Wellstream Share Discussion Threads

[am4rjit] 06/11/2010 14:38

There was talk that UBS, have been hired for a wellstream counter bid last week by Varco.
Don't know if that's true?

[phillis] 06/11/2010 12:10

wendsworth

there is nothing in the rules that says Boards have to conduct their business in public

[spob] 06/11/2010 07:34

From the FT link above

Oil services group Wellstream was squeezed higher by 4.3 per cent to 770p amid rumours that National Oilwell Varco was working on a bid approach. In September, Wellstream knocked back a 750p per share offer from General Electric.

[fatken] 05/11/2010 21:58

Report from the FT saying that National Oilwell Varco was working on a bid approach. Here is the link

[spob] 05/11/2010 19:55

looks like GE have offered 800p

[wendsworth] 05/11/2010 19:53

Well... 'I'll go to the foot of our stairs !

If the word is out 'for the chosen few' ..then the FSA will doubtless look in detail at today's late trades....or will they?

[spob] 05/11/2010 19:52

Where's the bleedin RNS i'm looking for

must be some mistake :)

[fishbournetrader] 05/11/2010 17:13

Someone knows something and looks like word has got around. Loads of buys during the last minute that the market was open. Can we expect a new offer on Monday?

[mida5] 05/11/2010 17:00

No news but a very intresting last hour in the market

[wendsworth] 02/11/2010 11:47

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.

[phillis] 27/10/2010 19:09

absurd
they will be sounding out other parties - maybe getting into a controlled auction. Nothing will happen until end November unless of course there are no bidders)

[wendsworth] 27/10/2010 17:25

'Death by a thousand cuts'?

The silence from the Board is beginning to unsettle the market.

[mida5] 26/10/2010 18:46

Nothing I've seen

[mr.oz] 24/10/2010 20:04

any new ..news?

[wendsworth] 21/10/2010 07:59

mida5 : Doesn't look good in the short term. Long term this will come good.

[mida5] 20/10/2010 09:45

Plenty of sellers in the market today, down to £7.35, any news out?

[mida5] 17/10/2010 09:29

Thanks asif1230

[mida5] 16/10/2010 17:37

Is the Market getting nervous about everyone walking away from WSM?

[wendsworth] 11/10/2010 13:08

spob : NO RNS from the company.My view is that the longer this goes on the better .Meaningful negotiations take time.

[wendsworth] 08/10/2010 12:26

spob : Bought another 5000 at 760 ..shows as a sell on ADVFN! The large investors aint selling.

[wendsworth] 08/10/2010 11:24

spob: Sensible approach I too am topping-up on weakness.

As to value ..G.E. has in effect underwritten a floor of 750p. G.E. know long term the value is nearer £10 ...so they initially come in at 700p and then raise their offer to 750. Apart from the costs already incurred G.E are not going to walk away for the sake of another 10%. Problem is now they might end up having to pay more ..if they're going to succceed.

The longer this goes on the better ! G.E. want Wellstream and the board plus other interested parties know it! The Board are taking a sensible course and not being overly re-active. That in itself is re-assuring for holders.

The oil sector will remain strong and deep offshore drilling will increase ..hence Wellstream's strong bargaining position.

[spob] 08/10/2010 03:46

If we do get some weakness in the short term, i'll probably double my holding.

[wendsworth] 07/10/2010 13:49

spob : Noted from the Times this a.m. that Evolution securities also 'likes' Wellstream and sees 'G.E. coming back for a second bite'. No target price mentioned for the broker but the article implied that 800p probably wouldn't be enough. General consensus appears to be that yesterday's RNS was very much all about the negotiating process and that the protaginists will be buying up on any resultant short term weakness in the share price.

[phillis] 07/10/2010 12:36

surely GE tipped off a jounalist so they could make a comment on the indicative offer and get the issue into the open?