Thistle Hotels Share Discussion Threads

[oldtown] 13/2/2001 00:33

The take over could be completed without any talks with Thistle PLC considering that New Zealander Mr Brierley owns 49% of the stock.I would have thought any talks about a takeover would be with him and not the THostle board.

[ainsoph] 12/2/2001 13:02

Tend to agree ..... mm are nearly all offering the same quote and the selling has been light

ainsoph

[ainsoph] 12/2/2001 11:40

I think you need to look at the words of the announcement a little more closely - it doesn't say they are not in discussions - only not in formal discussions ..... either way the shares are holding up and actually still up on Friday's close ..... continues to look very interesting and do not see too many people trying to short them.... we all talk our own book

ainsoph

[frenchman] 12/2/2001 11:09

See my other article `The weekend press`.Seems that the spivs have latched onto this also.What a rubbish article in the `Times`,absolutly no substance just 2ND rate journalism that the Times seems to specialise in.

[boyblue] 12/2/2001 10:53

Too late you missed all the action...but no smoke without fire !!

[nowella] 12/2/2001 10:50

Thistle Hotels been in the doldrums for some time. Seem to be picking up nicely now. Anything happening here?

[blackday] 12/2/2001 10:40

yep denied it

[charles bronson] 12/2/2001 10:29

Not according to Thistle

See anouncement

cb

[mungoa] 11/2/2001 18:16

Another commentary......:

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Message:


¶ LONDON (Dow Jones)--Thistle Hotels PLC's (U.MTC) shares have moved dramatically higher over the past month on renewed speculation that the U.K.-based four-star hotel operator is about to be sold.

¶ It's no secret that Brierley Investments Ltd. (A.BRY) has been looking to unload its 45.9% stake in the group since last June. But the likes of Bass PLC (BAS) balked at Ron Brierley's New Zealand-based investment vehicle's asking price of 220 pence a share, which would have valued the upmarket assets at just under GBP1.1 billion.

¶ At 1213 GMT Friday, Thistle was 3 pence higher at 150 pence. The stock is up 50% since falling as low as 100 pence a share in the fourth quarter of 2000, as hopes for a quick sale faded.

¶ Thistle's other institutional investors are now hoping that Brierley has revised his asking price downwards to about 190 pence a share. Thistle owns 55 hotels, 23 of them at the top end of the London market.

¶ "We're hoping that Brierley isn't too greedy this time," said one fund manager. "We're simply holding on to our stake, waiting for an offer to come in, which would have to be extended to all the other shareholders."

¶ Brierley Investments was unavailable for comment. Thistle is in a closed period until its preliminary announcement on Mar. 5 and no regulatory announcement regarding its share price movement in recent weeks is expected.

¶ Thistle's investors include Brierley, the Government of Singapore Investments (13.1%), Havelock Investments Ltd (6.55%), Sanford C. Bernstein & Co Inc (4.22) and Tweedy, Browne Co (3.52%).

¶ Thistle reported January that sales in its retained hotels advanced 8% to GBP324.4 million in 2000. Occupancy during the same period rose 0.9% to 75.8% and, as a result, revenue per available room increased by 6% to GBP53.45.
¶
¶ -By Brian Truscott, Dow Jones Newswires; 44 207 842 9289; [e-mail]
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[mungoa] 11/2/2001 18:16

Another commentary......:

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Message:


¶ LONDON (Dow Jones)--Thistle Hotels PLC's (U.MTC) shares have moved dramatically higher over the past month on renewed speculation that the U.K.-based four-star hotel operator is about to be sold.

¶ It's no secret that Brierley Investments Ltd. (A.BRY) has been looking to unload its 45.9% stake in the group since last June. But the likes of Bass PLC (BAS) balked at Ron Brierley's New Zealand-based investment vehicle's asking price of 220 pence a share, which would have valued the upmarket assets at just under GBP1.1 billion.

¶ At 1213 GMT Friday, Thistle was 3 pence higher at 150 pence. The stock is up 50% since falling as low as 100 pence a share in the fourth quarter of 2000, as hopes for a quick sale faded.

¶ Thistle's other institutional investors are now hoping that Brierley has revised his asking price downwards to about 190 pence a share. Thistle owns 55 hotels, 23 of them at the top end of the London market.

¶ "We're hoping that Brierley isn't too greedy this time," said one fund manager. "We're simply holding on to our stake, waiting for an offer to come in, which would have to be extended to all the other shareholders."

¶ Brierley Investments was unavailable for comment. Thistle is in a closed period until its preliminary announcement on Mar. 5 and no regulatory announcement regarding its share price movement in recent weeks is expected.

¶ Thistle's investors include Brierley, the Government of Singapore Investments (13.1%), Havelock Investments Ltd (6.55%), Sanford C. Bernstein & Co Inc (4.22) and Tweedy, Browne Co (3.52%).

