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...the share down that might give me an opportunity to top up and either way its good to hear all views.
Personally im happy to hear all opinions, wether positive or negative, otherwise your in danger of being too in love with a share. If someone wants to try talk
From Construction Enquirer... Galliford Try has taken on two Carillion directors to strengthen leadership and drive growth at its highways business. Duncan Elliott, who previously headed up Strategic Highways with Carillion for nine years, joins as managing director of the Highways unit within Galliford Try’s Infrastructure Division. His experience also includes 16 years in various roles with Alfred McAlpine to operations director level. Former Carillion directors Duncan Elliott and David Bates join Galliford Try Galliford Try has also appointed David Bates as commercial director for Highways. He also joins from Carillion where he held a similar role. Nick Salt, Managing Director of Galliford Try Infrastructure, said: “We’re in a position to provide a focus and resource to our clients that can’t be matched by some of our competitors who are committed to major programmes such as HS2.†As a Collaborative Delivery Framework contractor for Highways England, Galliford Try is currently engaged in the Smart motorways programme on the M1 in joint venture with Costain. Galliford Try has also recently started work for the same client on a £24m contract to build a new junction on the M49 near Bristol and is progressing the Lincoln Eastern bypass under the Midlands Highways Alliance.
Actually, another thing to take into account is that Intl. Paper, although its recent return-on-equity no. is decent (>20%) its return on capital is not great (5%) and according to a cursory analysis I just saw, it may be over-valued by as much as 40% based on discounted cashflow method of valuation. Therefore, it would be in its interests to use as much of its equity to pay for SKG as possible if it is that much over-valued. If correct, the share component should only be valued at 60% which brings the effective offer per share down to around €32.33. Maybe that is why SKG are so insistent that it is indeed, opportunistic...
Sold about 25% of mine @ 34 as planning to hold SKG long-term but had target of around 33 to slice some off the top. Price is out in RNS this eve. from Intl. Paper who claim it amounts to €36.46 per share but only €22 of it is in cash and the rest in Intl. Paper shares...think it would be a lot more attractive with a larger cash component but still Smurfit board are facing it down... you would wonder what it would take for them to recommend... Obviously hostile approach from the tone of the Intl. Paper RNS. Either way, v. happy with getting €34 for a tranch of them and will buy back in if it drops back below €30 again in the event improved bid doesn't materialize... at least now we know what other people thing of SKG's potential/valuation.
Are you all aware the Akzo Nobel new chairman is from Maersk ?
I wouldn't be holding my breath.... Month or so, year or so, it just seems to never happen with this company
Excellent bounce today on news of bid $$$ ...fair play to DAVY - they have consistently said SKG was undervalued and price seems to have moved up to around where they said it should be on the bid news. Wonder what value the offer put on the shares???
No chance Tot of QFI being mentioned.