Melrose Industries Share Discussion Threads

[bscuit] 23/3/2018 23:14

Been watching.
Unhappily MRO to lose.
Closing price on day of announcement down15% on previous day close.
GKN might also drop.

[gettingrichslow] 23/3/2018 22:39

Grahamburn, ok you make a compelling case for not declaring. But how about declaring what you would be declaring if you were not at risk of having to have dinner with Minerve? It won't actually count so you won't have to have dinner with Minerve.

Meanwhile, your excuse is null and void. There is no 'chosen night'. As you've already declared I'm afraid you will have to have dinner with Minerve on a night that is chosen by Minerve, if you lose.

[minerve] 23/3/2018 22:35

"other on the benefits of an ordered capitalist system for ALL stakeholders and the population at large, as without wealth creation it's impossible to have a welfare state to support those less fortunate or able."

If his idea of an 'ordered capitalist system' is what we have now can we use whatever is left over in MEANWHILE's wallet to send grahamburn to The Priory.

[sogoesit] 23/3/2018 22:00

I thought she was renowned for her legs?

[meanwhile] 23/3/2018 20:48

If I'm the biggest loser, I'm unable to dine with Minerve on the chosen night, for various reasons.
In which case my booby prize will be dinner with Angela Rippon.

[grahamburn] 23/3/2018 20:45

gettingrichslow.

I wouldn't consider declaring for three reasons:

1)
There is no way of predicting the outcome at this stage (and, therefore, relative share prices post the vote) as actual evidence of voting intentions is too scanty. (That isn't to say that the mounting evidence on the best outcome is becoming clearer with every RNS.)

2)
A signed photo of Meanwhile's wallet has little appeal to me - the contents, however, may be more enticing especially if that is sufficient to send Minerve on two courses: one on discussing issues in a polite and reasoned manner and the other on the benefits of an ordered capitalist system for ALL stakeholders and the population at large, as without wealth creation it's impossible to have a welfare state to support those less fortunate or able.

3)
I dare not risk losing as it would be a waste of good food and drink as there would be the potential that all of it would get thrown over the (forced) companion rather than consumed due to frustration that he/she hasn't learned anything from the suggested courses in (2) above.

[yertiz] 23/3/2018 19:12

Win or lose I’ll make my donation anyway, if only to forego the ‘pleasure̵7; of a certain dining companion😳

[grahamburn] 23/3/2018 15:09

Anyone have access to the MergerMarket site to which the latest RNS refers. Reading between the lines it seems that there may be a "dirty tricks" operation in play.

[losos] 23/3/2018 13:37

MEANWHILE - "Would you include chickens in your 'love triangle' with cats & dogs?
They have only 2 proper legs but 2 others were transformed into wings by some process I don't understand called 'evolution'."

Yes, I quite like chickens, behind us we are very lucky that it's all paddocks and horses, and the owner recently installed some chucks. He gave me some eggs this week, so tasty compared to the supermarket ones.

[meanwhile] 23/3/2018 11:21

I doubt this is a market correction, which is generally seen as a readjustment to a market which has moved strongly upward, or downward. This could be a revaluing on fundamentals, particularly for companies with international trade.
Melrose are exposed, I understand, on raw materials & components but not on end markets. GKN are exposed right across the board.
Another reason for Melrose to pull out and go for something they better understand & can control.

[yertiz] 23/3/2018 10:06

Sorry to mislead you B+, a quality check on my forecasting tools has shown a flaw in the teabag, the crystal is only pressed glass, and a calibration error on the dartboard meant the triple 20 was off kilter by 4 nanometers to the right. All in all, the result is we will win the World Cup but the Russians will hold the team hostage until we withdraw our nerve agent accusations and Ms Stevens is invited to become Melrose's next CEO.

They can keep the team.

[brexitplus] 23/3/2018 09:52

Yertiz

As far as the quarter finals?!! With our present performances in cricket and rugby that would be a huge triumph.

Yes, I’ve a bit of cash standing by but want more of a correction. Happy to bide my time.

[yertiz] 23/3/2018 09:27

My coin toss tells me this is a win for Melrose, but on the other hand, my PG tips, crystal ball and blindfold darts suggest we are going to lose in the WC quarter finals.

Markets all down by quite a margin today - looking like a great time to buy!

