Melrose Industries Share Discussion Threads

[meanwhile] 13/4/2018 00:27

I think vultures go for wounded prey also, like the condition of GKN in January.
The end result was determined largely by speculators, not disillusioned GKN shareholders, who found that they could maximise their gains if Melrose won.

As for the Mail and the Sun, they are read by many people. Are these gutter people?
I see these newspapers being read by factory workers, tradesmen, builders in their morning tea break. Are they all prone to posturing?

We're all in the gutter my friend, trying to make money at somebody else's expense. The delusion is thinking that others are, but you're not.

[yertiz] 12/4/2018 23:50

Melrose took an opportunistic approach to take over GKN, their well timed stealth tactic sealed the deal. I still maintain it was cheap as chips - surprising that no one else stepped in - perhaps the thought was Melrose offer was fair, plus current holders in GKN were perhaps disillusioned with the many directions they were taking.

Vultures feed off carrion, no way could GKN be described as dead meat, unlike the Daily Fail whose campaigns and posturing have dragged down what used to be a fairly conservative (small 'c') publication to something lower than the Sun, and that's the epitome of gutter press.

In the grand scheme of things, newspapers are at the end of their useful days, only reporting their 'fact' and opinion to make them stand out from the competition. DM's Crossword is rubbish too.

[meanwhile] 12/4/2018 22:46

I believe the Daily Mail were correct in referring to Melrose as 'Asset Strippers'.
See Post 3363 and make up your own mind from the current understanding & usage of this term.
As for 'City vultures' I'm less sure of its applicability to Melrose, except that finding a suitable candidate for Asset Stripping requires a bit of 'vulturing' and the manner of the attack in this case was also similar.

[meanwhile] 12/4/2018 16:49

Another interesting and informative day on the board, plenty of flow and counterflow of data and argument , although of course, with high pressure filtration employed, I only see some of it these days.

With the compliments passing between Minerve & myself today, you could be forgiven for thinking we may be planning a holiday together. Well this is just not true, although I must admit we have discussed meeting for dinner, in Paris probably.

And Yertiz, given the valuable content of your posts, I wouldn't filter you for all the tea in China.

[minerve] 12/4/2018 14:37

You know, I had impressions that Melrose might attract a sophisticated investor but this thread now leads me to think the complete opposite. LOL

MEANWHILE and graham burn the ONLY exceptions.

[yertiz] 12/4/2018 14:33

Found the 'information' regarding Airbus' CEO throwing his toys out of the pram. Mostly covered by the Daily Fail, though Sky and Independent have had a go covering the story. Markets seem nonplussed and view Tom Williams' comments as no more than 'that's what he would say, wouldn't he'?

To see Melrose described as City vultures by the Fail is no more than pots calling the kettle black - oh, and making a news story to fill their pages that is nearly a month old doesn't do their credibility any good at all - what little is left, of course. Smacks of desperation and why the markets are little affected today.

Good old Daily Mail - been a heap of poo since the Zola Budd campaign days.

And Meanwhile, if you don't like my little roundups for the day you may as well filter me too.

[minerve] 12/4/2018 14:11

The trading granny. LOL

[bouleversee] 12/4/2018 13:12

Meanwhile -

And did you read Alistair Osborne's column? He says that they are in line for £285m from GKN but to get all of that they would have to double the value of shares issued to buy GKN: an extra £6.5 bn. which, whatever their talents, he says looks unlikely, and they've got to add that £1.4 billion within 2 years to get anything. What's the betting on that one?

In the end, I opted for maximum shares which would give me 10,611 shares if I got the lot so at 30p that's £3,183.30 which is just over 14% up on yesterday's close; not bad for 2 years, I suppose, if it materialises, but not outstanding either if that were all.

Doesn't compare with the increase in value of VCP, one of my AIM shares, in the two years after they came under new management and more than paid off my purchase costs with a special dividend and the massive value added in the following years. However, there have been no further payouts there; all going into further acquisitions.. I'll have to wait and see what the future holds.

Thanks to all who helped me come to a decision yesterday.

[meanwhile] 12/4/2018 12:47

Losos.

