Buy
Sell
Share Name Share Symbol Market Type Share ISIN Share Description
Mears Group Plc LSE:MER London Ordinary Share GB0005630420 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -1.00 -0.8% 124.00 123.50 126.00 129.00 124.50 127.50 102,933 16:35:16
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 869.8 28.4 23.1 5.4 137

Mears Share Discussion Threads

Showing 1901 to 1923 of 2200 messages
Chat Pages: 88  87  86  85  84  83  82  81  80  79  78  77  Older
DateSubjectAuthorDiscuss
13/9/2010
11:44
Excellent news whilst on my hols about CNT going into administration. Today's FT notes that MER are taking great care about the proposed acquisition of contracts from CNT, which is good to see. MER are paying almost nothing for them, but in the usual cautious MER style are making sure that the contracts won't be albatrosses. Exciting times - hopefully there's about to be a Morgan Sindall-style jump in the share price when the deal is formally announced: http://www.ft.com/cms/s/0/03ee3b60-bec3-11df-a755-00144feab49a.html "Connaught agreement with Mears unclear By Alistair Gray Published: September 13 2010 00:18 | Last updated: September 13 2010 00:18 Uncertainty has emerged over Mears' agreement to acquire contracts from Connaught, its collapsed rival, as the social housing maintenance group scrambles to finalise the details. Investors in Mears had expected to be told on Monday morning that the company picked up about eight of the former FTSE 250 company's contracts after Bob Holt, executive chairman, said on Friday night he had sealed the deal. Although the agreement still stands, it appeared on Sunday night that Mears was unlikely to make an announcement when the stock market reopened. It was not clear whether or not KPMG, which was appointed administrator of Connaught last week, intended to do so. A person familiar with the matter said Mears was unlikely to update the market until it had "properly determined the various constituent parts of each contract" and had "a detailed understanding of the cost structure of each contract". The agreement was complicated by the fact that Mears was expected to re-employ some of the 700 workers made redundant by KPMG, people familiar with the matter said. Mears is expected to pay a nominal fee to take on the work, which involves about 1,000 workers, although it is not clear which contracts it has acquired. Before its collapse, analysts had raised concerns about how Connaught accounted for its contracts. They were particularly concerned about "mobilisation costs", or expenses incurred at the start of a contract. Connaught had drafted in Deloitte to review its accounting practices at the company, which was audited by PwC since 2006. Mr Holt said on Friday that the contracts Mears was acquiring did not include work for Norwich City Council. Connaught had won a £125m five-year "integrated services" contract with the council but it became subject of a dispute."
rivaldo
12/9/2010
22:03
what a whole 7% upside?
cambium
12/9/2010
14:08
All bodes well for Mears share price on monday... They're doing well anyway without anything of CNT.. £3 is my short term target
tom.b
12/9/2010
07:59
This is well worth noting from the FT "Connaught had blamed its difficulties on public spending cuts as councils deferred projects to improve their social housing stock and said that they had been exacerbated by pressure from suppliers. Supplier concerns had risen after it emerged that Deloitte had been drafted in to review the company's accounting practices. However, Mears was one of the most vocal companies in distancing itself from the woes of its rival. Little more than an hour after Connaught issued its first profit warning in June, Mears said it had not experienced similar difficulties. " here is the link to the full article http://www.ft.com/cms/s/0/2894a8ea-bd34-11df-954b-00144feab49a.html
yoyoy
12/9/2010
07:53
Teelegraph "Mears is paying a nominal fee to acquire the repair and maintenance contracts, it is understood, and is also in talks about snapping up a contract with Norwich City Council, one of Connaught's biggest clients. Bob Holt, chairman of Mears, said his company was "delighted" with the progress of talks with KPMG, the administrator to Connaught's social housing division. In addition, a number of Connaughts's customers are believed to have independently approached Mears about taking on work. "
yoyoy
11/9/2010
22:13
Today's FT has Mears buying some contracts from Connaught,and the Norwich contracts is not in the package
nfs
11/9/2010
21:03
If Morgan Sindal is a whale @ £305M market cap, Mears @ £237M is some sprat!!
