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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Titan Eur. | TSW | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 112.375 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 112.375 |
| Top Posts |
|---|
Posted at 09/10/2012 15:28 by alphahunter OK, sold out on the mini spike today, after three years or so of almost unbroken shareholding. TWI/TSW is well arbritaged, so one does not get shafted by MM by selling on the bid price as one would do with a spreadbet.TWI has bid for TSW very opportunistically, possibly as Mefro needed the cash. TWI is looking cheap but their recent acquisitions look pricey to me (GT farm tyres notably). Well, GL to everybody, and in particular to Kimboy for sharing the brokers' feedback with the rest of us. |
Posted at 05/10/2012 21:48 by 2andyman I am disappointed at this result. The question for me is what to do now. I note that people were still buying shares in TSW this afternoon. Why would they do this if the offer is unconditional and Titan International can delist TSW? If I do not accept the offer what happens to my shares on the 19th of October? Am I paid the cash value for them or am I forced to take Titan International shares? If I have a nominee account through Halifax do my TSW shares disappear with Titan International shares replacing them? Am I better just to sell them in the market next week if I don't want Titan International shares? Any advice greatly appreciated as I have not been in this situation before. |
Posted at 24/9/2012 11:09 by 2andyman Even if they raise the offer I still won't agree to the bid as having shares in TWI is my least favoured option. If they went for a cash offer this might tempt more TSW shreholders but it is arrogant on their part to think that TSW shareholders want TWI shares. If we did want TWI shares wouldn't we have bought them? TWI are cheeky bast*rds and I for one give them a 2 finger salute. |
Posted at 23/9/2012 12:02 by insails I have come to the view that in the absence of a counter offer I would be best voting in favour of the takeover.I would hope that if TWI win and the deal is seen as a steal TWI stock will rise, and with the positive points in Kimboy2's post above TWI may be able to outperform TSW. European sales are clearly under pressure on all fronts whilst US agricultural sales may not be so badly affected as I first feared as many US grain farmers are insured and the others with crops are getting record prices. If the bid fails I fear a stampede for the exit dragging the TSW price down and with little growth in prospect to bring it back up. I see that once accepting i am restricted from then selling so i imagine a counter offer has to come now or never as holders wont be able to change their mind later. I dont think a counter offer will appear. |
Posted at 21/9/2012 08:43 by 2andyman I definitely want the bid to fail, even more so now from what I have read above about TWI management. My hope is that if the bid fails TSW maangement will sack a director or 2 as scapegoats and then get back to running the business as they should have been doing instead of acting as fifth columnists for TWI. What amazes me is the level of incompetence and disloyalty that British directors get away with. If they were ordinary workers or managers in the private sector such behaviour would result in instant dismisal. Just to round off my unbiased view I also believe that each of the TSW directors should receive a sound thrashing with the same tree branch that Basil Fawlty used on his car when it broke down. |
Posted at 20/9/2012 18:27 by alphahunter TWI have perfectly timed their offer, taking the donkey Independent Directors for a ride. They cajoled them into agreeing a 1:8 ratio when TWI was at an all time high, then they force TSW to announce an engineered PW (2 weeks after TSW had reaffirmed forecast) only for TSW warned after the swap ratio had been cemented.The offer document makes no mention of TSW's valuation or assets, only to talk about the ill-winds accross the old world. Yeah right... I thought I was reading a sell call from trashy tip sheet. I wish good luck to the one "Independent" board director to expand his directorship in this country. The CFO, well she will have to decide whether to join Mefro or leave IMO. |
Posted at 15/9/2012 08:25 by strollingmolby Some observations on the results:- Revenue constant at historic record levels - Earthquake net impact (£1.194m) will be recovered by insurance, so has dragged profits and EPS down. Commentary indicates there will be some volume loss. - Net debt of £121m down from £124m at Dec-11 and £139m at Jun-11. - Balance sheet - net assets are constant at £164m, working capital UP £19m from £99m to £118m. - I presume the £1.8m fees (mentioned by Kimboy above) clocked up by TSW are post y/e, and will help to kitchen-sink the final results to 31-Dec? These will no doubt increase in the months to come. The Board of TSW have shown a blatant disregard for shareholders by delaying results to fit with TWI's agenda, then issue them at 6pm on a Friday. A clear a conflict as I've ever seen. |
Posted at 21/8/2012 16:55 by and1 TWI price is hopefully starting to move up reflecting that if the deal goes through they are getting about 15% equivalent of their combined market cap for free if they give 1 TWI share for every 11 TSW. ie a share price of TWI around 25$ is still quite cheap. That will put TSW only at 145p.I think with the possibility of Mefro bidding and a rise in TWI shares to 25$ it may be worth holding on for a TSW price between 165 and 145p. Fingers crossed! |
Posted at 18/8/2012 10:42 by kimboy2 I think that TWI will get it. The only question is price;At 1 TWI for 11 TSW = 125p At 1 TWI for 10 TSW = 138p At 1 TWI for 9 TSW = 153p At 1 TWI for 8 TSW = 172p At 1 for 11 it is about 8m TWI shares and at 1 for 8 it is about 11m TWI. At 1 for 8 the TWI shares are increased by 21% but PAT by 47%, before any synergies, so it would still be substantially earnings enhancing. |
Posted at 03/8/2012 07:30 by and1 I see that Mefro has 100% stake in all their subsidiaries except TSW where they have a 26% stake.Just an out of the box thought, Can this low offer for TSW be a ploy by TWI to force Mefro's hand to buy the remainder of TSW? Mefros reaction should be (and is) to buy as many shares as possible at this low market price either to increase the chances of blocking the bid or to get shares cheap prior to a bid. I would have expected them to be more aggressive buyers though? |
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