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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Lookers Plc | LOOK | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 129.80 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 129.80 |
| Top Posts |
|---|
Posted at 29/8/2023 09:43 by jaf111 The Board has declared an interim dividend of 1.00p per ordinary share which will be paid on 8 September 2023 to shareholders on the register at the close of business on 25 August 2023. |
Posted at 17/8/2023 11:03 by cornishman33 Or maybe notDividends If any dividend, distribution or other return of value is announced, authorised, declared, made or paid in respect of Lookers Shares on or after the date of this announcement and prior to the Effective Date, Bidco reserves the right to reduce the Increased Offer consideration by the aggregate amount of such dividend, distribution or other return of value. In such circumstances, Lookers Shareholders shall be entitled to retain any such dividend, distribution or other return of value announced, declared, made or paid. |
Posted at 27/7/2023 09:33 by lignum Following on from Itisonlymoney's comments (he may have some valid points as this is obviously a very murky industry) Cinch would only block the deal if either (a) it expected a higher offer from elsewhere (US rumours etc) or (b) LOOK's value to Cinch / Constellation is worth more than 130p by virtue of how LOOK integrates into its own business model by being a distributor of BCA cars.If (a) then happy days. If (b) then Cinch / Constellation see the acquisition of LOOK as a threat as they may lose a major customer or have reduced pricing power which threatens BCA margins. Constellation probably aren't in a position to buy LOOK as they already own Marshalls, BCA and Webuyanycar. They are probably happy with the current situation but if they were to block higher bids this might invite some investigations into the competitive structure of the used car market. If Constellation are trying to corner the market by blocking competition bids hopefully someone somewhere might take notice. |
Posted at 27/7/2023 08:25 by daveme Interesting the market is not convinced the bid will succeed, with LOOK only trading around 124p. With only 11% of shareholders currently agreeing to the new offer and no word from Cinch it doesn't look great. However, if Cinch doesn't agree then it will mean they believe LOOK is worth more to either a new bidder or possibly themselves.I'm not convinced 130p will be the knockout blow that some here think. Buckle up! |
Posted at 26/7/2023 20:49 by gargoyle2 iTisOnlyMoney, you're clearly short LOOK at the moment, which is fine, each to his own. However, your comments about Constellation's motives, position in the market, reasons for not wanting to see LOOK get taken over, etc. don't seem to make sense to me when they clearly gave an LOI to vote in favour of a 120p deal. Unless they have had a change of corporate strategy since then, the only reason I can think of why they suddenly change their mind is that they think/know that a higher bid is on the way or they are hoping to extract a hugher price from the current bidder. (Surprised by the way that you weren't aware of the Constallation LOI -- it's all there in the RNSs.)Good to see the share price rising towards the close today, with the court meeting scheduled for tomorrow. |
Posted at 26/7/2023 13:42 by riverman77 Yes 120p was a low offer in my view - the company is probably worth north of 150p, which would put it on a PE multiple of just over 10 - hardly expensive. On top of that you have solid asset backing. I believe one of the brokers has a target of 185p. I certainly wouldn't use dividend yield as the main valuation measure. |
Posted at 26/7/2023 11:24 by riverman77 No idea if another bid will come in, but pretty confident this is worth a lot more than current price and that value will eventually come out. Property and cash alone are worth 92p.I really wouldn't compare a company's dividend yield with what is available in a bank account - shares allow you to benefit from earnings growth and (in this case) a potential re-rating. You're obviously not going to buy this for the dividend yield. |
Posted at 26/7/2023 11:14 by itisonlymoney what's the outlook for car sales in the UK? is it similar to houses? everyone needs a home, and a lot of people need a car, but if finance costs are going up, cars get more expensive so people keep the car they've got for longer. leasing is a big driver of car volume but if we get a recession, will that slow down? imo, this could easily drop back to the 80s.look at all the major holder notifications and the share price most are reducing long positions. jefferies is now fully hedged with shorts just ahead of long and can sell down its £9m holding without loss. |
Posted at 26/7/2023 11:08 by itisonlymoney what makes you think there will be another bid? the major shareholder who rejected the bid owns car sales companies and isn't in the business of selling them. dividend yield is 3%. you can make more in interest in the bank than holding this share. |
Posted at 25/7/2023 16:35 by neo26 Look at pdg, they recommended rubbish offer but hedin made them refuse as they wouldnt accept theirs.Now look where pdg are trading. 19p.... |
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