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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Wellstream | WSM | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 782.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 782.00 |
| Top Posts |
|---|
Posted at 13/1/2011 13:51 by shoee62 any ideas whether HMY might be a target for after WSM? A bit of a long shot but recently won a contract for pumps for ships working for oil and gas industry in Brazil. |
Posted at 13/12/2010 08:14 by spob GE agrees £800m Wellstream dealFT By Sylvia Pfeifer, Energy Editor December 13 2010 General Electric has agreed to buy Wellstream, the UK oil and gas services group, for approximately £800m as part of an aggressive expansion into energy services. GE, which has twice been rebuffed by Wellstream, confirmed on Monday it will pay 786p a share, including a special 6p a share dividend, for the UK group. EDITOR'S CHOICE GE increases dividend in bullish stance - Dec-10.General Electric bullish on finance arm - Dec-08.GE's £755m bid for Wellstream is turned down - Oct-06.GE emerges as mystery bidder for Wellstream - Oct-04.Wellstream soars on bid approaches - Sep-21 GE's previous offer of 750p, valuing Wellstream at £755m, had been rejected as too low by the board of the UK company. GE confirmed it had made that offer in October and said it was "disappointed' it had been rejected. The agreed deal will end months of pursuit by GE of Wellstream which announced in September it had been the subject of several bid approaches. National Oilwell Varco was among GE's rival suitors. The offer price represents a 29.1 per cent to Wellstream's closing share price of 609p on September 20, the last business day prior to the UK group's announcement that it had received a number of preliminary approaches. The price also represents a premium of 53 per cent to Wellstream's average closing price of 514p over the three months to September 20 and is 5.2 per cent above Friday's closing price of 747p. Wellstream has manufacturing bases in the UK and Brazil and is one of the world's largest suppliers of flexible pipes for the oil and gas sector. One of its main attractions to potential bidders is its exposure to Brazil, which is investing heavily in exploration. Petrobras, the Brazilian energy group, accounts for a substantial part of Wellstream's income. For GE, the deal will mark its second substantial acquisition in the energy sector in two months and will bring together two former sister companies. Wellstream was owned by Dresser 15 years ago. The Texan maker of gas engines for the energy sector, was bought by GE in October for $3bn. The two are seen as complementary. John Krenicki, president of GE Energy, said at the time that the Dresser deal was just the latest in a series of acquisitions in the sector. As a result of the purchases, the US conglomerate has doubled its energy revenues in the past five years to about $30.2bn in 2009. Energy is GE's largest industrial unit and analysts expect it to generate about $31bn of revenues in 2010. Its performance has been sluggish of late as power companies have delayed ordering equipment. Jeff Immelt, GE's chief executive, has identified infrastructure products as an area to focus on as it scales down its financial services arm and returns to its industrial roots. GE's share price has failed to follow the recovery in the S&P 500 since the financial crisis. Mr Immelt said GE would increase its quarterly dividend by 17 per cent to 14 cents a share, last week. Shares in GE closed on Friday at $17.72 in New York. |
Posted at 02/11/2010 11:47 by wendsworth Phillis : I've not read anything of late in relation to WSM corporate action. It is disappointing that the Board has seen fit to 'say nothing'. An update viz 'due diligence, etc...'would have been useful in the light of their previous announcement. |
Posted at 16/10/2010 17:37 by mida5 Is the Market getting nervous about everyone walking away from WSM? |
Posted at 06/10/2010 23:20 by wendsworth This afternoon two separate brokers have re-itterated a HOLD with target prices of 800p and 850p respectively. I very much support the Wellstream Boards's position and regard the GE offer as inadequate. I remain a holder and will do so until this share trades well north of 800p. As they say , 'It aint over until the fat lady sings' and I regard today's statement by GE as very much the first act. Its the prologue and not the epilogue . G.E. may well be one of the top ten valued companies in the world but it could well end up paying considerably more if it doesn't sharpen up its bid for WSM ...and what's more I suspect its board knows it! |
Posted at 06/10/2010 07:56 by stephanie_m GE may withdraw from Wellstream bidBy BFN News | 07:05 AM | Wednesday 06 October, 2010 Gen.electric Com Stk Usd0.06 (GEC) Wellstream Ord 1p (WSM) General Electric (GE) has said this morning that it is disappointed that the directors of Wellstream Holdings has not accepted its takeover terms. GE's bid is worth £7.50 per share. It says that there is no certainty it will take any further action and may make a reduced offer. Story provided by StockMarketWire.com s |
Posted at 22/9/2010 22:17 by nielsc Hopeful Holder,Thanks for mentioning WSM on the DGO thread a while back. I opened a small spreadbet at around the £5 mark. Sitting on a nice little profit now. Wish it had been the size of some of my larger holding, but I mustn't grumble. Hope you have done equally well :-) Cheers, Niels |
Posted at 11/4/2010 02:04 by eisler Could have made a packet on latest rise - but settled for my usual spread. Happy to sit on the sidelines for now and wait for the 490-510 - if it comes. Seems a long shot from here - but this is WSM after all! |
Posted at 01/4/2010 12:48 by cockneyrebel No probs PeterBill :-)WSM firm today - bid news in the Easter papers perhaps? CR |
Posted at 18/3/2010 12:16 by peterbill Technip Market Cap: 6.3B (euros)Saipem Market Cap: 12.07B (euros) Wellstream Market Cap: 571m (pounds) I would have thought that Technip would be a bit too big for Saipem to be interested in. Saipem are much more likely to go for a company like WSM as that would give them a easy way into the flexible lay market (deep water). I was involved in Nexen's Ettrick development in the north sea, completed by Saipem. They did lay all the flexis but I'm not sure if they manufactured them. As far as I know Saipem are more into traditional (higher cost) pipelay so Wellstream will give them more of the flexible market. Hope a bidding duel develops for WSM. |
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