We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Register to chat with like-minded investors on our interactive forums.
| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Titan Eur. | LSE:TSW | London | Ordinary Share | GB0034380518 | ORD 40P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 0.00 | 0.00% | 112.375 | 0.00 | 01:00:00 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| - |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| - | O | 0 | 112.375 | GBX |
Titan Europe (TSW) Share Charts1 Year Titan Europe Chart |
|
1 Month Titan Europe Chart |
Intraday Titan Europe Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 22/10/2012 | 12:45 | Titan Europe | 2,394 |
| 09/8/2010 | 12:23 | Titan Europe - Preparing for breakout | 9 |
| 30/7/2009 | 14:40 | Titan Bid Battle | 9 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|
| Top Posts |
|---|
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 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 13/9/2012 09:43 by kimboy2 All the share price has done is kick around the offer price which is presently 112p.We are obviously going to get the offer document today or tomorrow more likely. IMV the crucial thing is whether Mefro are on board at the present price. If they are then I think it is game over. If they are not then I doubt that TWI will get to 51%, even if they were happy to just have a majority holding and to continue to be listed in London. Alternative bidders have been rather conspicuous by their absence. Perhaps they are waiting for the offer document. However I suspect that other potential bidders may have taken the view that the synergies to TWI were so overwhelming that they were going to get outbid. Why knock up costs in a losing cause. While the synergies may be overwhelming the price isn't. However in order to get a better price it will need some sort of catalyst to emerge. This will either be an alternate bidder or for Mefro to hold out. I am expecting the interims tomorrow to try and push as many as they can towards the bid. The TSW board will be full of uncertainties which they apparently don't have when wearing their TWI hats. |
Posted at 13/9/2012 09:04 by neg Exactly Tiswas, the share price is now back to where it was before the takeover was known! Value of the takeover is now down to some 1.11... who is going to accept that? Either Titan Int walk away or they will have to substantially raise their offer. I am very happy to hold my shares, and kind of hope this bid fails. Ok the share price will fall, but it is very cheap anyway.Perhaps they have delayed posting either because they know the Germans won't accept and are thinking about raising the offer, or that they know it will fail and don't think it worth going ahead. |
Posted at 03/9/2012 09:04 by 2andyman I no longer trust the managenment of TSW. If the bid fails the whole lot of them should go, including Akers, and a new board that represents all of the shareholders appointed.I found the below on Wikipedia intersting. From Wikipedia 'Takover - Strategies' Takeovers may also benefit from principalagent problems associated with top executive compensation. For example, it is fairly easy for a top executive to reduce the price of his/her company's stock due to information asymmetry. The executive can accelerate accounting of expected expenses, delay accounting of expected revenue, engage in off balance sheet transactions to make the company's profitability appear temporarily poorer, or simply promote and report severely conservative (e.g. pessimistic) estimates of future earnings. Such seemingly adverse earnings news will be likely to (at least temporarily) reduce share price. (This is again due to information asymmetries since it is more common for top executives to do everything they can to window dress their company's earnings forecasts). There are typically very few legal risks to being 'too conservative' in one's accounting and earnings estimates. A reduced share price makes a company an easier takeover target. When the company gets bought out (or taken private) at a dramatically lower price the takeover artist gains a windfall from the former top executive's actions to surreptitiously reduce share price. This can represent tens of billions of dollars (questionably) transferred from previous shareholders to the takeover artist. The former top executive is then rewarded with a golden handshake for presiding over the fire sale that can sometimes be in the hundreds of millions of dollars for one or two years of work. (This is nevertheless an excellent bargain for the takeover artist, who will tend to benefit from developing a reputation of being very generous to parting top executives). This is just one example of some of the principal-agent / perverse incentive issues involved with takeovers. |
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 17/8/2012 14:13 by insails and 1If your broker doesn't trade US stocks then you will need to open an account and move your shares to one who does.asap. your broker may be able to arrange a to deal via another broker. Their will obviously be a period of time after a formal offer is issued which will help. If you don't have an international account you will be offered the shares in certificate form which could lead to delays. You might find the share price settles down very near the TWI offer price and you are happy to sell the TSW shares in the normal way on the last day of trading. Don't use TD Investing. They cost me £300,0000 when West China Cement re-listed in Hong Kong. They took 8 weeks opening my company account and another 5 weeks transferring share certificates, all without the slightest sign of concern or competence. |
Posted at 16/8/2012 11:33 by tiswas Cheers KimboyWhen were Arden appointed and do you think the substance of their advice has been made known? I still do not see how it can be in the interests of TSW shareholders to be exposed to a falling TI share price. Would they consider it to be a fair offer if International share price halved from here? If not why is there no caveat on the recommendation? RULE 3. INDEPENDENT ADVICE 3.1 BOARD OF THE OFFEREE COMPANY The board of the offeree company must obtain competent independent advice on any offer and the substance of such advice must be made known to its shareholders. PS Not thinking I can do anything about this but it is a good learning process! |
Posted at 17/7/2012 08:16 by davidosh I did not see any press coverage nor movement in the share price to suggest a bid approach ! I wonder if they are putting immediate pressure on to extract other interest in the company at an early stage rather that Titan Inc setting the price based on the current share price.The company was in bid talks with Titan Inc in 2008 before I took a shareholding and before Mefro swallowed up 28% of the company. At that point the indication was that well north of £2 was required and I see no reason why it would not be needed again this time |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Hot Features
Premium
