The Crazy Russian
06 Oct 2017
Re: Last day of trading You might be right...If soWhy is 15%+ shorted...?Of course these shorters dont always get it right...but 15% is a lot......
San Jaime
05 Oct 2017
Re: Last day of trading Buying AMFW shares a few months ago was a lower cost entry into WG, but the closing prices today now show as almost parity valuation.Although also showing a profit here, I see WG as a recovery stock and therefore will be holding.The initial purchase of AMFG a couple of yeats ago (12/2016) was as a potential recovery stock but have had a roller coaster ride to show the small profit....... so WTFDIK anyway...... Good luck to all no matter what your decicion.
Kenj2
05 Oct 2017
Last day of trading Tomorrow is the last day for trading AMFW shares.On Monday WG. shares will be issued, 3 WG shares for every 4 AMFW shares held.I've sold out on yesterday's and today's rises for a decent profit.So this board is not likely to get many more posts - bye all.
Ripley94
12 Jul 2017
Re: Fraud Squad investigation 09/02/17RNS.. has dropped below my top up , read elsewhere in press, could affect take offer.
Boring Bernie
12 Jul 2017
Re: Fraud Squad investigation I don't think it'll affect the takeover, because the SFO investigation was expected anyway, but it'll certainly focus minds on what liabilities Wood Group are taking on.
Hub
12 Jul 2017
Re: Share price getting off lightly? the press hasn't got hold of it properly yet and I suspect the shorters will be adding positions ahead of the next 'news' event which no doubt will follow same pattern as Petrofac in that 'directors' will be questioned under caution etc etcMarket seems reluctant to beat Amec up in same manner as Petrofac probably due to merger etc.That said, the rollsroyce sp based on SFO case was not beaten up in same way as PFC, so perhaps it's pfc that was overdone?If true, then the market has the true worth of pfc incorrect at 455p and I suspect it will head back to 550p+ to spare some blushes.Sometimes you need other examples to play out before you know which ones have been overdone or underdone.HUB
Jack_Walsh
12 Jul 2017
Share price getting off lightly? Certainly compared to the bloodbath that ensued for Petrofac when the SFO inquiry was announced.That said, it's been a decent day or two for oil prices.
Doomsayer
11 Jul 2017
Fraud Squad investigation Anybody got a view on this?[link]
Kenj2
30 Jun 2017
Re: Wood Group take-over... AMFW announced today that following talks with Wood Group, that they will now only sell off the North American Nuclear business, and that they will retain the European operations.
Kenj2
28 Jun 2017
Re: Wood Group take-over... Batteryman15,I can find nothing in AMFW's news to say that they are keeping anything out of the deal. The way I view it is that they are selling off their nuclear business to reduce their debt, and the Monopolies Commission has dictated that they sell off the Aberdeen business. I would expect the cash they get from both of these disposals to add to their cash position or be used to reduce total debt. So in effect Wood Group will benefit from these transactions.These quotes are from the RNS released on 13 March 2017:"With the proceeds of the planned disposal of the Company's nuclear business now expected in Q3 2017, to ensure continued compliance with its financial covenants, the Company is today initiating a process to increase the leverage covenant in its debt facilities to provide additional headroom prior to the measurement period ending 30 June 2017.""Earlier today, Wood announced a recommended all-share offer for the entire share capital of Amec Foster Wheeler."
John of Groats
23 Jun 2017
Re: Wood Group take-over... Perhaps this country's attitude to national champions helps explain our trade imbalance. Just when a company becomes large enough to compete on the international stage, in steps a government agency to break it up. Governments keep changing the name and the powers of this body just to keep everyone on their toes. It started out as the Monopolies and Restrictive Practices Commission on 1 January 1949. It became the Monopolies Commission on 31 October 1956. It was reconstituted with additional powers in 1965. In 1973, it became the Monopolies and Mergers Commission. On 1 April 1999, it became the Competition Commission and, on 1 April 2014, it became the Competition and Markets Authority. Do Civil Servants understand the significance of April Fools Day?French governments have no such hang-ups about allowing national champions to prosper, often taking a shareholding to block any foreign takeover. We, instead, like to encourage foreign companies to take over parts of British companies that have become too large for the British market. There are exceptions such as Rolls-Royce, which are too valuable to our economy or security but smaller companies are fair game.
batteryman15
22 Jun 2017
Re: Wood Group take-over... kenj2.I heard it was something to do with the oil and gas part of the business in Aberdeen. Apparently the UK Monopoly’s and Merger committee have said that this part of the business can not go with the sale to Wood Group cos it would create too large a company in the UK and affect fair competition??? If this is true, maybe that's why the price difference between the wood and Amec Foster Wheeler shares is widening? Maybe the price needs renegotiating because of this?I also heard that the nuclear part of Amec Foster Wheeler is not part of the sale (and never was). I don't know much about this part of the business or how big it is but I think it is UK and USA based? I don't know what is going to happen to this part of the business or if it will affect the share price / takeover??? All seem very confusing.
John of Groats
21 Jun 2017
Re: Wood Group take-over... dazedandconfused,You were among a very small minority that voted against the takeover at the Court and General Meetings on Thursday, 15th June. Of the votes cast, just 0.08% were against. Wood Group shares are now down at 655.0p. You might expect Amec to be at 75%of that (= 490.75p) but they are actually a little lower at 478.0p. Does the market expect the combined company to be worth less than the parts?I wish I had sold my shares when the takeover was proposed.
Kenj2
15 Jun 2017
Re: Wood Group take-over... Batteryman15,As far as I know the offer from WG was for all of AMFW, and I am not aware of any changes to this deal. I have heard that AMFW may have to sell off part of their North Sea assets, as a result of the merger,but this is I believe a monopolies commission ruling. Can you be more specific about what is not included in the sale?
dazedandconfused
07 Jun 2017
Re: Wood Group take-over... There's nothing i've heard from within Amec, but the continued fall in share price means i've voted against this 'takeover'.