mdrans1
11/9/2010
13:07
problem is Morgan Sindal is a strong player, stronger and bigger than mears. A sprat and a whale, prepare for battle
dnfa1975
11/9/2010
12:08
From today's Daily Mail >>>>>>>>>>>>>>>>> More than 2,500 jobs have been saved after building firm Morgan Sindall snapped up the majority of contracts from failed social housing maintenance group Connaught. And a further 1,000 positions are likely to be secured this weekend as Mears ties up an agreement to take over eight maintenance deals. Morgan Sindall is not taking on Connaught's 12 biggest contracts, including its largest deal to maintain housing stock for Norwich City Council, because the company considers them to be loss-making. The business spent £28million to buy around 100 contracts from Connaught, which it hopes will generate £200million a year for the firm. The contracts, which account for 80 per cent of Connaught's deals, will be transferred directly into Morgan Sindall's affordable housing division, Lovell. John Morgan, executive chairman-of Morgan Sindall, said his firm only took on 80 per cent of Connaught's contracts because he felt the rest were badly priced. Housing group Mears, which was also in the running for the contracts, said it is continuing to negotiate to take on some work. Chairman Bob Holt said: 'We've already picked up a number of contracts with local authorities, who have approached us directly and we will be looking at picking up the remaining contracts next week.'
copyright
10/9/2010
23:29
they acquired "the majority". I guess we'll have to wait and see
turborock
10/9/2010
13:27
Does anyone know if Morgan Sindall has left anything for Mears or have Mears already cherry picked up some contracts isolated by Connaight's downfall. Rgards MW
miss womble
09/9/2010
21:20
hopwe to get a slice at 250p
dnfa1975
09/9/2010
00:36
Mears are going to get a premium and uplift on these new contracts before they take them on... Bob Holt don't take wild chances...£3.00 sooner than we think or hoped!
tom.b
07/9/2010
23:58
Rivals circle as Connaught confirms administration Tue 7th September | 21:54 Rival contractors are vying to take over Connaught jobs as the firm confirmed its fall into administration. Councils and housing associations will mobilise plans to replace the ailing contractor as accountant KPMG steps in to run the company Firms like Mears, Rok, Morgan Sindall and Willmott Dixon will be sounded out by housing bodies as the future of Connaught and its 10,000 workforce remains uncertain. A Connaught Stock Exchange update said: "Following extensive discussions with the Group's secured lenders, it is now clear that sufficient support would not be extended to the Group as a whole to enable it to continue trading as a going concern. "As a consequence, the Board is saddened to announce that it is in the process of appointing partners from KPMG as administrators of Connaught plc and its subsidiary, Connaught Partnerships Limited, which comprises its Social Housing Division." The group's compliance and environmental divisions are not being placed into administration and will continue to trade normally. Accountants at KPMG will now run Connaught while they seek to find a buyer for the business. Contracts could be sold-off individually as rivals circle the remains of the firm. John Morgan, chief executive of Morgan Sindall: "Clients have been approaching us over the last few weeks, but there has been a sharp increase in the number of approaches today." Bob Holt, chairman of Mears Group, said: "We are watching the situation carefully and we are ready and willing to pick up work if it becomes available, we have been approached." Another contractor told the Enquirer: "Now this has been confirmed it will be a case of talking with KPMG and seeing what contracts are up for grabs." http://www.constructionenquirer.com/2010/09/07/rivals-circle-contracts-as-connaught-confirms-administration/
celeritas
07/9/2010
20:52
Contracts will have to be renegotiated but I also expect someone wil have to step into the void left by cnt pretty quick. MER and ROK are the two who stand to gain the most from Connaughts demise.
celeritas
07/9/2010
17:30
Don't think Mears will take on any work whose margin doesn't match their objectives
phillis
07/9/2010
17:18
Mears was the first named alternative company on Radio 4 just now. Phillis - as long as Mears does its background work. Could we see councils having to pay more for the work?
yoyoy
07/9/2010
17:14
Mears won't have to bid CNT will be in default because of their financial condition and customers will be begging for Mears to take over
phillis
07/9/2010
14:32
yoyoy - Mears is also a likely bidder for parts of CNT. I suspect the administrator is not going to be able to sell CNT in its entirety because of the problems with particular contracts, it's much more likely to be sold piecemeal.
daz
07/9/2010
13:34
Major competitor in disarray Buy Buy Buy!
phillis
07/9/2010
13:33
Daz, Only if it closes its operations - there is always the possibility that someone will buy them on the cheap
yoyoy
07/9/2010
08:52
gonna fly now imho
dnfa1975
07/9/2010
08:24
Should benefit from CNT's administration announced this morning. I'm surprised it hasn't moved up more.
daz
Chat Pages: 88  87  86  85  84  83  82  81  80  79  78  77  Older
ADVFN Advertorial
Your Recent History
LSE
MER
Mears
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20200812 04:30:53