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SOF Somerfield

0.00
0.00 (0.00%)
Share Name Share Symbol Market Type Share ISIN Share Description
Somerfield LSE:SOF London Ordinary Share GB0008218694 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% - 0.00 -
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Somerfield Share Discussion Threads

Showing 1876 to 1899 of 2075 messages
Chat Pages: 83  82  81  80  79  78  77  76  75  74  73  72  Older
DateSubjectAuthorDiscuss
21/4/2005
23:00
If so it looks like they were a client of Man Financial as they shed about 11 million shares in total over the Tuesday/Wednesday sessions and no doubt more today. Are they seriously saying they have a punter who spreadbets that volume. It could equally be another negative rumour while someone converts CFDs to actual shares. Since they haven't found a buyer yet I guess the MMs are taking a more positive view than the rumour-mongers who tip the Baugur/Barclays/Tchenguiz/Apax consortium to walk away.

In my view this doesn't ring true. Stop me if I'm wrong but Baugur have never failed in their objectives so far and I think it is no secret that Somerfield have been in their sights for a very long time.

Since they have bought Iceland, it is reasonable to assume that they wish to combine the two into one group. However, after combining the two they could then separate into three separate companies.

Baugur have been fairly transparent in their ambitions, admirably helped by a market which has been unforgiving and willing to substantially undervalue the assets of retail businesses - and who am I to complain !

If the bid fails where will the share price be afterwards? I guess that it will not be very significantly affected and Baugur will have to come back with a better offer. I can't see a price of 220p succeeding at all.

faxxer
20/4/2005
04:32
The Times April 20, 2005

Rumour of the day



Somerfield shed 5¼p to 196¾p on turnover in 24 million shares on talk that a large contracts-for-difference investor who had been caught on the wrong side of Woolworths Group - which fell 27 per cent last week - had been forced to sell the food retailer to satisfy margin calls. Followers of Somerfield still hope for an offer of at least 220p from its declared bidders, who include a consortium backed by Baugur and Apax Partners.

n_w_b
19/4/2005
22:17
Man Financial tend to be Spread Betters
widgee
19/4/2005
18:30
I got out at 204p on Friday... gonna watch this one closely and hopefully get back in as there is surely more to this as faxxer has surmised.
neelix66
19/4/2005
17:13
Urgent message for Stewart Horner of Man Financial Limited

Please replace your calculator batteries now!
31,201,751 is not 6.17% of 547,517,453, it is 5.70%.
No, it is not even 6.17% of 548,328,045 as Somerfield advised today.
That would have been 5.6903%.
____________________________________________________________________________

Note: the table in the header reflects percentages recalculated in light of current Somerfield shares in issue.

It appears that Man Financial sold approx 800,000 on Friday. I am looking forward to finding out who was involved in today's sell-off.

faxxer
19/4/2005
15:54
Thanks faxxer.
kingdwg
19/4/2005
15:39
Hi Kingy

That is Man Financial 6.17% is an increase of their holding. See post 652 above and the table which I have maintained in the opening post.

I am waiting for ASDA or Sainsbury to get involved.

If Baugur, Barclays, Apax and Tchenguiz are browsing the books they can't trade, hence no news from Barclays.

Livingstone bros. have not yet made an offer I think, so Man could represent their purchases. I am sure someone out there knows what is going on. If only they would share it with us.

faxxer
19/4/2005
14:55
There seems to be some heavy cfd trades. Check this one out!!
kingdwg
19/4/2005
13:21
What isn't very helpful is the share price performance. What's happening here, any ideas? 15p down from it's peak makes you think what could have been had!!
kingdwg
17/4/2005
16:53
Well done faxxer, very informative and helpful.
kingdwg
17/4/2005
13:53
JVS playing hardball? End of year is 30 April 2005.



Positive indicators:

a. Cater Allen International Ltd bought stake in co on 12th April
12,200,000 shares @ 212p = £25,864,424 = 2.35%.

b. Man Financial Ltd up significantly recently to 32 million shares which is a 700% increase

c. State Street increased their stake over the offer period by 132%

d. Around 85% corporate ownership identified in table above

faxxer
14/4/2005
20:50
I suspect it is 3 because Apax said it had been 'unable to confirm certain key cash items'.