¶ Thistle reported January that sales in its retained hotels advanced 8% to GBP324.4 million in 2000. Occupancy during the same period rose 0.9% to 75.8% and, as a result, revenue per available room increased by 6% to GBP53.45.
¶
¶ -By Brian Truscott, Dow Jones Newswires; 44 207 842 9289; [e-mail]
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

[michaelstone] 11/2/2001 13:01

chuffed to bits. long time coming. hope to see a nice rise on monday

[mungoa] 11/2/2001 11:48

That explains Fridays mm activity.

Next couple of weeks should be interesting !

[mungoa] 11/2/2001 11:47

From The Times this weekend:

Nomura casts eye over Thistle

BY JAMES DORAN AND DOMINIC WALSH

GUY HANDS, the managing director of Nomura’s Principal Finance Group, is set to launch a fresh £1 billion-plus bid for Thistle Hotels, the UK’s fourth-largest hotel operator.
Mr Hands, who launched an abortive bid worth an estimated £1.7 billion for Thistle in 1998, is understood to be running a sliderule over the group with the intention of making a fresh assault if he fails to win the £3 billion Forte hotel auction.

Nomura is thought to be one of three main shortlisted parties vying for Forte’s Méridien, Posthouse and London Signature brands. The Forte business was put up for sale last year by Compass, the catering group, before its demerger from Granada Media.

Although Mr Hands is known to be keen on the Forte portfolio, analysts believe that both Marriott International, the US hotelier, and Bass, owner of the Inter-Continental and Holiday Inn chains, would be able to extract much bigger cost and operating synergies, and therefore trump Nomura.

Speculation of a move on Thistle has been heightened by Nomura’s £255 million surprise acquisition last month of Principal Hotels, the 17-strong chain based in Harrogate. Both chains operate in the four-star market and the combined group would have more than 70 properties. Thistle’s portfolio includes the Tower and Royal Horseguards hotels in London.

Although Thistle , under the leadership of Ian Burke, the chief executive, and Nomura both declined to comment, a source close to Mr Hands said last night: “If a trade buyer walks away with Forte, then we will have another go at Thistle. There is no doubt that Principal and Thistle would fit very well together.”

Moreover, Thistle’s biggest shareholder, Brierley Investments, is known to be desperate to sell its 46 per cent stake and observers believe that the New Zealand investment firm may have lowered its previous price expectations of about 200p a share. Yesterday bid rumours boosted the shares 10p to 157½p, valuing the group at £758 million, or more than £1.2 billion with debt.

Meanwhile, Mr Hands is also understood to be putting the finishing touches to a controversial new offer for the Millennium Dome, which would see the ill-fated attraction remain in government hands for a decade. The scheme would raise up to £400 million for the Government compared with the £125 million offered by the Legacy consortium, led by Robert Bourne, the Labour Party donor. However, the Legacy bid has become mired in controversy, raising doubts over its ability to succeed.

The Government is set to make a decision by Thursday.

Nomura, which was itself the Government’s preferred bidder until it pulled out after a row last year, wants to lease the Dome for a nominal rent for ten years, leaving the Government to sell off the surrounding land. Mr Hands has put a draft proposal to Lord Falconer of Thoroton, the Cabinet Office Minister, which argues that the land in front of the Dome could be sold for more than £200 million, while land at the rear of the 63-acre site could fetch £150 million to £200 million."
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Hope this helps.
Regards.....mungoa

[m16pab] 11/2/2001 11:21

Understand that it could be Nomura who are going to buy them, guess they have money to place after the dome thing didnt go ahead? Wonder what price we can expect?

[michaelstone] 09/2/2001 19:39

I remember reading an article a while back (poss. on bloomberg)
where the head of brierley wants to sell part of thistle but says property is worth 2.40ish a share. A few years ago when they nearly did sell out the price was 2.50. If todays rise is due to buyout talk can we expect over 2.50??
michael

[mungoa] 09/2/2001 16:27

13.02
Thistle Htls 152.5 5.5 4
Renewed speculation emerges that
Thistle is about to be sold. Investors
hope 45.9% stakeholders Brierley
Investments are willing to lower their
asking price.

posted on premium by ainsoph

[gregson] 09/2/2001 16:17

With the perks thrown in.........good value.

[ainsoph] 09/2/2001 15:56

moving up again @ 155/158p

ainsoph


13.02
Thistle Htls 152.5 5.5 4
Renewed speculation emerges that
Thistle is about to be sold. Investors
hope 45.9% stakeholders Brierley
Investments are willing to lower their
asking price.

[mungoa] 09/2/2001 15:55

Somebody's buying up huge amounts of stock.

[mungoa] 09/2/2001 15:55

Somebody's buying up huge amounts of stock.

[mungoa] 09/2/2001 15:09

Dont know.

Meanwhile......mm's looking very healthy (all up) on level 2 !!

[mungoa] 09/2/2001 15:07

Possibly, but good news ......level 2 is showing just 2 (out of the 12 mm's) left at 155p all the rest have moved up to 156 and 157. So a further rise is possible soon.

:O)

[m16pab] 09/2/2001 14:48

Now up 6.5p looking good, nice steady rise. Wonder if theres news about to come out?

[mungoa] 09/2/2001 14:45

The picture now: