Six Cont. Share Discussion Threads

[octopus100] 03/3/2003 14:30

Lets hope so

[honiton] 03/3/2003 13:12

Honiton

Expect final bid to be pitched at £6.90.

[jeffian] 03/3/2003 10:28

Too much CMI paper. The bid is only "worth" something if you believe value of CMI - but it's like a flea biting an elephant. Osmond's going to have to get his chequebook out if he wants to impress existing SXC shareholders (at least, this one!)

Regards, Ian

[gumberr] 03/3/2003 10:17

yes the offer is 6.48 made by the bidder so why down?!!! something cooking I think?

[octopus100] 03/3/2003 09:05

Very interested also why aren't we hovering around 6.30?

[asphyx24] 03/3/2003 08:48

Well the bid is there but the investor are not taking it lightly Six continent down any reason why is the Bid too Hostile?

[snaptastic] 02/3/2003 23:01

Osmond to bid 5.4-6 bln stg for Six Continents tomorrow - reports
02/03/2003 19:23:52
LONDON (AFX) - Hugh Osmond is planning to launch an all-share bid for Six Continents PLC worth between 5.4 and 6 bln stg when the stock market opens tomorrow, acccording to press reports.

Citing city bankers, the Sunday Telegraph reported that Osmond will launch a 5.4 bln stg bid and has raised 1.2-1.4 bln stg of credit so that Six Continents shareholders can elect to take cash instead of paper for about a quarter of their shares.

Osmond will take 20 pct of any gains he generates from Six Continents asset sales -- which could see he and his team taking home 200 mln stg in the next few years -- if his bid, via his AIM-listed Capital Management and Investment, is successful, the paper said. Meanwhile, The Observer said an offer from Osmond in the region of 6 bln stg could set off a bidding war, with US buy-out specialist KKR making a counter offer.

The paper said the possibility of KKR and Osmond joining forces could not be ruled out, according to city sources.

The Business added that Osmond plans to conduct a sale-and-leaseback of some of the 2,100 pub properties and securitise the revenues generated from operating the pub and restaurant franchise.

The Times believes the offer will be in the region of 5.7 bln stg.

There was no one available for comment this afternoon.

[honiton] 01/3/2003 18:29

Look at Friday's trade.

After 4.30pm a lot of buys above noral buying price.

Expect bid of £6.45 early next week.

[octopus100] 27/2/2003 13:49

Any idea when this Hugh Osmond will be anouncing his formal bid and the level it is likely to be at?

[chrisg] 25/2/2003 00:48

octopus100 - as has been stated before on this thread, £8bn is the anticipated combined value of SXC and Hilton together, after a merger. It is not a proposed bid price for SXC. Suggest you follow the link in snaptastic's post above and read the article.

[octopus100] 24/2/2003 11:43

What about the rumours that Hilton are thinking of an £8bn all paper share bid - what price would that translate to?

[opus1] 24/2/2003 10:51

But is the £700m set aside for shareholders included in the £6.50 price. I don't believe it is, and if not that will bring the price into a higher bracket.

[octopus100] 24/2/2003 10:47

So what's the thinking on where this is going - other than the Hue Osmond bid coming out this week - it mentions other people possibly putting together a bid - top price spoken about is £6.50 p/share though some people on bulletins are speaking about £8 - how realistic is this?

[rara] 24/2/2003 00:45

5.7 billion pound divided by 867 million shares is 657p

8 billion pound possible white knight offer is the combined value of both SXC and Hilton so little increase in share price in present mkt conditions.

[snaptastic] 23/2/2003 10:43

8 billion = over £9!

[snaptastic] 23/2/2003 09:50

Osmond to Announce $9 Bln Offer for Six Continents, Paper Says
By Toby Anderson

London, Feb. 23 (Bloomberg) -- U.K. entrepreneur Hugh Osmond will this week announce a 5.7 billion pound ($9 billion) offer for Six Continents Plc, the owner of 3,300 hotels and 2,100 bars, and pledge to return 1.5 billion pounds to shareholders, the Sunday Times reported.

The cash and stock offer values the business at 650 pence a share, the paper reported, citing unidentified people. Osmond may return additional capital to investors if he makes asset sales, the paper said.

Six Continents said Friday its plan to spin off the hotel unit from the pubs is better for shareholders than a breakup intended by Osmond. The leisure-industry entrepreneur said on Feb. 19 he may make an offer for Six Continents.

[snaptastic] 22/2/2003 11:43

KKR?



can see this going up to 750ish within a fortnight. Thats for starters. Assets worth a fortune now cos of property price increases, London hotels will be a goldmine post Iraq war if it goes well and business travel resumes.

[bigbobjoylove] 22/2/2003 00:52

who'll be next to throw their hat in the ring???????????

[bigbobjoylove] 20/2/2003 08:19

talk in press of frenzy like safeway bid and up to £8 share for success.

[deadbull] 19/2/2003 15:43

19 Feb 2003 15:40 GMT Six Continents Says Has Received No Approach From CMI

[bigbobjoylove] 19/2/2003 10:15

SOME REPORTS SUGGEST UP TO 8 BILLION.

[taylorag] 19/2/2003 10:00

BIGBOB @ 750/800p that would be joy & I would love it!! So would my bank manager!
This should be very interesting now, though resistance at £6.20, guess that's pending formal offer.

[bigbobjoylove] 19/2/2003 09:28

would have thought 750-800p would be a fair deal.imo.

[taylorag] 19/2/2003 08:47

Bloomberg mentioned an indication of the bid size this morning. How much would Hugh have to pay/share? Any ideas? Presume this will have to be done soon & before Co split as I guess he's after retaining the cash pot rather than returning it to us shareholders?