a premium to the closing offer price of 19p is it....more like say 23p or 57 mill. And there are two "fierce rivals"..... who will counterbid.....up to say 30p or £75 mill, which is still peanuts to them. Not too far fetched is it

All IMHO, let's see what next week brings

P

PS Tony Reeves never sells cheap either, so 30p would be the min price I reckon.

[mdchand] 21/8/2005 17:03

Trinity Mirror is the frontrunner to buy online recruitment agency Hot Group, in a deal worth about £50 million - a transaction highlighting recent newspaper interest in serving young job-hunters via the internet.

'In 10 years many people will only use the net to look for positions, and that means some advertisers could drift away from the more established media,' said one analyst. 'As a consequence, media groups need to diversify.'

Trinity Mirror, headed by Sly Bailey, recently acquired GAAPweb.com for £10.45m. In the year to June 2005, GAAPweb.com had revenues of £2 million. The website acquisition follows another deal, announced in July, which saw Trinity Mirror buy the marketing site Smartnewhomes.com. Property is another source of ad sales at Trinity Mirror's large stable of regional papers.

One of Trinity Mirror's most fierce competitors, the Daily Mail & General Trust, has also bought websites to go with its regional papers. Last November, the trust paid £14m for a property sales website.

The future of national papers is being hotly debated. In a research note published a month ago, Deutsche Bank said: 'The relative performance of the national titles continues to be very poor. In the last 10 years, the circulation of the Mirror is down 32 per cent, the Sunday Mirror down 40 per cent and the People down 53 per cent.'

Bailey and Mirror chairman Victor Blank have had several offers for the national titles, the latest thought to be £800m from Marcus Evans, a conference organiser.

Bailey said recently: 'Sluggish consumer spending and a difficult retail environment have fed through into our advertising categories, largely display in the nationals and recruitment in the regionals.'

Observer - 21.08.05

£50m eh - thought it was meant to be nearer £75m!

[patricktrfc] 17/8/2005 13:43

MDChand

Hope so, I've never held a stock for two months before...day trader habits die hard!! Just think this may be a sure bet, there are three bidders and as per Kempsons post, the Mirror have started to mop up the online recruiters.

Looking for 25p+ on a bid.


P

[mdchand] 17/8/2005 13:30

tightening of the spread - MM's know something........

[patricktrfc] 16/8/2005 21:34

Kempson - excellent research, let's hope they are trying to corner the market then!


Another interested party keep buying...

Rule 8.3- hotgroup (The) PLC

RNS Number:1722Q
D.C.Thomson & Co. Ld
16 August 2005

FORM 8.3

DEALINGS BY PERSONS WHO OWN OR CONTROL 1% OR MORE OF ANY CLASS OF
RELEVANT SECURITY
(Rule 8.3 of The City Code on Takeovers and Mergers)


Name of purchaser/vendor * D.C. THOMSON & COMPANY LIMITED

Company dealt in HOTGROUP PLC (THE)

Relevant security dealt in 10P ORDINARY SHARES

If a connected EFM, name of offeree/offeror with N/A
which connected

If a connected EFM, nature of connection # N/A

Date of dealing 16TH AUGUST, 2005


DEALINGS +


Amount bought Price per unit (currency must be stated)

300,000 18.85P


Amount sold Price per unit (currency must be stated)





Resultant total amount and percentage of the
same relevant security owned or controlled 5,450,000 2.184%


IS A SUPPLEMENTAL FORM 8 (DERIVATIVE)/FORM 8 (OPTION) ATTACHED? NO

Date of disclosure 16TH AUGUST, 2005

Contact name IRENE DOUGLAS

Telephone number 01382 201534


* Specify the owner or controller in addition to the person dealing.
The naming of nominees or vehicle companies is insufficient.
In the case of disclosure of dealings by fund managers on behalf of
discretionary clients, the clients need not be named.
# See the definition of "connected fund managers and principal traders"
in the Definitions Section of the Code.
+ If disclosing dealings/holdings in derivatives or options, please
attach Supplemental Form 8 (Derivative) or Supplemental
Form 8 (Option), as appropriate.

For details of the Code's dealing disclosure requirements, see Rule 8 and its
Notes which can be viewed on the Takeover Panel's website at
www.thetakeoverpanel.org.uk.







This information is provided by RNS
The company news service from the London Stock Exchange

END

RETDGGMRVVRGKZM

[kempson01] 16/8/2005 12:10

Trinity Mirror have aquired 'Financial Jobs Online' today. I wonder if this is the start of a strategic plan to diversify into the recruitment market. Lets hope Hotgroup are next on their list!