[brexitplus] 23/3/2018 07:52

Yertiz, yes 3.13%.

What is your interpretation?

When Goldman initiated broker coverage last year it was 270p and I think this year has been 300p.

[yertiz] 23/3/2018 07:29

Goldman Sachs have taken up a sizeable position in Melrose - could mean one of two things!!

[brexitplus] 22/3/2018 19:31

See FT article “Airbus Fires Warning Shot at Melrose Over GKN Plans”.

Very interesting and quite positive.

[meanwhile] 22/3/2018 18:04

Losos,

Would you include chickens in your 'love triangle' with cats & dogs?
They have only 2 proper legs but 2 others were transformed into wings by some process I don't understand called 'evolution'.

[meanwhile] 22/3/2018 17:16

I'm watching the bid price-GKN price gap. It's narrowed again a little today to 25/26p. The tide is therefore turning towards Melrose. Of course we don't know where the actual tide level is (by this I mean we don't know what the gap would be if the market's view was 50:50) but at 25/26p gap I would guess the market still favours GKN.

Of course I could be completely wrong in this theory.

Minerve back to his old course & vulgar self, I see. I wash my hands of him now after all the gentle care and compassion I've shown him.

[yertiz] 22/3/2018 14:21

In any way, shape or form, is this not asset stripping? Presumably those poor dears still holding on to the vain hope GKN will remain as a stalwart 'British' company with ideals to match are as deluded as their management - exactly why Melrose is the best option to set the ship on another, much less catastrophic course. And which is why Melrose will win the war, discarding the upper echelons at GKN very quickly and creating real value in the process.

[grahamburn] 22/3/2018 13:03

GKN do seem to be shooting themselves in both feet on a regular basis with their announcements yesterday and today. Both confirm that their policies, plans and statements are either being made "on the hoof" or they have been misleading the market and the politicians about whether or not they have been discussing mergers or sales in both the recent past or for many years.

In contrast, Melrose have made measured and considered statements. Their announcement today of an agreement with the GKN Pension Trustees is further evidence of their calm approach.

My sad conclusion is that if Melrose do not succeed in securing sufficient support to go unconditional, then I will take an early opportunity to relinquish my long standing (some 10 years) in GKN. Its management lost considerably credibility last year, but the past couple of months has shown their almost total lack of vision. Whether I double back up on Melrose needs careful consideration.

Yet again, The Times Business News Commentary summarises the chaos within GKN very well - not to mention the wonderful double entendre at the end vis-à-vis the Daily Mail's misguided patriotism!

____________________________

Takeover battle

Not more corrections from Anne Stevens. Has someone got the GKN boss’s 70th birthday wrong again — an easy mistake, too, given it’s still listed at Companies House as March 1948?

No, nothing to do as it happens with her official birthday or her real one in December. This time she’s “rebutting Melrose’s misleading statements” — ones the architects of the £8 billion bid didn’t even rebut back, given they stand by all of them.

Anyway, Ms Stevens denies that selling almost 53 per cent of the Driveline business to Dana is “hasty and ill-thought through” on the grounds that GKN had considered a tie-up with the US company “for a number of years”. Presumably, all the time it was denying it had any plans to split up the car and aircraft components group. Neither does she have any truck with Melrose claims it has “adopted many of the ideas” it set out for the aerospace business.

Whatever. Still, it must be news to Melrose that it has “absolutely no plan for the business”. It’s had “absolutely221; the same plan since day one: buy, improve, sell — a contrast to Ms Stevens, who has had a new plan most weeks. On January 18 she was correcting Melrose’s implication that GKN wanted a “hasty break-up” of the business. “This is not the case”, GKN declared, with Ms Stevens insisting “GKN’s current owners should retain 100 per cent” of the upside of its turnaround.

Weeks later she was flogging control of Driveline to Dana and putting the powder metallurgy arm on the block. Tot it up and Ms Stevens will be selling 73 per cent of “group management revenue” and 63 per cent of its trading profit. Or, as the Daily Mail is yet to put it — “Save GKN and keep control of 27 per cent of sales”.

[brexitplus] 22/3/2018 13:02

Good to see you’re out of the bog. Brain constipation? Great humour on your part. I bet if we could locate any of your school chums they would say you were the school bully.