Good morning everyone. It looks like the inevitable happened today and Gallagher Holdings bid for Abbey plc. stg5.30 appears low, approximates book value of company. No premium for brand, landbank, trading history etc.
Would be curious what others think & is there a cohort of people who are prepared to stay as minority holders?
The offer seems poorly constructed as the pdf does not work in the 1st announcement & the second announcement seems to be the bare minimum.
Also Abbey Plc has not announced the acquisiton of the 931k shares by Gallagher which has forced the mandatory bid.
Happy to expand thread as needed later today.
Am also looking forward to Abbey Plc statement, as the 7 member board includes 2 directly conflicted directors (gallaghers) and 3 Abbey directors and 2 independent.
Would be curious what others think & is there a cohort of people who are prepared to stay as minority holders?
The offer seems poorly constructed as the pdf does not work in the 1st announcement & the second announcement seems to be the bare minimum.
Also Abbey Plc has not announced the acquisiton of the 931k shares by Gallagher which has forced the mandatory bid.
Happy to expand thread as needed later today.
Am also looking forward to Abbey Plc statement, as the 7 member board includes 2 directly conflicted directors (gallaghers) and 3 Abbey directors and 2 independent.