ACQUISITION OF FINANCIAL JOBS ONLINE LIMITED

Trinity Mirror plc announces today the acquisition of Financial Jobs Online
Limited, the owner of GAAPweb.com, the UK's leading online recruitment site
serving the accountancy and finance sector.

Trinity Mirror acquired Financial Jobs Online for an initial consideration
of #10.45 million and a deferred consideration based on future earnings capped
to a maximum of #2.6 million, all of which will be satisfied in cash.

[patricktrfc] 15/8/2005 08:26

DC THompson increasing stake.....


Rule 8.3- Hotgroup PLC

RNS Number:0732Q
D.C.Thomson & Co. Ld
12 August 2005

FORM 8.3

DEALINGS BY PERSONS WHO OWN OR CONTROL 1% OR MORE OF ANY CLASS OF RELEVANT
SECURITY
(Rule 8.3 of The City Code on Takeovers and Mergers)


Name of purchaser/vendor * D.C. THOMSON & COMPANY LIMITED

Company dealt in HOTGROUP PLC (THE)

Relevant security dealt in 10P ORDINARY SHARES

If a connected EFM, name of offeree/offeror N/A
with which connected

If a connected EFM, nature of connection # N/A

Date of dealing 12TH AUGUST, 2005



DEALINGS +

Amount bought Price per unit (currency must
be stated)

750,000 18.7p



Amount sold Price per unit (currency must
be stated)



Resultant total amount and percentage of the
same relevant security owned or controlled 5,150,000 2.064%


IS A SUPPLEMENTAL FORM 8 (DERIVATIVE)/FORM 8 (OPTION) ATTACHED? NO


Date of disclosure 12TH AUGUST, 2005

Contact name IRENE DOUGLAS

Telephone number 01382 201534



* Specify the owner or controller in addition to the person dealing. The
naming of nominees or vehicle companies is insufficient. In the case of
disclosure of dealings by fund managers on behalf of discretionary clients, the
clients need not be named.

# See the definition of "connected fund managers and principal traders" in the
Definitions Section of the Code.

+ If disclosing dealings/holdings in derivatives or options, please attach
Supplemental Form 8 (Derivative) or Supplemental Form 8 (Option), as
appropriate.



For details of the Code's dealing disclosure requirements, see Rule 8 and its
Notes which can be viewed on the Takeover Panel's website at
www.thetakeoverpanel.org.uk.

[patricktrfc] 12/8/2005 15:51

Ok Folks , what have we got today?!


A 500,000 "Sale at 18.65 when the bid was 18.5, followed by a 700,000 sale at 18.7 , bid again 18.5

And another at 18.7

I am no expert but

1. For a trade well well above NMS you should get less than bid
2. If these were genuine sales would the price not have dropped?
3. There is something going on --an accumulator (poss MM?) in the background

Due dilligence is meant to have been completed by now, according to the Telegraph so maybe the bid is being finalised??

As usual, I know nothing, but feeling hopeful for some news soon.


P

[kempson01] 04/8/2005 08:55

An article in the scotsman today mentions again this £75m bidding war for Hotgroup:-

JOHNSTON Press is believed to have run the rule over the two motoring titles put up for sale by United Business Media - a pair of assets that could cost as much as £100 million.

Chief executive Tim Bowdler said he had received a sales memorandum for the Exchange & Mart and Auto Exchange magazines, which have been officially on the market for just over a month.

However, he was tight-lipped on whether the Edinburgh-based publisher was now part of the sales process - expected to be fiercely competitive. Both Trinity Mirror and the Daily Mail & General Trust (DMGT) are also thought to be interested.

The auction is likely to start another round of consolidation in the regional media sector, which is also preparing for a bidding war for online recruitment specialist Hotgroup - rated at £75m.

The company - a rare survivor of the dot-com boom - admitted it had received a takeover approach in late June, and the big three of Trinity Mirror, DMGT and Johnston Press are again tipped to be involved. DC Thomson, the Dundee-based publisher, has also been building a stake in the firm.

Bowdler refused to comment on Hotgroup, but added: "It is fair to say that we are developing ways of what we are doing online. So far we have done that exclusively through our own resources, but we continue to look at other ways."

The company's online offering would be significantly enhanced by a move for the UBM titles as well as Hotgroup, as Exchange & Mart is averaging well over five million impressions a month. Johnston already owns car sales sites such as MotorsToday.