Very interesting & very frank. You're a good fellow.

I've only used the filter for about a week now, on 2 people, and I also took it off briefly yesterday before quickly realising why I'd applied it in the first place.

[losos] 12/4/2018 12:34

MEANWHILE - "Why don't you just filter out the contributors who offend you?"

In fact I have done, but always willing to give people a chance when there was talk of 'burying the hatchet' I unfiltered, big mistake, within minutes I put him back on filter haha.

Whether I agree with your posts or not you've always presented them in a polite manner so I have no need to filter you. Numbers are important of course but I was never good with them, I have taught myself the basics, and try to get a 'feel' for what posters like yourself are saying, others of course have different views.

I do get the fact that RI's are better for shareholders (especially the PI's) but also think I can see why MRO didn't go down that route this time.

Hey ho, IMO it's pretty much all done and dusted, just have to wait for the final unconditional numbers, and see what the future holds. Now where did I put that crystal ball ;-)

[minerve] 12/4/2018 11:46

Money for old rope.

[meanwhile] 12/4/2018 11:16

From the Times article today :-

"Melrose bosses cash in even without GKN.
The annual report shows that Melrose has set out its next long-term incentive plan for the directors, which covers 2017-20. Sources say that they could start to reap large rewards if they add another £1.4 billion to the value of the company, which, after the GKN deal, will have a market value of about £10 billion."

Wow. "If they add another £1.4 billion to the value of the company".
That's 30p on the share price.
We'll all be getting rich then.

[meanwhile] 12/4/2018 10:07

I had intended to comment more on the Morning Report from Yertiz, but it's so ridiculous that it's just not worth the effort. I'll pick out just one sentence :-

"What are Airbus up to now? I haven’t seen much about that aspect but they appear to be a union driven outfit (typical French) without having a great deal of business sense."

That says it all.

[yertiz] 12/4/2018 09:33

Morning all. Another day, another dollar (well some of us still graft for a living).
Minerve still casting his filth and hyperbole on here? Thought he would have sold up and got some life back by now - a seriously flawed character if ever I saw/heard, and I’ve experienced a few.

What are Airbus up to now? I haven’t seen much about that aspect but they appear to be a union driven outfit (typical French) without having a great deal of business sense.
Weather in Kernow set fair today but I don’t have a dog to walk - pressures of work preclude pet responsibilities and ownership unfortunately.

Tip of the day : international greetings.

Well done with Playtech, B+, market has taken a shine to today’s announcement. GLA

[brexitplus] 12/4/2018 06:58

Morning all. Seems to have been some fun here while I was getting my beauty sleep.

I see Airbus are still playing games.

Yertiz. I forgot to mention I am a long term holder of Playtech, who today have announced they are buying Snaitech in Italy. Performance has been excellent overall with good dividends.

Losos. Hope your Newfoundlands are doing well. My niece and her chap got their Chow Chow in November last year as a puppy and it is now huge and growing. Lovely, good natured dog.

[meanwhile] 12/4/2018 00:12

Goodnight, everybody.
I hope you have pleasant dreams.

[minerve] 11/4/2018 23:20

gettingrichslow

GKN’s underperformance is only valid if you judge GKN on a narrow set of metrics. Investing is all about achieving financial objectives that match your life objectives. As part of a larger portfolio GKN was suited to the objectives I had and its peer underperformance on margins was secondary to more important characteristics for me. Many funds held the same view. As I said many posts ago, if you understand why funds will openly seek bonds with negative real returns you will start to understand investing and become a better investor because of it. Professionals like to measure variance but I just like to consider underlying operational risk, financial risk and long-term shareholder value.

[gettingrichslow] 11/4/2018 22:59

Meanwhile, your post 3373 has a major miscalculation in it I'm afraid. You have not taken the value of the 'rights' into account. The price of MRO after the Nortek rights issue was indeed c.150p but the rights themselves had a value that you have to factor in to the calculation. If you didn't take the rights then they lapsed and you got a payment. So it's very misleading to say that the 150p can be compared to the 95p take up price. This is a common mistake to make but is exactly the sort of thing you are quick to lambast others for missing...