Phoenix Share Discussion Threads

[jonwig] 01/8/2013 07:01

Hi, Robsy.

I don't think PHNX will lose its independence - it looks as though it's a merger.
Swiss Re wants rid of its subsidiary and PHNX wants size.

[robsy2] 31/7/2013 17:12

delighted at the revaluation , but for the long term investors ( hi Jonwig!)I am hopeful that it stays independent.

Phoenix was set up as the zombie consolidator,I will be miffed if is sold on the cheap.
R2

[zcaprd7] 23/7/2013 18:13

Forcing it's way higher. A merger makes the market reassess value...

[zcaprd7] 18/7/2013 15:31

Approaching the three year high. Good, been patient with this one...

[this_is_me] 15/7/2013 08:02

Finishing on the day's high was impressive showing holders didn't want to 'sell on the news'. It could go higher today.

[philo124] 13/7/2013 09:54

£7+, I wasn't disappointed.

[fenners66] 12/7/2013 15:46

Glad I added some more last week!

[jonwig] 12/7/2013 11:09

Yes, that's a point - if it enters FTSE100.

But in itself I think the most likely outcome will be a 'nil premium' merger.

[aleman] 12/7/2013 10:59

Higher rating because we might enter the FTSE100, forcing income funds/trackers to buy? 8% yield would look out of place in the FTSE100. International income funds are having a hard time finding juicy yield stocks.

[hydrus] 12/7/2013 10:38

Now broken through that one year range looking strong

[this_is_me] 12/7/2013 09:10

It looks like the market likes the idea although we are still in this year's trading range.

[jonwig] 12/7/2013 07:22

"In consideration" = "In payment for it."

OK, I'm hostage to what happens at 8:00, but would rather wait to see how PHNX closes the day.

[jonwig] 12/7/2013 07:20

Why? Surely the data on Digital Look is out of date.

The merged group looks like it's paid for by PHNX issuing new shares to Swiss Re. Why would the notional carrying value of these be significantly bigger than 650p?
The FT article suggests that Swiss re was keen to unload.

I can see the advantage - synergies, reduced gearing. But equally, it took ages for PHNX to rationalise the internal systems of Pearl, etc. before savings began to show.

But an immediate share price premium?

[philo124] 12/7/2013 07:14

The RNS is badly worded "in consideration" of what? Was it drafted in Swiss and they used google translate?

[philo124] 12/7/2013 07:05

Broker Recs on Digital Look show TP from 725p to 900+ so there's got to be a substantial share price rise to get to the average of these.

[skinny] 12/7/2013 07:02

The Board of Phoenix Group Holdings ("Phoenix") notes recent media speculation and confirms that it is in preliminary discussions with Swiss Re Ltd ("Swiss Re") in relation to a possible combination of Phoenix and Swiss Re's Admin Re Business Unit, which if successful would result in Swiss Re taking a minority shareholding in Phoenix in consideration.

There is no certainty that these discussions will lead to any transaction or the terms on which any such transaction might proceed.

Further statements will be made as and when appropriate.

[jonwig] 12/7/2013 06:56

FT coverage, too, including possible scenarios:



Not clear whether there is an immediate premium for PHNX shareholders.

[aleman] 12/7/2013 01:03

hxxp://news.sky.com/story/1114635/phoenix-in-talks-over-3bn-swiss-re-merger

[philo124] 11/7/2013 22:48

I will be disappointed if we don't see £7+.

[wllmherk] 11/7/2013 22:29

I was intending holding long term as an income stock. Not sure what to do now. I would assume the share price will rise substantially tomorrow, or, am I being too optimistic. So this is a proposed merger, not a takeover ?

wllm

[philo124] 11/7/2013 22:23

Well, I sold 50% of my holding yesterday-lol- but was £1500 up + had the divi's.

[wllmherk] 11/7/2013 22:22

what effect is this likely to have on the share price lads ?

[scburbs] 11/7/2013 22:19

Thanks Philo. Good news if it does what they promised - reduced gearing at the right price. Difficult to see how it can be the right price given PHNX's lowly rating unless Swiss Re are prepared to take a risk on a rerating.

[philo124] 11/7/2013 21:32

Well the sub Admin Re are c. same size. 25BN Swiss Francs on digital look.