Shanks Share Discussion Threads

[badtime] 25/5/2004 19:39

is it....why?

[vmax] 25/5/2004 19:06

interesting day tomorrow.......

[verulamium] 23/5/2004 13:54

From today's Sunday Telegraph....

Pennon, the Devon-based water and sewage company, is set to beat Guy Hands, the financier, in the battle to buy the landfill business of Shanks, the waste services company.

The £200m deal would be a bitter blow for Hands, who runs Terra Firma, the private equity firm. Last week it emerged that Pennon had rejected a £1bn takeover offer from Terra Firma, leading Hands to switch his attentions to the Shanks landfill business.

An executive close to Terra Firma said: "It looks like Pennon is going to get Shanks. But it has been trying for a year, and there is a chance something will go wrong before signing, so Terra Firma is keeping a close watch on proceedings."

A successful bid for the Shanks division would double the size of Pennon's existing waste business, Viridor.

Advisers for Shanks and Pennon were working flat out this weekend in a bid to complete the deal before the waste services company reports its annual results on Wednesday.

Pennon will report its results the next day and the two companies are keen to present a united front in their bid to convince the City of the merits of the £200m deal.

Last week Shanks issued a statement to the stock market confirming that talks with Pennon were at an advanced stage. The company added that there was "no certainty" that the offer would lead to a sale.


£200M would make Shanks' debt position look much nicer, and the remaining part (around half of the current company) looking very cheap....

[anv] 18/5/2004 17:51

anyone??????

[anv] 18/5/2004 14:10

price slumping - anyone have any ideas why? :-(((

[swiftnick] 18/5/2004 08:15

WestLB Panmure now rates this as a "buy" up to 155p.

[donnatella] 17/5/2004 11:05

Could you elaborate as I couldn't find anything. thanks

[ntv] 17/5/2004 10:18

long 135.25

[vmax] 17/5/2004 10:08

so was i!....lol

[swiftnick] 17/5/2004 07:41

So Ivo was right!


RNS Number:7284Y
Shanks Group PLC
17 May 2004


POTENTIAL SALE OF SHANKS' LANDFILL ASSETS

Shanks Group Plc (Shanks) confirms that for some months it has been in
discussions with the Pennon Group Plc (Pennon) concerning the potential sale of
its UK landfill and landfill gas assets (Landfill Assets) to Pennon. These
discussions are continuing and are at an advanced stage, although there can be
no certainty that they will lead to such a sale.

During the course of these discussions, Terra Firma approached Shanks with a
view to acquiring the Landfill Assets. After conducting initial due diligence,
Terra Firma wrote to Shanks seeking to impose a number of pre-conditions on its
continued involvement in the process. These pre-conditions included
underwriting its costs and entering into a period of 8 weeks exclusivity. Given the indicative price relative to Pennon's offer, the Board rejected this
proposal. Terra Firma has recently re-approached Shanks. The above
pre-conditions have been removed and the indicative price has been improved,
however the requirement for due diligence remains. There is uncertainty over
whether Terra Firma's approach would lead to a binding offer for the Landfill
Assets and, if it did, what the consideration and contractual terms would be.


A further announcement will be made when appropriate.

[seagreen] 06/5/2004 10:44

Sounds very possible ....looks promising!

[towed in the hole] 05/5/2004 08:47

Just been sent this link. Is it sks?

[shiningstar] 30/3/2004 23:15

lets hope so vmax!

[vmax] 30/3/2004 18:22

was a mention in the guardian last week re predators circling .........

[wipo1] 30/3/2004 16:40

Nice rise today, anyone know when trading update is out?

[anv] 17/3/2004 22:33

FTreader - when RHPS had it as a buy it was around the £1.20 mark. Let's hope they're right about the target of £1.72!

[vmax] 17/3/2004 17:17

still holding @ £1.26....nice to see a blue day!

[ftreader] 17/3/2004 15:20

was that when it hit 132 ANV? I've sold 1/2 as stopped out on latest buy, no idea what's gonna happen.

[anv] 17/3/2004 08:36

Anyone here? Am going long on this but all buys this morning - RHPS had this as a buy 3 months ago with a target of £1.72 - please post if holding with views
:-) good or :-( bad

[vmax] 11/3/2004 23:10

pennon out of the frame.......sorry!........onyx?........only what i've been told

[vmax] 04/3/2004 23:26

still think pennon group............time will tell.......still holding

[shiningstar] 25/2/2004 23:59

i hope so. This share is starting to do my nut in. I think there is a clever buyer out there. Only time will tell...