Msb Share Discussion Threads

[stemis] 06/7/2006 08:30

I'm sure you have no more information on what is happening than any of us. However what is interesting is that since the report in the Times on 30th June, there has been no announcement from the company and the share price has jumped by 5%. Not really consistent with a single bidder having walked away.

Although the announcement of 31 March talked about an approach, that doesn't rule out other parties, seeing MSB in play, having approached the company. Quantica may (although may not) have walked away, but that could be because they have been outbid by someone else. Any number of possibilities exist.

[cornelious billy bee] 05/7/2006 20:03

I predicted a walk away, lets hope the takeover has not been to much if a distraction as in the caseof LRG

Regards CBB

[sharw] 30/6/2006 10:20

From the market report in today's Times:

Hopes of an update on takeover talks sent MSB International up 6p to 53½p. However, it is thought that Quantica, the recruitment consultant behind March's original approach, steady at 60p, has walked away from bid discussions, and is instead close to the bolt-on acquisition of a training company.

My comment: the 31/3 announcement was of an approach (singular). If the potential bidder had indeed walked away we should have had a RNS by now.

[1bensons] 29/6/2006 14:33

I think Messrs Flaherty and Browne would sell or swap if the terms are right, and the prospects are good

Don't forget it's pretty much dead money for these guys, and they have no influence over day to day matters, and they are not out of the woods yet

Old saying "safety in numbers"

[stemis] 29/6/2006 12:55

sellers with a combined 50% won't necessarily make a takeover.

In theory no, in practice yes.

[snappy] 29/6/2006 12:35

oh and comments from Harvey Nash at their AGM that things are going well in Europe and US. No mention of UK trading.

[snappy] 29/6/2006 12:31

spiking higher on no reported volume so far ....

delayed trades, big buyer or takeover in the market perhaps?

no broker forecasts available for this year or next

comments by Mervyn King that business capital investment is likely to pickup over the coming years and another BOE'er that low business capital expidenture over the las few years is hard to explain.

tightly held stock by many

sellers with a combined 50% won't necessarily make a takeover.

can't see flaherty and brown bailing out at current prices because they both understand from first hand experience the cyclical nature of the business.

dyor, dyodd and g'luck

[stemis] 29/6/2006 08:40

one seller with 20.63% won't make a sale of the whole thing.

Yeah, but 3 sellers with 45.5% would.

[snappy] 27/6/2006 13:19

one seller with 20.63% won't make a sale of the whole thing.

don't forget that any take-over be it cash, shares or a combination of the two will require a majority decision from the shareholder base and not a 20.63% yea or neah .......

[stemis] 27/6/2006 11:32

Interesting to compare to Watermark (WMK). They announced in their finals on 31 March that they were in discussions with private equity which might lead to an offer for the company. Over the last few days there have been press reports of rumours of a deal about to be signed and the price has moved up sharply.

MSB announced their discussions about the same time.

Hopefully Advanced Value have more than one party involved and are trying to get an auction going. You would have thought MSB was a good bolt on acquisition for quite a few. Maybe (hopefully) the delay is due to trying to squeeze the last few pennies out.

[arthur_lame_stocks] 27/6/2006 11:01

I would guess that ADVARC are going to push hard for a sale. They managed to find somebody willing to stump up cash for Ultraframe and MSB is nowhere near as bad.

[stemis] 26/6/2006 17:38

Indeed, but I guess you can read it either way.

[arthur_lame_stocks] 26/6/2006 16:33

Taking their bloody time over this takeover business aren´t they?

[farsight] 22/6/2006 23:31

Get some oil cornelious.

[cornelious billy bee] 21/6/2006 12:28

12500 at 45p hmmm

[cornelious billy bee] 31/5/2006 11:49

snappy what does msb calss as assets? does it own property? does it have cash?

[snappy] 30/5/2006 10:09

"what 15million for a bunch of contractors?"

The business is worth £10m purely on assets, surely the bunch of contractors, engineers and secretaries is worth a little more billy bee!

:-)

[cornelious billy bee] 27/5/2006 17:09

what 15million for a bunch of contractors?

[snappy] 23/5/2006 11:57

Back to 70-80p then now over the course of the year?

I don't want to see the business taken over too cheaply and I think that the current shareprice of circa 50p is way below what the business is really worth.

Just have to wait and see if any offer comes and in what form (cash or shares or combination of both)

[stemis] 23/5/2006 11:26

Tuesday 23rd May 2006

MSB INTERNATIONAL PLC

AGM and Trading Update

At the Annual General Meeting of MSB International PLC held today, all of the
resolutions set out in the Notice of the Meeting sent to Shareholders as part
of the Report and Accounts for the year ended 31 January 2006 were duly passed.

The actions taken over the past few months to improve operational gearing and
reduce overheads have taken effect, with revenues and profit ahead of internal
expectations and this period last year.

At least they are trying!

Still want them to agree a deal with an acquiror though.

[farsight] 22/5/2006 11:00

Ummm, I sold out of MSB last week. I took a hit on FWY because I wasn't paying attention, and the AGM came with bad news, and what with all the mayhem, I thought I'd sell everything so I could relax for a while. I've just bought some BUR though, for a punt.

[snappy] 19/5/2006 14:00

Extract from the recent LogicaCMG AGM statement

"Following a strong first quarter, we expect 2006 organic revenue growth for the
group to be ahead of last year's 5.3%. We are continuing to recruit in all our
major businesses but the improving market conditions are resulting in a
tightening labour market and inevitably there is increased use of contract
labour to satisfy demand. In 2005, group operating margin on a pro-forma basis
was 7.2% with the first half at 5.3%, reflecting the normal seasonality in our
business. Additionally in 2006, the cost savings from the Unilog acquisition
will largely benefit the second half. While we expect some first half margin
improvement in 2006 over last year, the profile of operating profit between the
first and second halves is likely to follow the normal seasonal pattern.
Overall, our expectations for 2006 remain unchanged."

[snappy] 11/5/2006 12:53

AGM on 23 May

We will no doubt get a trading update with the usual sting in the tail 'market conditions remain challenging/unpredictable' bit tagged on the end.

Judging by what other recruiters are saying at the moment nothing should have changed since the year end result in early April.

Still no forecast from the house broker for this year but I am expecting something North of £1m pretax this year if the cost cutting measures that are detailed in the last annual report are anything to go by.

Peter Browne got a £200K compensation for loss of office - that equates to roughly a penny a share of last years losses and a further penny a share in cost savings from here on in.

If this business gets taken over it is not going to be at 50p a share that is for sure. I still can't see Flaherty and Brown selling their shares at this low price maybe they would take stock in a more successful suitor but only time will tell.

[farsight] 11/5/2006 09:45

I think we're talking about 70p minimum, and more like 100p. This would value MSB at £14m to £20m, which is still an absolute bargain compared to Hydrogen.

[stemis] 10/5/2006 17:41

Hey I'd take half of that - £30M = 150p per share.

It's coming up to 6 weeks since the announcement. Must be getting close to a decision by now.