[patricktrfc] 02/8/2005 13:42

RNS Number:6214P
hotgroup (The) PLC
02 August 2005




PRESS RELEASE
2 Aug 2005


HOTGROUP PLC ACQUIRES RECRUITMENT PROCESS OURSOURCING SPECIALIST


Recruitment specialist the hotgroup plc today announces the acquisition of
Profiles Resource Management Ltd (PRM) for #750,000 (1) in a cash buyout. PRM
provides outsourced recruitment services (2) to some of the UK's leading
employers. This acquisition adds a new capability to the hotgroup's services,
representing a strategic move into HR managed services which will complement its
existing online and traditional recruitment capabilities.

Recruitment process outsourcing is experiencing rapid growth (3) and the
acquisition of PRM builds on the hotgroup's strategy of deploying technology to
increase efficiency in the recruitment process for employers. The Baird report
on HR outsourcing points to the trend for businesses to focus on their core
business functions and to outsource routine, labour intensive HR processes to
external specialist companies like PRM.

Sue Brooks, an existing Director and 50% shareholder of PRM will join the
hotgroup as Managing Director of PRM. She was a founding member of PRM in 1999.
For the year ended 30 September 2004, PRM recorded turnover of approximately
#977,000, a profit before taxation of approximately #110,000.

Commenting on this acquisition, Tony Reeves, Chairman and Chief Executive of the
hotgroup said:

"The acquisition of PRM moves the hotgroup forwards into a rapidly growing area
of the recruitment industry - outsourcing, and adds a further source of
competitive advantage. We intend to use our existing technology to enhance the
PRM model in line with our strategy of combining technology and the internet,
with traditional recruitment services to offer clients the most effective
recruitment solutions. We expect this acquisition to be earnings enhancing
during 2006."

(1)The aggregate consideration payable is up to #754,000, of which #525,000 will
be paid in cash on completion of the acquisition and the balance payable when
certain profit targets are achieved over the 12 month period immediately
following the completion of the acquisition.

(2)Outsourced recruitment services include:

1. Bringing recruitment "in-house" for companies, rather than relying on
external third parties
2. Locating our resources on-site with the client in an outsourced
capacity
3. Using technology, in particular the internet, to increase efficiency in
the hiring process
4. Developing strategic hiring models and talent pools to meet future
business needs
5. Direct hiring strategies to reduce costs and time per hire and to
promote an employer brand
6. Resourcing the employer's recruitment function to minimise fixed costs
and maximise scalability and flexibility
7. HR consultancy, including recruitment process design and training

(3)Baird M&A Analysis, 2003. Human Resources Outsourcing - Gaining Traction
Fast...

Press Enquiries:
Chris Herrmannsen [phone]
the hotgroup PLC
James Hogan / Helen Barnes [phone]
Brunswick Group LLP

[mdchand] 01/8/2005 22:33

patrick - admire your balls but can see your logic. will also take speculative position later this week.

[patricktrfc] 01/8/2005 14:45

18.69 to sell......still rising, due dilligence by three possible suitors in progress, bid expected in mid August....

The chief exec said he would not sell it cheaply....three bidders and £75m price keeps getting mentioned as a fair estimate (30p a share 50% up on today)

I am maxed out on this stock (probably too heavily but I like risks)please do your own research, good luck either way

P

[patricktrfc] 29/7/2005 15:25

Nice buys going through, 200K shares at a time. Will be expecting news soon??

P

[kempson01] 29/7/2005 08:52

Looks like Trinity Mirror are favorites according to this article:



They have £1bn availible for acquisitions, lets hope they spend most of it on Hot Group!

[patricktrfc] 24/7/2005 20:34

Domestos

Thanks for the info

P

[domestos] 24/7/2005 18:19

Big article:

[patricktrfc] 14/7/2005 16:01

Still think they are....let's see what the weekend press brings??


P

[mdchand] 14/7/2005 15:15

i thought the mm's were picking up the stock as there optimstic about a takeout north of 20p?

[patricktrfc] 14/7/2005 12:55

Mdchand

More importantly, who is buying this stake?


P

[mdchand] 14/7/2005 11:51

anyone - can someone explain to me why framlington as a major shareholder and no doubt privy to the bidding situation is continually selling its stake?

[kempson01] 13/7/2005 13:50

This was in the Times today:

Hot Group, the recruitment consultancy that last month admitted to a bid approach, firmed ¼p at 17¾p as DC Thomson, the Scottish newspaper publisher, declared a 1.4 per cent stake.

[patricktrfc] 13/7/2005 08:30

Up today too!.......

[patricktrfc] 12/7/2005 09:36

Up today.....

[patricktrfc] 11/7/2005 15:25

200,000 sale and they move the offer down, but not the bid.....can't understand this share at all!


Oh well - roll on 25p next week


P