Melrose Industries Share Discussion Threads

[sogoesit] 27/3/2018 09:22

Lies, damned lies and numbers!

[brexitplus] 27/3/2018 09:12

Meanwhile. We are still waiting for your analysis of the numbers!!!

[sogoesit] 27/3/2018 08:10

Here are the PoUs:

[sogoesit] 27/3/2018 08:02

Have GKN received a letter from Greg as well about Driveline and its employees being sold down that big river, the Atlantic?
Or do they get away if not Scot free, American free?

[brexitplus] 27/3/2018 07:35

RNS. Letters with Greg Clarke. Excellent response from Simon Peckham

“Publication of letter to the Secretary of State for Business, Energy and Industrial Strategy

Further to the announcement made earlier today on behalf of the Rt Hon Greg Clark MP, Secretary of State for Business, Energy and Industrial Strategy, which references and publishes an exchange of letters between the Secretary of State and Melrose, Melrose confirms that it has today written to the Rt Hon Greg Clark MP, addressing all of the points raised in his letter dated 26 March 2018.

A copy of both letters has been published on the Melrose corporate website:

hxxp://www.melroseplc.net/investors/proposed-acquisition-of-gkn-plc/

Both letters have also been made available via RNS. Click on, or paste the following link into your web browser, to view the associated documents.

Letter from the Rt Hon Greg Clark MP to Melrose:



Letter from Melrose to the Rt Hon Greg Clark MP:

[cisk] 27/3/2018 03:23

That's a very kind offer meanwhile, but you're probably best served sending it to folk who are more in need than I. But I appreciate the thought!

[meanwhile] 26/3/2018 23:58

Oh, getting, how interesting your posts are. Keep them coming.
Would you like a signed photo of my wallet?

[cisk] 26/3/2018 23:53

Gettingrichslow, I am still here and will continue to hold for another 10 years plus or until I lose faith in the MRO management.

I'll only post when I feel I've got something to add, and forgive me I don't have the bandwidth to engage in the chit chat that others do.

What I will add is that MRO have been long been looking at an aerospace acquisition. I corresponded with vice chairman some years ago and mentioned Hampson industries - he said that they had a brief look at them and passed.

So all the talk about whether they are overpaying etc, or they don't know automotive / aerospace - it's just that - talk. They know exactly what they will do, if successful. That's why they are the board and paid a lot of money - to spot opportunities that we don't and make our money grow.

It's nonsense thinking that we could run the company better, or have an inside track on whether this acquisition will make the numbers work. We're of course entitled to our views, crunch numbers etc but at the end of the day we're not running MRO.

MRO will walk way if the numbers don't stack up - just look at the bid for Charter in 2011. They refused to overpay.

[gettingrichslow] 26/3/2018 23:02

It's also quite interesting to look back at some of the posts from the very start of this forum. What happened to Melton John I wonder? And where is Cisk who says he/she will hold got another 10 years. Then there is someone called Meanwhile who got a bit worried nlin March 15 and posted this:

Although I'm still a supporter, I do get the feeling that the best days might be over and that Elster is a example of how difficult it is for the MRO model to make money fast these days.
Mike100150 says "Elster has been a great acquisition so far". Has it though?
I haven't all the share price figures & data since the acquisition & rights issue in June 2012, but I can't recall making a lot of gain since then, apart from the immediate benefit of the rights. And this despite raising profits at Elster by 2/3 over the 2 years.
And the p/e is still around a high 17. MRO must have paid a hell of a premium for Elster and that needs to be recovered before any benefit flows to us.
The days of finding cheap ragbags like FKI may be over.

[gettingrichslow] 26/3/2018 22:56

One of the things I find interesting about these forums is that we don't really know much about each other - age, gender, experience, career, geographic location etc. Even scale of our holdings. No-one really has a clue. Yet a lot of assumptions are made. Apparently I live in the south and am male for example...

[meanwhile] 26/3/2018 22:32

Oh, you nasty thing.

[brexitplus] 26/3/2018 21:49

Getting..

Meanwhile has the figures but no analysis or comment. His original thought is empty!!!!

[meanwhile] 26/3/2018 21:48

getting,

what fettle, lad?

what's this 'glass half empty' thing. Not another 'skin in the game' term is it?
I never use these communal terms, preferring original thought.

Here, in the north, we rarely use a glass, we drink mainly mugs of tea, rather than the claret you fellows drink.
But on the full/empty thing, I'm more concerned whether my wallet is full or empty.
It's fairly full at present but not to the gross excess I strive for.

[brexitplus] 26/3/2018 21:18

Getting ...

Sclater is reported as saying "long-only shareholders are mostly supportive of existing management” before retracting. Of course, we don’t know how many and what percentage of shares they held when Sclater commented. They could mostly be small holders. Or it could be 51% upwards. A carefully crafted quote.

Since then GS and BoA have notified their 9 and 10% holdings to GKN, shown in RNSs late today. Both have substantial holdings in Melrose, GS very recent.

Make of it what you will.

[gettingrichslow] 26/3/2018 20:41

Meanwhile, B+ makes a fair point, you are always saying you need to see the numbers. Are you any more positive today or are you still 'glass half empty'?

[brexitplus] 26/3/2018 18:34

Meanwhile. You are the one that wants facts and numbers. You tell us.

What I can say is neither GS or BoA were in the top 10 GKN shareholders last week and are now 1 and 2.

[meanwhile] 26/3/2018 18:09

Good numbers. Any idea what it all means?

[brexitplus] 26/3/2018 15:46

Yertiz, a bit like me. Rugby, cricket, plus hockey and squash at uni. Went skiing once, hurt my leg and missed out playing rugby on a Paris tour. Always thought tennis a game more for girls!!!

Ever played squash doubles. Dangerous!!!

Totally agree about win/win.

JUST FOR MEANWHILE - FACTS

It appears GS in addition to 3.13% Melrose now have over 9% GKN !!!!

And Bank of America 5.5% Melrose and 10% GKN

Blackrock 7.82% Melrose and 5.8% GKN

Deutsche Bank 3.96% Melrose and 5.35% GKN

York Capital 3% GKN - M&A arbitrage Company

[yertiz] 26/3/2018 15:37

Hockey, rugby, football, squash, cricket and ski-ing were my sports, sadly now more of a spectator than participant. Golf - last played 5 years ago, too expensive. Not the course fees, but the number of lost balls! Tennis - could hold up my end and knock a few balls around (squash and hockey give you the hand/eye/ball co-ordination) but it never tickled my fancy!

And you?

[brexitplus] 26/3/2018 15:12

Yertiz, do you play golf or tennis?

[yertiz] 26/3/2018 15:05

Your point is, exactly? We've had interesting discussion in the past, but I sense all is not well in the Meanwhile camp. As I have repeatedly said - win / win either which way, but I still think this is a narrow coup for MRO, perhaps this 'win' isn't enough for you?

[meanwhile] 26/3/2018 14:34

I often wish share dealing was 'Match Play' as in tennis & golf. I'd love to be drawn against you 2 fellows.

"Yertiz- Another strong statement from Melrose this morning with mention of Nortek disposal being brought into the equation. Plus the increased holdings by Merrill Lynch (up from 5.22% to 6.5%)last week, all in all looks like the fight is won."

"Brexitplus - Yertiz, you are a very sensible poster. I would be happy for the GKN deal not to go through, not because I don’t think Melrose would make a huge success of it, but I too am greedy for the bonanza from Nortek and Ergotron."

[meanwhile] 26/3/2018 14:13

I think all I need is a ‘management mentoring course’.