Sharing200
14 Jan 2015
I'd agree with the below
Greyinvestor
14 Jan 2015
Re: CGL holding Price wise, £7.27 is about right. I would just comment that part of the consideration is in US shares, so there is some currency exposure and some equity market exposure. So it could be + or - a couple of percent. I'd probably settle for £7.10 for the rest of my holding.
Greyinvestor
14 Jan 2015
CGL holding I've sold 50% of my holding, and am keeping the proceeds in cash. In my view the whole market is overvalued, and yet again I am forced to have a significant proportion of my portfolios in cash.Yes, I have received less than I would have done upon completion, but I'm happy to bank some serious gains. Now my powder is dry if the market turns.I'm trawling the market for any decent yielders, but they are incredibly hard to find (except the dogs in the resource sector). The other non life insurers are now looking very overvalued. What everyone is forgetting is that this is an exceptionally low year for claims, and the bond market has been kind. Next year claims will rise and bond values may fall.What we can now expect is turmoil in some parts of the bond market, turmoil in the currency market, and a spillover into the equity market. In other words volatility.
Broncomaniac
14 Jan 2015
Greyinvestor Are you still holding your Catlin shares?I find it hard to determine the fair price, as I'm not clear on what dividends may be due, in additional to the £6.90 share offer
Warthog4
11 Jan 2015
Re: 727.3p ? Might get better tomorrow following a Nomura "Buy" recommendation on XL late Friday??
UAE Sunshine
09 Jan 2015
Re: will i get the dividend XL at $35.94 no $36.08 as I speak so positive reaction USA.Just sold my CGL for £7.07 very happy coz nearly sold at £6.90 earlier today.Might have got a bit more but happy with £3k in 10 days.
Rusty Jock
09 Jan 2015
Re: will i get the dividend The final dividend 22p will be announced in mid Feb at the time of the Final Results , and the xd date will will be shortly after that . Last year the share went xs on 19 Feb , and the div was paid 20 Mar .The special div 12p from the Box sale is expected to be finalised sometime in Q1 , and paid soon after . So this will be an xd date sometime in Q1 .The above amounts are indicative , and will only be finalised at the time they are announced .
Mpg1
09 Jan 2015
will i get the dividend I sold on the morning the takeover was announced as I had a limit order. when I got up i bought back in prior to the rns stating that an offer was on the table. will i still get the dividend?
FRTEB
09 Jan 2015
Re: 727.3p ? A nice return, whichever way you look at it.
twotonetyrone
09 Jan 2015
Re: 727.3p ? Yep - 727p is what i read. Potential for this to increase/decrease with XL SP and currency movements. Based on SP of 690p now, income received over next couple of months = 5%....nice. Must remember to turn off my auto income reinvestment for this share....TTT
Rusty Jock
09 Jan 2015
727.3p ? Sorry I think I got that wrong , but must admit the wording in the announcement is quite difficult to interpret .Having re-read it several times , I think it states. We receive 715.3p made up of 388p cash + 22p final Catlin dividend paid cash + 0.13 New XL share.Plus we also receive 12p from the Box sale to be paid shortly after completion .Total 727.3pMaybe someone else should have a go at this to confirm .
Rusty Jock
09 Jan 2015
715.3p per share .... made up as 388p cash + 22p final Catlin dividend paid cash + 0.13 New XL share .The previously mentioned Box special payment of about 12p has now been excluded from the deal , and the Catlin dividend included .A detailed calculation is included in the body of the RNS .The only messy part is receiving the XL shares .
Rusty Jock
09 Jan 2015
Deal Done Its just been announced .StockMarketWire | Fri, 9th January 2015 - 10:22XL Group and Catlin Group have announced that they have agreed the terms of a recommended cash and share acquisition of the entire issued and to be issued share capital of Catlin by XL.It is intended that the Acquisition will be effected by means of a two-step, integrated process comprising a scheme of arrangement under Section 99 of the Bermuda Companies Act followed immediately by a merger under Section 104H of the Bermuda Companies Act.Commenting on the Acquisition, Mike McGavick, Chief Executive Officer of XL, said:"We are delighted to announce this compelling combination which positions us strongly to provide more and even better answers for the worlds most complex risks while enhancing our opportunities to create value for shareholders and better serve clients and brokers."We believe the transaction will accelerate each company's strategy, and address the meaningful structural changes we see shaping the P&C sector. Specifically, the combination will add immediate scale in specialty insurance, it will create a more efficient and more capable global network by bringing our two infrastructures together, and it creates a top 10 reinsurer with expanded alternative capital capabilities."This is an extraordinary opportunity to bring together two innovators with roots in disciplined underwriting, industry leadership and business vision, and strong cultural alignment."I am especially pleased that Stephen Catlin will continue on with the combined company and, on closing of the Acquisition, is expected to serve on our Board."We will benefit enormously from Stephen's input in all strategic decisions and through our ability to leverage his vast market network as we implement the strategy of the new combined company."With the combination of our talented teams, we expect to maintain strong financial fundamentals while generating attractive economics and long-term value for shareholders including double-digit EPS and meaningful ROE accretion."At 10:21am:
sinnet
09 Jan 2015
Re: Upside Down Probably at least a couple of weeks I would think before a firm offer is announced. XL will have to do some due diligence. Once they announce a firm intention to make an offer the offer document must be sent in within 28 days. No firm intention has yet been announced. However it seems Steven Catlin is keen on it as presumably is XL so I can't see why it should not go ahead.The XL price is creeping up and the £ sinking so the offer is now worth about 716p.I'll hang on and wait. Too often in takeovers I've sold too soon! It's usually better to sit it out.
Mpg1
09 Jan 2015
Re: Upside Down typo... low pe not look pe