Somerfield has been moving back to the 205 that is rumoured to be on the table. I would hope to see more than that in view of the value of the property. Some commentators have said that the price has gone down as two rival bidders have teamed up but I think there is a counter-arguement that SOF should be able to negotiate a higher price than if the bidder were purely interested in property or purely interested in the business operation.

Time will tell.

sharw
14/4/2005
10:58
Apax pulling out of Woolworths seems to have hit SOF today. Analysts suggest that Apax have lost their appetite for retail.

This news could mean one of three things:

1. Apax involvement in the takeover of SOF could be in doubt.
2. They are ditching woolworths to concentrate moew on SOF.
3. Neither of the above two.

The share price has taken a 2% hit so far today, my opinion is that it just could just be a nervous reaction.

I personally take the long term view and I would rather see the company finish its five year plan. I doubt this will happen and expect them to sell-out in the near future, I therefore would expect the company to get as good a deal possible. I would hope they will not sell for lower than 220p. This is still cheap but I cannot see anybody prepared to pay much more than that.

cheekycharlie
12/4/2005
15:28
Market seems to have digested the news and decided it's not bad at all.
kingdwg
12/4/2005
12:27
Lets hope they can put together a sensible offer...!!!
cheekycharlie
12/4/2005
11:41
It was rumoured that the Tchenguiz Family and Baugur would do this anyway. Papers have been second guessing all along
widgee
12/4/2005
09:51
Looks like they've all put their heads together. Can't help much. A competition would be better.
kingdwg
12/4/2005
09:41
Less chance of a bidding war?

Barclays Capital
12 April 2005


For immediate release 12 April 2005

Formation of Consortium

Funds advised by Apax Partners Worldwide LLP ('Apax'), Barclays Capital
('BarCap'), the Tchenguiz Family Trust ('TFT') as advised by R20 Limited ('R20')
(the investment vehicle of Robert Tchenguiz) and Baugur Group hf ('Baugur'),
confirm that they have formed a consortium (the 'Consortium') which is currently
in discussions with Somerfield plc ('Somerfield' or the 'Company') in relation
to pursuing a recommended cash offer for the Company.

We believe that the members of the Consortium provide considerable operational
and financial skills together with substantial experience in the sector. As a
result, the Consortium is very well placed to be able to put forward a proposal
which we believe the board of Somerfield will find attractive both in terms of
value and deliverability, following, inter alia, completion of a due diligence
exercise.

The Consortium believes that the current management team has made substantial
progress with the business and we are excited by the prospect of investing in
Somerfield to continue its growth and development. It should be noted that
discussions are at a very early stage and, inter alia, subject to completion of
a due diligence exercise. There can, accordingly, be no certainty that any offer
will be forthcoming or of the terms of any such offer.

A further announcement will be made in due course.

Enquiries

Finsbury +44 (0)20 7251 3801
(PR adviser to the Consortium)
Roland Rudd
Morgan Bone

barman92
12/4/2005
08:25
I would have thought that SOMEONE would have stuck his hand up now and moved this all one step forward from the ONLY formal offer (1.90) by the Iceman.

Anyone got any views other than that of the papers.

widgee
11/4/2005
06:56
They did fix it. Thank you "faxxer". (It was only a couple of keys to press as well!!). No charge though. So I can buy more Sommerfield below £2.00
widgee
08/4/2005
09:04
widgee: your caps lock appeared to be stuck
faxxer
08/4/2005
05:46
Sharw: Fair enough. faxxer: widgee if you take your computer to PC World they will fix it for you. ??????????????
widgee
07/4/2005
18:50
widgee - I am not suggesting anything about whether it is true or not. What I am suggesting is that articles such as this in papers like the Times and the FT have enough influence in the City to move share prices, and that SOF's rise today was one such instance.
sharw
07/4/2005
15:46
widgee if you take your computer to PC World they will fix it for you.
faxxer
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