fitcontroller
21 Sep 2015
overdone just bought in, this drop is well overdone.
give the dog a bone
21 Sep 2015
Re: 401.60 -107.90 (-21.18%) Real-time: 8:... loving the drop - just bought in sub £4.... the market always over-reacts so happy to pick up some shares and then dump them in a few days. wonder if the RSA board of clowns had a break fee in place to compensate for the time and effort and risk in engaging in the bid process.
Spain Fund
21 Sep 2015
401.60 -107.90 (-21.18%) Real-time: 8:10AM BST .
give the dog a bone
21 Sep 2015
Re: RSA Ins Grp Offer Talks Terminated oh dear ! it always looked like the deal was not going to fly as the SP remained some 40pence lower than the offer price. Suppose the price of RSA will fall back a little - can't predict how much as this market is totally illogical.
idontwanttolose
21 Sep 2015
RSA Ins Grp Offer Talks Terminated The Board of RSA notes the trading update and the Rule 2.8 announcement published by Zurich Insurance Group (“Zurich”
. As a result of recent deterioration in the trading performance of Zurich’s General Insurance business, Zurich has terminated discussions with RSA regarding a possible offer.Zurich has confirmed to RSA that the due diligence findings were in line with their expectations and, while the process had not been finally concluded, they had not found anything that would have prevented them from proceeding with the transaction on the terms announced on 25 August 2015.Zurich’s interest in acquiring RSA, which was announced on 28 July 2015, was unsolicited. Since that time, RSA has continued to make good progress in the delivery of its Action Plans, as evidenced by our half year results. Trading results for July and August have been positive and ahead of our expectations. Additionally, we have announced the sale of our Latin America business, the principal outstanding piece of our strategic refocus programme.The Board and management of RSA look forward to the future with confidence in its prospects and to next updating the market at the Q3 interim management statement on 5 November 2015.
Ru 8746
14 Sep 2015
Re: Takeover It certainly looks like the market's pricing in quite a sizeable risk that we won't get taken out at £5.50 any time soon. Knowing that I don't know, I sold half of mine on 26th August. If it doesn't happen, I'll probably buy them back after the fall (though probably too early). If it happens, I'll be happy with £5.50 for the half I left in...Good luck all,
Ingenious Solutions
10 Sep 2015
Re: Takeover There's a lot of items on the news tab relating to takeover (not that I understand it). I gather the takeover is very much about to take place.Im quitting single share investing and putting my dosh in the hands of a financial manager.
nk1999
07 Sep 2015
Takeover Update today:"Zurich Insurance Group has arranged £5.5bn in financing in connection with a potential takeover of RSA Insurance Group. A report of the plan said the move signals that Zurich is "getting closer" to proceeding with a formal offer for RSA.".From CSS Newsletter.
nk1999
26 Aug 2015
Re: From Reuters Until we have a firm unconditional offer anything is possible. However chances of offer being below the indicated price must be low. I guess if Zurich found some serious issues (very unlikely) then they would prefer to simply walk away than offer less.Equally a counter offer is possible, and in that case Zurich may also up their offer.Fingers crossed. It will be good to get some cash in hand to invest elsewhere ASAP.nk
idontwanttolose
26 Aug 2015
From Reuters I was not aware that the offer could be below 550, I thought 550 was the offer!! a lot can happen in a monthZurich Insurance (ZURN.VX) made a friendly 5.6 billion pound takeover proposal for British rival RSA (RSA.L) on Tuesday, paving the way for one of Europe's biggest insurance deals.Zurich said a month ago it was weighing a bid but left it to the last day under British takeover rules to unveil a cash offer of 550 pence per share, roughly in the middle of the price range expected by investors in Zurich and RSA.RSA said it planned to recommend the proposal to its board and gave Zurich another four weeks to come up with a firm takeover offer, though the Swiss insurance company reserved the right to ultimately bid below 550 pence per share.Tighter European capital regulations due to come into force in January 2016, strong competition in the insurance sector and low investment returns have encouraged several insurance mergers and more are expected in Europe and the United States.The deal is similar in size to Aviva's (AV.L) agreed takeover this year of rival UK insurer Friends Life and would beat Exor's (EXOR.MI) $7 billion purchase of Partner Re (PRE.N).Analysts say a merger could offer operating efficiencies for Zurich, which like RSA has a large presence in Britain, and also provide the Swiss insurer with better access to Canada, Scandinavia and Latin America, where RSA has a strong presence.Zurich, which has said it would not overpay and is seeking a return on any investment in RSA of at least 10 percent, said it had reached a "common understanding" with RSA on how the British general and commercial insurer values itself.RSA, known for its "More Than" home and car insurance brand in Britain, is in the early stages of a turnaround under former RBS boss Stephen Hester.CAUTIONShares in RSA rose 4.5 percent to 517.5 pence by 1030 GMT, still well below the offer proposal. Traders said this was because there was no firm bid and there was an outside chance an offer could be lower than 550 pence, given issues such as the management of its more than 7 billion pound pension scheme.Adding to market caution was uncertainty over whether stocks would fall further on the back of weakness in Chinese markets that has driven the FTSE 100 .FTSE down 15 percent in August.One top 10 shareholder in Zurich was unhappy with the offer price given the weak macroeconomic backdrop, saying it would be hard for the Swiss company to hit its desired return targets."After a large market sell-off, it's a big price. More than the market expected. It seems Zurich management is rather ignorant in regards of market forces," said the shareholder, who declined to be named.Analysts at Berenberg said the offer premium of 26 percent to RSA's share price before Zurich first signalled its interest on July 28 meant the choice was easy for RSA shareholders, whose largest is activist investor Cevian Capital with 13 percent.Zurich, though, would need to save $500 million to reach its target of a 10 percent return on investment, the analysts added, and could end up having to sell RSA's profitable Scandinavian business to make the numbers stack up.Shore Capital's Eamonn Flanagan said a deal of some kind was "now seeming inevitable", though he did not rule out the possibility of a counterbid from another European insurer.
RichardLY
25 Aug 2015
Re: No more div's Thanks PMHD, Have just found that info also.RLY
II Editor
25 Aug 2015
NEW ARTICLE: Zurich offers £5.6 billion for RSA "After a month of discussions, Zurich Group has made an offer for LSE:RSA:RSA Insurance, which values the group at £5.6 billion. RSA was the only Footsie constituent to end "Black Monday" with a rising share price, and Tuesday's 550p per share ..."[link]
Pay me higher dividends
25 Aug 2015
Re: No more div's No that is not correctThe deal as it stands means the current declared dividend of 3.5p will be paid to shareholders. Ex dividend date for this payment is 10th Sept 2015 with a payment on 15th Oct 2015
RichardLY
25 Aug 2015
No more div's I take it I'm correct that there will be no more dividends payable on further buy's if the offer goes through?
vb6
25 Aug 2015
Re: Looks like it was worth the gamble to ho... Good news indeed.Just need to have an indication of when it will complete if it goes ahead.Yours Feeling Assuredvb6
